Volunteer Energy gets interim approval of $5 million DIP facility

By Sarah Lizee

Olympia, Wash., April 5 – Volunteer Energy Services Inc. received interim approval of a $5 million debtor-in-possession facility with PNC Bank, NA as lender, according to an interim order filed Monday with the U.S. Bankruptcy Court for the Southern District of Ohio.

Interest will be a base rate plus 500 basis points, as previously reported.

A final hearing is scheduled for April 21.

The Pickerington, Ohio-based retail energy provider filed Chapter 11 bankruptcy on March 25 under case number 22-50804.

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