Open Road Films secures final court approval of cash collateral use

By Caroline Salls

Pittsburgh, Oct. 2 – Open Road Films, LLC obtained final court approval to access the cash collateral of its pre-bankruptcy secured parties, according to an order filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The cash collateral will be used to fund Open Road’s operations while in bankruptcy.

“Without the ability to use cash collateral, the debtors will be unable to meet post-petition obligations and will be unable to fund working capital needs, thus causing irreparable harm to the value of their assets and ending the debtors’ orderly sale efforts,” the company said in the motion.

Open Road is a Los Angeles-based film operation. The company filed bankruptcy on Sept. 6 under Chapter 11 case number 18-12012.

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