Former Monitor Co. Group gets OK for continued cash collateral use

By Jim Witters

Wilmington, Del., June 21 - MCG LP, formerly Monitor Co. Group LP, received approval for the continued use of its lenders' cash collateral to fund a wind-down budget, according to documents filed June 21 with the U.S. Bankruptcy Court for the District of Delaware.

Lender Caltius Partners IV and its co-lenders consented to the use.

As part of the court's order, Caltius is granted an allowed claim of $58.99 million, plus interest and other obligations incurred in connection with the loan.

As previously reported, the company completed the sale of substantially all of its assets to Deloitte Consulting LLP.

Monitor, a Cambridge, Mass.-based strategy consulting firm, filed for bankruptcy on Nov. 7. Its Chapter 11 case number is 12-13042.

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