On February 5, 2016, an objection to the motion for authority to use cash management systems was filed in the bankruptcy case of Newbury Common Associates, LLC and its affiliates.
The filing was assigned docket number 198 and is described on the court’s official docket as follows:
Response Objection Of Citizens Bank, N.A. To Motion Of Debtors For Entry Of An Order Approving (I) The Debtors Continued Maintenance Of Their Existing Bank Accounts And Use Of Their Cash Management System, (Ii) The Payment Of Certain Obligations Related Thereto, (Iii) The Continuation Of Intercompany Transactions, (Iv) Administrative Expense Status For Intercompany Claims, (V) The Debtors Continued Use Of Existing Checks And Business Forms, And (Vi) Granting The Debtors A Waiver Of The Bond Requirement Contained In Section 345(B) Of The Bankruptcy Code Filed by Citizens Bank, N.A., f/k/a RBS Citizens, N.A. (related document(s)). (Hanlon, William)
Newbury Common Associates, LLC filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on December 13, 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 15-12507. The bankruptcy case is currently assigned to United States Bankruptcy Judge Laurie Selber Silverstein. The law firm of Dechert LLP is acting as lead bankruptcy counsel to Newbury Common Associates, LLC in the bankruptcy case.