New Gulf Resources, LLC Bankruptcy New Filing Alert: Order Regarding The Motion For Authority To Obtain Debtor-In-Possession Financing

On February 4, 2016, an order regarding the motion for authority to obtain debtor-in-possession financing was filed in the bankruptcy case of New Gulf Resources, LLC and its affiliates.

The filing was assigned docket number 259 and is described on the court’s official docket as follows:

Order (FINAL) (1) Authorizing the Debtors to Obtain Senior Secured Priming Superpriority Postpetition Financing, (2) Authorizing Use of Cash Collateral, (3) Granting Liens and Providing Superpriority Administrative Expense Status, (4) Granting Adequate Protection, (5) Modifying the Automatic Stay, and (6) Granting Related Relief (related document(s)[10], [41]) Order Signed on 2/4/2016. (Attachments: # (1) Exhibit A-C) (NAB)

New Gulf Resources, LLC filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on December 17, 2015. 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 15-12566. The bankruptcy case is currently assigned to United States Bankruptcy Judge Brendan Linehan Shannon. The law firm of Baker Botts LLP is acting as lead bankruptcy counsel to New Gulf Resources, LLC in the bankruptcy case.


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