Legal Opinion
In Re Phoenix Steel Corp.
District Court, D. Delaware
Decided March 12, 1984No. Misc. 84-23 MMSPublishedCited by 9 opinions
1Opinion of the Court
OPINION
MURRAY M. SCHWARTZ, District Judge.
Phoenix Steel Corporation (“Phoenix”), operating under the protection of Chapter 11 of the Bankruptcy Code, is faced with a critical cash flow crunch. Phoenix has filed an application 1 under the super priority provision of the Bankruptcy Code, 11 U.S.C. § 364(d)(1), 2 to give a new lender, who proposes to advance $3 million, a first security interest in existing and future inventory 3 and, inter alia, a junior lien and security interest in existing and future accounts receivable. At present four French banks (the “French banks”), who are owed $26…
2Cases cited12 opinions
- Heritage Savings & Loan Ass'n v. Rogers Development Corp. (In Re Rogers Development Corp.)United States Bankruptcy Court, E.D. Virginia · 1980
- First National Bank of McDonough v. Shockley Forest Industries, Inc. (In Re Shockley Forest Industries, Inc.)United States Bankruptcy Court, N.D. Georgia · 1980
- General Electric Credit Corp. v. QPL Components, Inc. (In Re QPL Components, Inc.)United States Bankruptcy Court, E.D. New York · 1982
- Lincoln Bank v. High Sky, Inc. (In Re High Sky, Inc.)United States Bankruptcy Court, M.D. Pennsylvania · 1981
- American Bank & Trust Co. of Pa. v. Ram Manufacturing, Inc. (In Re Ram Manufacturing, Inc.)United States Bankruptcy Court, E.D. Pennsylvania · 1983
7 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- In Re Beker Industries Corp.United States Bankruptcy Court, S.D. New York · 1986
- In Re Aqua AssociatesUnited States Bankruptcy Court, E.D. Pennsylvania · 1991
- In Re RobbinsUnited States Bankruptcy Court, D. Massachusetts · 1990
- In Re Tenney Village Co., Inc.United States Bankruptcy Court, D. New Hampshire · 1989
- In Re Reading Tube IndustriesUnited States Bankruptcy Court, E.D. Pennsylvania · 1987
4 more not listed; retrieve them via the Exa API.