A123 receives US court approval for DIP financing

By Emma Hughes
Published: Thursday, 08 November 2012

Company able to operate battery business throughout bankruptcy transaction

The US Bankruptcy Court for the district of Delaware has granted A123 Systems Inc. approval to use $50m of debtor-in-possession (DIP) financing, which is being provided by China’s Wanxiang Group Corp.

A123, a developer and manufacturer of advanced nanophosphate lithium ion phosphate batteries and systems, filed for bankruptcy...

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