R.H. Donnelley granted access to more than $300 million of cash

By Caroline Salls

Pittsburgh, June 2 - R.H. Donnelley received court approval to access more than $300 million of its available cash as part of its first-day bankruptcy orders, according to a company news release.

The company said the cash will ensure continued supply of products to its more than 500,000 customers nationwide.

"The relief granted yesterday ensures R.H. Donnelley can continue business as usual as we take steps to restructure the company's balance sheet and place R.H. Donnelley on a more solid financial foundation," chairman and chief executive officer David C. Swanson said in the release.

R.H. Donnelley also received court approval to continue to pay employee wages and benefits and to honor customer obligations.

R.H. Donnelley is a Yellow Pages and online local commercial search company based in Cary, N.C. The company filed for bankruptcy on May 28 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 09-11833.

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