Former Monitor Group trustee reaches cash collateral deal with Caltius

By Jim Witters

Wilmington, Del., Oct. 18 - The Chapter 7 trustee for MCG LP, formerly Monitor Co. Group LP, has reached agreement with Caltius Partners for the use of cash collateral to fund the wind-down of the case, according to an Oct. 18 filing with the U.S. Bankruptcy Court for the District of Delaware.

The stipulated agreement provides enough funding for trustee Alfred T. Giuliano to implement the terms of the global settlement reached between the official committee of unsecured creditors and Caltius Partners IV, LP; Caltius Partners Executive IV, LP; and CP IV Pass-through (Monitor), LP.

The global settlement, approved by the court in August, opened the path for conversion of the case to Chapter 7 from Chapter 11 following the sale of substantially all of Monitor's assets.

Caltius retains a lien on the debtors' interest in the wind-down account.

No hearing has been scheduled for consideration of the stipulation.

Monitor, a Cambridge, Mass.-based strategy consulting firm, filed for bankruptcy on Nov. 7, 2012. Its Chapter 11 case number is 12-13042.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.