Verso Corporation Bankruptcy New Filing Alert: Motion For Authority To Obtain Debtor-In-Possession Financing

On May 16, 2016, a motion for authority to obtain debtor-in-possession financing was filed in the bankruptcy case of Verso Corporation and its affiliates.

The filing was assigned docket number 899 and is described on the court’s official docket as follows:

Motion to Shorten (Motion for Entry of Order Shortening Notice and Objection Periods for (I) Motion for Entry of Order, Purusant to Sections 105(a), 363, 503(b) and 507(a)(2) of the Bankruptcy Code, Authorizing Debtors to (A) Enter into and Perform Under Engagement Letters and Fee Letters Relating to Exit Financing, (B) Pay Fees and Expenses in Connection Therewith, and (C) Provide Related Indemnities and (II) Motion for Entry of an Order Authorizing the Debtors to File Fee Letters and Other Information Relating to Fees Under Seal) (related document(s)[896], [897], [898]) Filed by Verso Corporation. (Attachments: # (1) Exhibit A) (Steele, Amanda)

Verso Corporation filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on January 26, 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 16-10163. The bankruptcy case is currently assigned to United States Bankruptcy Judge Kevin Gross. The law firm of O’Melveny & Myers LLP is acting as lead bankruptcy counsel to Verso Corporation in the bankruptcy case.


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