Bankruptcy Attorney
Bankruptcy Lawyer Attorney Profiles Common Questions Bankruptcy Evaluation Office Locations

No Money Down on Chapter 13 Cases
For Qualified Wage Earners!
Chapter 7 Bankruptcy from $850

Information Center
Asset Protection
Bankruptcy Overview
Business Bankruptcy
Chapter 13
Chapter 11
Chapter 7
Creditor Harassment & Abuse
Debt Relief Options
Eliminating 2nd Mortgages
Fighting Foreclosure
Means Test
Rebuild Credit
Resources
Taxes & Bankruptcy
Bankruptcy Alternatives
Bankruptcy Exemptions
Bankruptcy Myths
Bankruptcy Process
Bankruptcy Time Line
Benefits of Bankruptcy
Chapter 7 vs. Chapter 13
Filing for Bankruptcy
Is Bankruptcy Right for Me?
Life After Bankruptcy
Why Hire a Bankruptcy Attorney
Will I Lose Anything?
Read our blog

Borders May Get Approval for Bankruptcy Financing

Once it makes some changes to its initial bankruptcy agreement, Borders Group Inc. could get the final approval it needs to get bankruptcy financing.

In the "omnibus hearing" held last week in the U.S. Bankruptcy Court's Southern District of New York several items were addressed regarding Borders' Chapter 11 bankruptcy case.   However the company is requesting an extension in order to give them more time to decide whether to sublease, renegotiate or exit leases at current locations across the country.  At this hearing the court granted Borders 90 additional days, on two of the standard 120 days, to make this decision.

This was good news for the company that needs this approval to get the $505 million line of bankruptcy financing through GE Capital. Yet this amount will be withheld until Judge Martin Glenn sees that changes have been made to the agreement, such as providing cash to unsecured creditors to examine secured creditors' claims.

If you are planning to file for bankruptcy, contact us to discuss your options with a Chicago bankruptcy lawyer.

Free Bankruptcy Evaluation
Eliminate Debt & Bills
123 W. Madison Street, Suite 205; Chicago, IL 60602
Attorney Web Design
The information on this website is for general information purposes only. Nothing on should be taken as legal advice for any individual case or situation.

Main Office: 123 W. Madison Street, Suite 205 Chicago, IL 60602
Phone Number: (312) 427-3100