On May 7, 2015, an order regarding the motion for authority to use cash management systems was filed in the bankruptcy case of Magnetation LLC and its affiliates.
The filing was assigned docket number 58 and is described on the court’s official docket as follows:
ORDER (I) GRANTING AN EXPEDITED HEARING, (II) AUTHORIZING MAINTENANCE OF THE DEBTORS EXISTING CASH MANAGEMENT SYSTEM, PURCHASE CARD PROGRAM AND EXISTING BANK ACCOUNTS AND BUSINESS FORMS AND (III) AUTHORIZING FINANCIAL INSTITUTIONS TO HONOR AND PROCESS RELATED CHECKS AND TRANSFERS (Related Doc # 14) (Judy MNBS) (Entered: 05/07/2015)
Magnetation LLC filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on May 5, 2015. The bankruptcy case is pending before the United States Bankruptcy Court for the District of Minnesota. The case number for the lead bankruptcy case is 15-50307. The bankruptcy case is currently assigned to United States Bankruptcy Judge Gregory Kishel. The law firm of Davis Polk & Wardwell LLP is acting as lead bankruptcy counsel to Magnetation LLC in the bankruptcy case.