Senior Care Centers secures interim access to CIBC cash collateral

By Caroline Salls

Pittsburgh, June 6 – Senior Care Centers, LLC received a sixth interim order allowing it to use the cash collateral of administrative agent CIBC Bank USA, according to an order filed Thursday with the U.S. Bankruptcy Court for the Northern District of Texas.

CIBC is the administrative agent for Senior Care lenders for CIT Finance LLC, MB Financial Bank, NA, Bankers Trust Co., Wells Fargo Bank, NA and Compass Bank.

The cash collateral use will expire on the earliest of June 14, the entry of a final order and the issuance of a termination notice.

A further interim hearing will be held on June 11, and the final hearing is scheduled for June 25.

Senior Care Centers is a Dallas-based skilled nursing and long-term care industry leader in Texas and Louisiana. The company filed bankruptcy on Dec. 4, 2018 under Chapter 11 case number18-33967.

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