Rockley Photonics gets interim approval to use cash collateral

By Sarah Lizee

Olympia, Wash., Jan. 30 – Rockley Photonics Holdings Ltd. received interim approval to access cash collateral, according to an order filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

The company said its prepetition noteholders have consented to the cash collateral use, subject to some rights and protections.

As previously reported, the company made its pre-packaged Chapter 11 filing with the support of the noteholders.

Wilmington Savings Fund Society, FSB is the trustee and collateral agent.

A further hearing is scheduled for March 3.

Cheshire, U.K.-based Rockley Photonics specializes in the research and development of integrated silicon photonics chipsets. The company filed bankruptcy on Jan. 23 under Chapter 11 case number 23-10081.

© 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.