Federation Employment and Guidance Service, Inc. (d/b/a FEGS) Bankruptcy New Filing Alert: Order Regarding The Motion For Authority To Obtain Debtor-In-Possession Financing

On March 24, 2015, an order regarding the motion for authority to obtain debtor-in-possession financing was filed in the bankruptcy case of Federation Employment and Guidance Service, Inc. (d/b/a FEGS) and its affiliates.

The filing was assigned docket number 78 and is described on the court’s official docket as follows:

Interim Order Authorizing the Debtor to Obtain Post-Petition Secured, Superpriority Financing Pursuant to 11 U.S.C. §§ 105, 361, 362, 363, and 364 and to Utilize Cash Collateral Pursuant to 11 U.S.C. § 363; Granting Adequate Protection to Prepetition Secured Creditors Pursuant to 11 U.S.C. §§ 361, 362, 363 and 364; and Scheduling a Final Hearing Pursuant to Bankruptcy Rules 4001(B) and 4001(C). Subject to the entry of a final order, the Motion is approved as provided in this Interim Order. The Interim Order shall become effective immediately upon its entry. To the extent the terms of the DIP Loan Agreement or the other DIP Loan Documents differ in any respect from the terms of this Interim Order, this Interim Order shall control. An Interim Hearing is scheduled for 3/26/2015 at 11:00am in Courtroom 860 (Judge Grossman). (RE: related document(s)[15] Motion to Use Cash Collateral filed by Debtor Federation Employment and Guidance Service, Inc.). Signed on 3/24/2015 (Attachments: # (1) Exhibit) (dhc)

Federation Employment and Guidance Service, Inc. (d/b/a FEGS) filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on March 18, 2015. The bankruptcy case is pending before the United States Bankruptcy Court for the Eastern District of New York . The case number for the lead bankruptcy case is 15-71074. The bankruptcy case is currently assigned to United States Bankruptcy Judge Robert Grossman. The law firm of Garfunkel Wild, P.C. is acting as lead bankruptcy counsel to Federation Employment and Guidance Service, Inc. (d/b/a FEGS) in the bankruptcy case.


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