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U.S. Tobacco Cooperative receives interim access to cash collateral
By Sarah Lizee
Olympia, Wash., July 14 – U.S. Tobacco Cooperative Inc. received interim approval to access the cash collateral of its pre-petition lenders and Truist Bank, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Eastern District of Northern Carolina.
A further hearing is scheduled for Aug. 16.
Raleigh, N.C.-based U.S. Tobacco is the largest tobacco cooperative in the United States. It filed bankruptcy on July 7 under Chapter 11 case number 21-01511.
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