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Tousa seeks approval to use cash collateral on, beyond Jan. 31
By Lisa Kerner
Charlotte, N.C., Dec. 31 - Tousa, Inc. asked the court to approve its use of cash collateral of the debtors' pre-petition lenders on and after Jan. 31, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of Florida.
It is the company's eighth motion to extend its use of cash collateral.
In making its request, Tousa said it is critical that the debtors maintain access to cash collateral in order to implement their wind-down business plan.
The court previously extended the use of cash collateral beyond Sept. 1.
Tousa, a Hollywood, Fla.-based homebuilder, filed for bankruptcy on Jan. 29, 2008. Its Chapter 11 case number is 08-10928.
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