| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Z > Headlines for Zacky Farms, LLC > News item |
Zacky Farms granted interim access to $22.5 million DIP financing
By Jim Witters
Wilmington, Del., Oct. 12 - Zacky Farms, LLC was granted interim access to $22.5 million in debtor-in-possession financing from the Robert D. Zacky and Lillian Zacky Family Trust dated July 26, 1988, according to documents filed Oct. 12 with the U.S. Bankruptcy Court for the Eastern District of California.
The DIP agreement requires Zacky Farms to immediately begin a process to sell the company as a going concern.
The financing is part of a $71 million DIP facility.
The facility will mature on Jan. 31, 2013.
Interest is 6%.
A final DIP hearing is scheduled for Oct. 24.
Zacky Farms, a Fresno, Calif.-based poultry producer, filed for bankruptcy on Oct. 9. The Chapter 11 case number is 12-37961.
© 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.