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U.S. Tobacco Cooperative gets further interim access to cash collateral
By Sarah Lizee
Olympia, Wash., Aug. 17 – U.S. Tobacco Cooperative Inc. received further interim approval to access the cash collateral of its pre-petition lenders and Truist Bank, according to an order filed Monday with the U.S. Bankruptcy Court for the Eastern District of Northern Carolina.
The company may use the cash collateral through Sept. 19.
A further hearing is scheduled for Sept. 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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