Agriprocessors emergency DIP financing extended to Jan. 19

By Jennifer Lanning Drey

Portland, Ore., Jan. 6 - Agriprocessors, Inc.'s emergency debtor-in-possession financing has been extended through Jan. 19, according to a Tuesday filing with the U.S. Bankruptcy Court for the Northern District of Iowa.

The company may obtain emergency advances from First Bank Business Capital, Inc. and use cash collateral of up to $6.45 million, according to the filing.

The final DIP loan approval hearing was continued to Jan. 15 from Jan. 5.

Agriprocessors, a Brooklyn, N.Y.-based kosher meat and poultry packer and food processor, filed for bankruptcy on Nov. 4 in the U.S. Bankruptcy Court for the Eastern District of New York. Its case was later transferred to Northern Iowa. Its Chapter 11 case number is 08-02751.

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