Rochester Drug Cooperative secures interim access to cash collateral

By Caroline Salls

Pittsburgh, April 14 – Rochester Drug Cooperative, Inc. secured a second interim order allowing it to access cash collateral, according to an order filed Monday with the U.S. Bankruptcy Court for the Western District of New York.

The final hearing is scheduled for April 27.

As previously reported, the cooperative requested court approval to use the cash collateral of its pre-bankruptcy secured parties and arranger, swingline lender agent and letter-of-credit issuer M&T bank for working capital payments and to pay administrative costs and expenses.

Under the second interim order, Rochester Drug Cooperative’s access to the cash collateral will expire on May 7.

The company is a Rochester, N.Y.-based health care distributor. It filed bankruptcy on March 12 under Chapter 11 case number 20-20230.

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