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iHeartMedia gets second interim order approving cash collateral use
By Caroline Salls
Pittsburgh, March 27 – iHeartMedia, Inc. obtained a second interim order allowing it to access the cash collateral of its pre-bankruptcy lenders, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Texas.
A final hearing is scheduled for April 12.
The order said the cash collateral use “is necessary and essential to enable the debtors to preserve the value of their businesses and assets, prevent immediate and irreparable harm to the debtors’ estates, and facilitate the reorganization of the debtors’ businesses.”
iHeartMedia is a media and entertainment company based in San Antonio. The company filed bankruptcy on March 15 under Chapter 11 case number 18-31274.
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