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Friendship Village of Schaumburg gets interim OK for cash collateral
By Sarah Lizee
Olympia, Wash., July 13 – Evangelical Retirement Homes of Greater Chicago, Inc., which does business as Friendship Village of Schaumburg, received interim approval to use cash collateral, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Northern District of Illinois.
Bond trustee UMB Bank, NA has not consented to the cash collateral use, but the court said good cause had been shown for entry into the interim order.
A final hearing is set for Aug. 4.
The Schaumburg, Ill.-based retirement community filed bankruptcy on June 9 under Chapter 11 case number 23-07541.
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