On May 16, 2014, an order regarding the motion for authority to use cash management systems was filed in the bankruptcy case of MPM Silicones, LLC (d/b/a Momentive Performance Materials) and its affiliates.
The filing was assigned docket number 222 and is described on the court’s official docket as follows:
Final Orders Signed on 5/16/2014 Authorizing: (A) Continued Use of the Debtors’ Cash Management System and Procedures; (B) Maintenance and Continued Use of Existing Bank Accounts; (C) Waiver of Certain Operating Guidelines Relating to Bank Accounts; and (D) Continuation of Intercompany Transactions and Accordance of Administrative Expense Status to Intercompany Claims (Related Doc # ) . (Li, Dorothy)
MPM Silicones, LLC (d/b/a Momentive Performance Materials) filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on April 13, 2014. The bankruptcy case is pending before the United States Bankruptcy Court for the Southern District of New York . The case number for the lead bankruptcy case is 14-22503. The bankruptcy case is currently assigned to United States Bankruptcy Judge Robert Drain. The law firm of Willkie, Farr & Gallagher LLP is acting as lead bankruptcy counsel to MPM Silicones, LLC (d/b/a Momentive Performance Materials) in the bankruptcy case.