Bankruptcy Update: Solar Cosmetic, ImageKing and more

Here are some of the latest bankruptcy stories our reporters have been covering Friday morning on TheDeal.com. For more check out the bankruptcy channel on TheDeal.com or visit Bankruptcy Insider.

Solar's DIP approved
Bankrupt Solar Cosmetic Labs Inc. won final court approval for its $2.4 million postpetition loan as creditors seek to convert the case to a Chapter 7 liquidation. - Terry Brennan

ImageKing to tap factoring DIP
A New York judge has granted ImageKing Visual Solutions Inc. final approval of a debtor-in-possession financing agreement with Amerisource Funding Inc. - John Blakeley

Greektown clears one DIP hurdle
Bankrupt Greektown Holdings LLC has been cleared to tap a $150 million debtor-in-possession loan to pay the contractors and other workers that are expanding its Detroit casino. - Ben Fidler

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