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Here are some of the latest bankruptcy stories we are following Wednesday on TheDeal.com. For more bankruptcy coverage and for the full stories, check out the bankruptcy channel on TheDeal.com or visit Bankruptcy Insider.
Asarco can tap $5M Bankrupt Asarco LLC can tap $5 million under a second postpetition loan while it scurries to find a buyer under an open plan of reorganization sale. - Terry Brennan Aloha Airlines converts to Ch. 7 Bankrupt Aloha Airlines Inc. has converted its filing from Chapter 11 to Chapter 7 now that lender GMAC Commercial Finance LLC has pulled the plug on final use of its cash collateral. GMAC refused to provide any additional cash since the $18.65 million final bid that Aloha received for its air cargo unit didn't meet the minimum $20 million in cash and assumed debt that GMAC wanted. Jupiter Holdings Group LLC and stalking-horse bidder Saltchuk Resources Inc. of Seattle pulled their final offers to acquire receivables. - Terry Brennan IBC wins amendment to DIP A Missouri judge gave Interstate Bakeries Corp. approval of an amendment to its debtor-in-possession financing from lender J.P. Morgan Chase Bank NA. - Jamie Mason RichFX to sell assets A Manhattan judge has approved the roughly $3.1 million sale of RichFX Inc.'s assets to its stalking-horse bidder Merchandise Advisor Corp. - Carolyn Okomo -The editors
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