That pretty much kills off any chance of private debtor-in-possession financing, and even raises some serious doubts about future government debtor-in-possession financing too.
More pressing concerns include completing the debtor-in-possession financing and negotiating with unions.
The company said it received $20m in debtor-in-possession financing from B Riley Financial Inc.
The executives said they had arranged $25 million in debtor-in-possession loans to continue operations.
Judge Robinson also approved American's $200 million debtor-in-possession financing for T.W.A.
Ford has committed to provide Visteon with debtor-in-possession financing.
"Without the debtor-in-possession financing, they would have had to shut down," he said.
Bankrupt companies do this routinely under Chapter 11, using a tool called debtor-in-possession financing.
Macquarie Bank, meanwhile, is expected to provide a $70 million debtor-in-possession revolving credit facility.
Under the deal, United would receive $1.5 billion of debtor-in-possession financing while it reorganizes.
The company is likely to consider debtor-in-possession financing, among other options, bankers said.
