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Newland International granted use of cash collateral through June 7
By Jim Witters
Wilmington, Del., May 17 - Newland International Properties, Corp. received its second interim approval for the use of cash collateral, according to a May 17 filed with the U.S. Bankruptcy Court for the Southern District of New York.
The approval is to use the cash collateral of pre-bankruptcy secured parties through June 7.
Newland, a Panama City-based developer of property projects under the Trump Ocean Club International Hotel & Tower name on land owned by Ocean Point Development, Corp., filed a pre-packaged bankruptcy on May 6. The Chapter 11 case number is 13-11396.
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