Randolph Hospital granted access to cash collateral through June 2

By Caroline Salls

Pittsburgh, May 6 – Randolph Hospital, Inc., which does business as Randolph Health, obtained court approval to use the cash collateral of master trustee Bank of America on an interim basis, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Middle District of North Carolina.

The company said it needs to use the cash collateral to continue its operations, meet payroll, administer its estates and maintain adequate cash.

The cash collateral use will terminate on the earliest of June 2, the conclusion of a further hearing on continued use and the breach of a termination provision.

Randolph is an Asheboro, N.C.-based health care company. The company filed bankruptcy on March 6 under Chapter 11 case number 20-10247.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.