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The company has secured $70 million in debtor in possession financing.
America became a net debtor in 1989 and has remained one ever since.
"Debtor in possession" financing, the special protected lending to bankrupt firms in America, is still rare, and it would help.
The most famous debtor in literature, Dickens's William Dorrit, could never repay his creditors as long as they kept him in the Marshalsea jail.
Tropicana's reorganization plan calls for the money provided by Icahn Capital to be used to repay $65 million in "debtor in possession," or bankruptcy, financing.
A debtor in Chapter 9 does not necessarily have to get court approval before spending money, the way a corporation in Chapter 11 would.
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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.
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