The applicant, in its capacity as Foreign Representative, sought an order recognizing the Third DIP Amendment Order granted by the United States Bankruptcy Court.
The order amended the Term Loan DIP Credit Agreement to add a new super senior, first-out $30 million tranche to the DIP facility.
The court found that the Chapter 11 Debtors needed additional financing and that recognition was supported by the principle of comity.
The unopposed motion was granted pursuant to section 49 of the CCAA.
