Outer Harbor Terminal, LLC (a/k/a Ports America Outer Terminal, LLC) Bankruptcy New Filing Alert: Order Regarding The Motion For Authority To Use Cash Management Systems





On February 3, 2016, an order regarding the motion for authority to use cash management systems was filed in the bankruptcy case of Outer Harbor Terminal, LLC (a/k/a Ports America Outer Terminal, LLC) and its affiliates.

The filing was assigned docket number 24 and is described on the court’s official docket as follows:

Order (Interim) (I) Authorizing the Debtor to (A) Continue Operating Cash Management System, (B) Honor Certain Prepetition Obligations Related Thereto, (C) Continue Making Electronic Payments and Transfers, (D) Maintain Existing Business Forms, (E) Continue to use Company Charge Cards and pay Claims Related Thereto, and (F) Continue Performing Under Existing Shared Services Arrangment With the Debtor’s Affiliates and Continue Other Intercompany Transactions; (II) Granting Administrative Expenses Priority to Postpetition Intercompany Obligations to Debtor’s Affiliates; (III) Waiving the Requirements of Section 345(B); and (IV) Scheduling a Final Hearing. (Related Doc # [5])(related document(s)[5]) Order Signed on 2/3/2016. (Attachments: # (1) Exhibit 1) (GM)

Outer Harbor Terminal, LLC (a/k/a Ports America Outer Terminal, LLC) filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on February 1, 2016. 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 16-10283. The bankruptcy case is currently assigned to United States Bankruptcy Judge Laurie Selber Silverstein. The law firm of Milbank, Tweed, Hadley & McCloy LLP is acting as lead bankruptcy counsel to Outer Harbor Terminal, LLC (a/k/a Ports America Outer Terminal, LLC) in the bankruptcy case.

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