Linc USA GP Bankruptcy New Filing Alert: Motion For Authority To Obtain Debtor-In-Possession Financing

On May 29, 2016, a motion for authority to obtain debtor-in-possession financing was filed in the bankruptcy case of Linc USA GP and its affiliates.

The filing was assigned docket number 11 and is described on the court’s official docket as follows:

Motion for Entry of Interim and Final Orders (I) Authorizing Debtors (A) to Obtain Postpetition Financing Pursuant to 11 U.S.C. §§ 105, 361, 362, 363(b), 364(c)(1), 364(c)(2), 364(c)(3), 364(d)(1) AND 364(e) and (B) to Utilize Cash Collateral Pursuant to 11 U.S.C. § 363, (II) Granting Adequate Protection to Prepetition Secured Parties Pursuant to 11 U.S.C. §§ 361, 362, 363, 364 AND 507(b) and (III) Scheduling Final Hearing Pursuant to Bankruptcy Rules 4001(b) and (c) Filed by Debtor Linc USA GP Hearing scheduled for 5/31/2016 at 03:30 PM at Houston, Courtroom 404 (MI). (Attachments: # 1 Exhibit A # 2 Exhibit B # 3 Exhibit C # 4 Proposed Interim Order) (Cohen, Jason) (Entered: 05/29/2016)

Linc USA GP filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on May 29, 2016. The bankruptcy case is pending before the United States Bankruptcy Court for the Southern District of Texas . The case number for the lead bankruptcy case is 16-32689. The bankruptcy case is currently assigned to United States Bankruptcy Judge David Jones. The law firm of Bracewell LLP is acting as lead bankruptcy counsel to Linc USA GP in the bankruptcy case.


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