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MGM granted interim access to cash collateral; final hearing Dec. 2
By Caroline Salls
Pittsburgh, Nov. 5 - Metro-Goldwyn-Mayer Inc. received interim court approval to use the cash collateral of its pre-bankruptcy lenders, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of New York.
The final hearing is scheduled for Dec. 2.
The cash collateral use will terminate on the earliest of the effective date of MGM's plan of reorganization, 30 days after entry of the interim order if a final order has not been entered and five days following written notice of an event of default.
MGM is a Los Angeles-based motion picture, television, home video and theatrical production and distribution company that filed for bankruptcy on Nov. 3. The Chapter 11 case number is 10-15774.
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