Case Nos. 05-31696-BJH-11, Case Nos. 05-31694-BJH-11, 05-31697-SAF-11, 05-31693-HDH-11, 05-31689-SAF-11, 05-31690-HDH-11, 05-31691-SAF-11, 05-31692-BJH-11, 05-31956-HDH-11, 05-32021-BJH-11, Jointly Administered Under Case No. 05-31688-HDH-11.United States Bankruptcy Court, N.D. Texas.
September 29, 2005
Glenn A. Portman, Bennett, Weston LaJone P.C., Dallas, Texas, Attorney for Debtors and Debtors-In-Possession AND J. Maxwell Tucker, J. Frasher Murphy, Winstead Sechrest Minick P.C., Dallas, TX, Attorneys for Comerica Bank
Glenn A. Portman Bennett, Weston LaJone, P.C., Dallas, Texas, ATTORNEYS FOR THE ENTITY DEBTORS
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CONTINUED FINAL ORDER FOR USE OF CASH COLLATERAL THROUGH NOVEMBER 30, 2005
HARLIN HALE, Bankruptcy Judge
CAME ON FOR CONSIDERATION the Expedited Motion For Continued Use Of Cash Collateral Of Secured Parties Under Final Cash Collateral Order And Continued Adequate Protection Through November 30, 2005 (“Motion”) filed by the Debtors and upon the proceedings held before this Court, and good and sufficient cause appearing therefor,
THE COURT HEREBY FINDS:
A. On February 10, 2005 (the “Petition Date”), the Debtors filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (the “Chapter 11 Cases”). The Debtors are currently operating their businesses and managing their properties as debtors-in-possession pursuant to Sections 1107(a) and 1108 of the Bankruptcy Code. An Official Committee of Unsecured Creditors has been appointed.
B. This Court has jurisdiction over this matter pursuant to 28 U.S.C. § 1334. This is a core proceeding pursuant to 28 U.S.C. § 157(b)(2). Venue of the Chapter 11 Cases is proper in this district pursuant to 28 U.S.C. §§ 1408 and 1409.
C. The Court entered a Final Cash Collateral Order [Docket # 324] providing Comerica and Northeast protections as secured creditors.
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D. On August 11, 2005, the Court entered a Continued Final Order for Use of Cash Collateral [Docket # 653], which authorized the Debtors to use cash collateral through September 30, 2005.
E. Cause exists to continue that Final Cash Collateral Order through November 30, 2005 in accordance with the budgets for October and November, 2005 annexed hereto.
F. An immediate and critical need exists for the Debtors to continue authority to use cash collateral which is vital to the preservation and maintenance of the assets of the Debtors’ estates and continued operations.
THEREFORE, IT IS HEREBY ORDERED AND ADJUDGED THAT:
1. The Debtors shall be permitted to continue use of cash collateral in accordance with, and only in accordance with the terms of this Order and the Budget, for October 2005 attached hereto as Exhibit A.
2. The Debtors shall be permitted to continue use of cash collateral in accordance with, and only in accordance with the terms of this Order and the Budget, for November 2005 also attached hereto as Exhibit A; provided however, that the Debtors shall have authority to use cash collateral for November 2005 only if the confirmation hearing on the Third Amended Joint Plan of Reorganization commences on or about October 12, 2005. In the event the Debtors are unable to meet this condition, the Debtors may nonetheless request authority from this Court to use cash collateral for the month of `November 2005.
3. The terms of the Final Cash Collateral Order [Docket # 324] except for reference to the monthly Budget shall remain in force.