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Mayflower Communities wins final approval to use bond trustee cash
By Caroline Salls
Pittsburgh, April 12 – Mayflower Communities, Inc. received final court approval to use the cash collateral of bond trustee UMB Bank, NA, according to an order filed Thursday with the U.S. Bankruptcy Court for the Northern District of Texas.
As previously reported, Mayflower reached an agreement in principle with UMB last month that resolves “the primary disputes in this case.”
The company said the settlement documents included a final consensual cash collateral use order.
Under the final order, Mayflower will have access to the cash collateral through Sept. 16.
Mayflower Communities, an Addison, Texas-based provider of elder care and senior living facility services, filed bankruptcy on Jan. 30 under Chapter 11 case number 19-30283.
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