Southcross Holdings LP Bankruptcy New Filing Alert: Motion For Authority To Obtain Debtor-In-Possession Financing

On March 28, 2016, a motion for authority to obtain debtor-in-possession financing was filed in the bankruptcy case of Southcross Holdings LP and its affiliates.

The filing was assigned docket number 9 and is described on the court’s official docket as follows:

Motion Regarding Chapter 11 First Day Motions Emergency Motion of Southcross Holdings LP, et al., for Entry of Interim and Final Orders (I) Authorizing the Debtors to Obtain Postpetition Secured Financing, (II) Granting Liens and Providing Superpriority Administrative Expense Claims, (III) Authorizing the Use of Cash Collateral, (IV) Granting Adequate Protection, (V) Modifying the Automatic Stay, (VI) Scheduling a Final Hearing, and (VII) Granting Related Relief Filed by Debtor Southcross Holdings LP (Attachments: # (1) Proposed Order # (2) Exhibit 1 to Exhibit A – Form of DIP Credit Agreement # (3) Exhibit 2 to Exhibit A – Budget # (4) Exhibit B – Cremens Declaration # (5) Exhibit C – Attorney Checklist Concerning Motion and Order Pertaining to Use of Cash Collateral) (Clement, Zack)

Southcross Holdings LP filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on March 27, 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 16-20111. The bankruptcy case is currently assigned to United States Bankruptcy Judge Marvin Isgur. The law firm of Kirkland & Ellis LLP is acting as lead bankruptcy counsel to Southcross Holdings LP in the bankruptcy case.


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