Cadence Innovation DIP financing extended to March 27

By Caroline Salls

Pittsburgh, March 6 - Cadence Innovation LLC's debtor-in-possession financing has been extended to March 27, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

Under the extension agreement, the DIP facility lender can also extend the maturity of the loan though no later than April 30 without further court approval.

Cadence, a Troy, Mich.-based auto parts supplier, filed for bankruptcy on Aug. 26, 2008. Its Chapter 11 case number is 08-11973.

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