Wed, Jun 10th, 2009
Related topics:
* Co says filed Chapter 11 to allow for restructuring
* Has secured DIP financing of $110 mln (Adds detail)
NEW YORK, June 10 (Reuters) - Real estate developerCrescent Resources (CRC.V) on Wednesday said it had filed forbankruptcy protection to allow it to reduce debt and improveits capital structure.
The Charlotte, North Carolina-based company said it hadalso obtained Debtor-in-Possession (DIP) financing of $110million from a group of lenders, which will provide sufficientfunds to continue its business activities.
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