American Physician Partners gets interim access to cash collateral

By Sarah Lizee

Olympia, Wash., Sept. 21 – American Physician Partners, LLC received interim approval to access cash collateral, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the company has asked the court for approval to use about $15 million in cash collateral in line with a budget during the Chapter 11 proceedings.

Goldman Sachs Specialty Lending Group, LP and prepetition secured lenders have an interest in the collateral.

There was about $589.61 million outstanding under the company’s prepetition secured credit agreement as of Aug. 31.

A final hearing is scheduled for Oct. 18.

American Physician Partners is a scaled emergency department and hospitalist management platform based in Brentwood, Tenn. The company filed bankruptcy on Sept. 18 under Chapter 11 case number 23-11469.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.