Liberty Power files for expedited motion for DIP financing

Chicago, April 27 – Liberty Power Holdings LLC is seeking approval of an expedited motion for post-petition secured financing and use of cash collateral, according to a proposed order filed with the U.S. Bankruptcy Court for the Southern District of Florida on Wednesday.

Liberty Power wants to obtain post-petition secured financing in the form of an irrevocable letter of credit.

The replacement letter of credit will come from SVB.

The company also wants authorization to use cash collateral to secure the obligations under the letters of credit and grant certain liens and security interests.

Boston Energy Trading and Marketing, LLC has consented to the use of its cash collateral.

The cash collateral will fund a pledged bank account in the amount of $550,000.

Liberty Power is an electric retailer based in Fort Lauderdale, Fla. The company filed Chapter 11 bankruptcy on April 20, 2021 under case number 21-13797.

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