BJ Services gets further interim access to lenders’ cash collateral

By Sarah Lizee

Olympia, Wash., Sept. 25 – BJ Services, LLC obtained a sixth interim order for the use of the cash collateral of its pre-bankruptcy ABL secured parties, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of Texas.

The final hearing is scheduled for Oct. 9.

The order said BJ Services needs to use the cash collateral to fund the sale of its assets, pay operating expenses and preserve the value of its estates.

Under the third interim order, the company’s access to cash collateral will expire at 11:59 p.m. ET on Oct. 9.

BJ Services is a Tomball, Tex.-based provider of hydraulic fracturing and cementing services to upstream oil and gas companies. The company filed bankruptcy on July 20 under Chapter 11 case number 20-33627.

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