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TM Healthcare gets interim access to lenders’ cash collateral
By Sarah Lizee
Olympia, Wash., Oct. 14 – TM Healthcare Holdings, LLC obtained court approval to use the cash collateral of its pre-bankruptcy secured lenders on an interim basis, according to a Tuesday order in the U.S. Bankruptcy Court for the Southern District of Florida.
TM Healthcare is authorized to use a capped amount of the cash collateral through Oct. 30.
As previously reported, the debtor plans to use the funds for its operations while in Chapter 11.
Lender agent KeyBank has consented to the proposed cash collateral use.
Stuart, Fla.-based TM operates treatment centers for the treatment of alcohol and drug addiction. The company filed Chapter 11 bankruptcy on Sept. 17 under case number 20-20024.
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