Hepar BioScience LLC Bankruptcy New Filing Alert: Order Regarding The Motion For Authority To Obtain Debtor-In-Possession Financing

On February 23, 2015, an order regarding the motion for authority to obtain debtor-in-possession financing was filed in the bankruptcy case of Hepar BioScience LLC and its affiliates.

The filing was assigned docket number 39 and is described on the court’s official docket as follows:

Hearing Minutes and ORDER Re: (related document(s)8 Motion to Use Cash Collateral filed by Debtor Hepar BioScience LLC, Request for Preliminary Hearing). APPEARANCES (telephonic): Clair R. Gerry for Debtor and Roger W. Damgaard and G. Mark Rice for Northwest Bank. DISPOSITION: Counsel for Northwest Bank specifically waived any deficiency of notice regarding Debtor’s preliminary request. Upon consideration of the parties’ stipulation (doc. 34), as supplemented post-hearing as required by the Court to provide a clean copy of Exhibit D (doc. 38); and in recognition of and compliance with the findings and conclusions entered on the record, and for cause shown; now, therefore, IT IS HEREBY ORDERED the parties’ stipulation, as supplemented, is approved as filed, except Northwest Bank must timely perfect any lien provided by the stipulation; and Debtors are authorized to preliminary use of Northwest Bank’s cash collateral through March 11, 2015, in the amounts and for the purposes set forth in the stipulation, as supplemented. SO ORDERED: /s/ Charles L. Nail, Jr., Bankruptcy Judge. (nsar) (Entered: 02/23/2015)

Hepar BioScience LLC filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on February 20, 2015. The bankruptcy case is pending before the United States Bankruptcy Court for the District of South Dakota. The case number for the lead bankruptcy case is 15-40057. The bankruptcy case is currently assigned to United States Bankruptcy Judge Charles Nail Jr.. The law firm of Gerry & Kulm Ask, Prof. LLC is acting as lead bankruptcy counsel to Hepar BioScience LLC in the bankruptcy case.


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