Stanadyne receives interim court approval to access cash collateral

By Sarah Lizee

Olympia, Wash., Feb. 23 – Stanadyne LLC received interim approval to access cash collateral, according to an order filed with the U.S. Bankruptcy Court for the District of Delaware.

Cerberus Business Finance, LLC and other prepetition secured lenders have an interest in the capital.

The company said it needed immediate access to cash collateral in order to avoid irreparable harm to its business.

A final hearing is scheduled for March 14.

Stanadyne is an automotive parts manufacturer based in Jacksonville, N.C. The company filed bankruptcy on Feb. 16 under Chapter 11 case number 23-10207.

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