Lighthouse Resources gets final approval to access cash collateral

By Sarah Lizee

Olympia, Wash., Jan. 5 – Lighthouse Resources Inc. received court approval to use the cash collateral of its pre-petition secured lenders, Resource Capital Fund V, LP; Resource Capital Fund VI, LP; and RCF V Annex Fund, LP, according to a final order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

The debtors require the immediate use of the cash collateral to enable them to maximize and preserve the value of their businesses pending the closing of some asset sales and the consummation of a liquidation plan, the order said.

Lighthouse Resources is a South Jordan, Utah, owner and operator of thermal coal mines. The company filed bankruptcy on Dec. 3 under Chapter 11 case number 20-13056.

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