Baxano Surgical Inc. Bankruptcy New Filing Alert: Motion For Authority To Obtain Debtor-In-Possession Financing

On January 16, 2015, a motion for authority to obtain debtor-in-possession financing was filed in the bankruptcy case of Baxano Surgical Inc. and its affiliates.

The filing was assigned docket number 213 and is described on the court’s official docket as follows:

Motion to Shorten / Motion for Entry of an Order Shortening Time for Notice of the Hearing on the Motion of the Debtor for (A) First Modification of Final Order (I) Authorizing Debtor to Obtain Postpetition Financing Pursuant to 11 U.S.C. §§ 105, 362, 363, and 364, (II) Granting Liens and Superpriority Claims to Postpetition Lender Pursuant to 11 U.S.C. §§ 364 and 507, (III) Authorizing Use of Cash Collateral Pursuant to 11 U.S.C. § 363, (IV) Providing Adequate Protection to Prepetition Secured Lender Pursuant to 11 U.S.C. §§ 361, 362, 363, 364, and 507, and (V) Scheduling Final Hearing Pursuant to Bankruptcy Rules 4001(B) and (C) And Local Bankruptcy Rule 4001-2, and (B) Granting Related Relief (related document(s)[212]) Filed by Baxano Surgical, Inc.. (Attachments: # (1) Exhibit A # (2) Proposed Form of Order) (Demmy, John)

Baxano Surgical Inc. filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on November 12, 2014. The bankruptcy case is pending before the United States Bankruptcy Court for the District of Delaware. The case number for the lead bankruptcy case is 14-12545. The bankruptcy case is currently assigned to United States Bankruptcy Judge Christopher Sontchi. The law firm of Stevens & Lee, P.C. is acting as lead bankruptcy counsel to Baxano Surgical Inc. in the bankruptcy case.


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