About Bankruptcy Financing


A judge has given the approval for Great Atlantic & Pacific Tea Co. (GAPTQ) to continue drawing funds from its $800 million bankruptcy loan after the grocery chain pacified several creditors who were concerned that the financing would prevent them from their entitled ‘adequate protection’ if their claims diminish in value. A&P’s $800 million debtorin-possession (DIP) loan was underwritten by J.P. Morgan Chase & Co.

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