Cahill Represents Orleans Homebuilders in Voluntary Chapter 11 Proceedings and $40 Million DIP Financing
Date: 03/01/10
Cahill is representing Orleans Homebuilders, Inc., ("Orleans") and 58 affiliated entities in connection with their Chapter 11 bankruptcy cases pending in the U.S. Bankruptcy Court for the District of Delaware in Wilmington. Orleans' bankruptcy filings were made after their $350,000,000 senior secured loan facility matured.
Cahill is also representing Orleans in connection with their announced $40,000,000 debtor-in-possession (DIP) financing.
Orleans' homebuilding and management services operations in eight states will continue without interruption. Orleans is pursuing strategic alternatives, including a recapitalization or sale.