Heritage Power gets interim approval to access cash collateral

By Sarah Lizee

Olympia, Wash., Jan. 26 – Heritage Power LLC gained interim approval to use cash collateral, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Southern District of Texas.

The order authorized the debtors to provide adequate protection to the secured parties under a credit and guaranty agreement dated July 30, 2019 with Jefferies Finance LLC as administrative agent.

A final hearing is scheduled for Feb. 16.

Heritage Power is a Houston-based owner of natural gas and oil-fueled power generation facilities. The company filed bankruptcy on Jan. 24 under Chapter 11 case number 23-90032.

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