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WorldSpace gains access to US$2 million in interim DIP financing

Submit on Thursday, October 23rd, 2008 05:53

WorldSpace, Inc. has received approval of the United States Bankruptcy Court in Delaware for the first part of an interim Debtor-in-Possession (DIP) financing in an amount up to US$2 million which will enable the company to meet payroll obligations to critical employees and commence a process to sell the company or its assets.

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This entry was posted on Thursday, October 23rd, 2008 at 5:53 am and is filed under LAW & ORDER. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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