Modern Continental looks to extend DIP financing through April 3

By Jennifer Lanning Drey

Portland, Ore., March 10 - Modern Continental Construction Co. asked the U.S. Bankruptcy Court for the District of Massachusetts to extend the maturity of its debtor-in-possession financing through April 3 from March 6, according to a Tuesday filing.

The company said the amount it would be permitted to spend between March 6 and April 3 would not exceed $1.29 million.

As previously reported, the DIP lenders agreed to increase the facility to $8.08 million in February.

Modern Continental, a Dedham, Mass., contractor, filed for bankruptcy on June 23, 2008. Its Chapter 11 case number is 08-14558.

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