Metalforming granted DIP extension to match asset sale closing

By Caroline Salls

Pittsburgh, Dec. 5 - Metalforming Technologies Inc. obtained approval of an amendment to its debtor-in-possession financing agreement that extends the maturity date by eight days to Dec. 12 from Dec. 4, according to a Monday filing with the U.S. Bankruptcy court for the District of Delaware.

According to the filing, the DIP maturity extension coincides with the extension of the deadline for closing the company's sale of all of its assets to Zohar Tubular Acquisition, LLC.

Metalforming, a Chicago-based automobile parts manufacturer, filed for bankruptcy on June 16. Its Chapter 11 case number is 05-11697.

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