The company today was meeting with its bank creditors trying to arrange interim financing.
Prospect said the bank had extended its commitment to provide interim financing of $46 million for the $78.2 million offer.
Ben, what the hell's the story on our interim financing?
It had requested, but the bank committee rejected, about $500 million a month in interim financing.
The bankers said it would take too long to negotiate the interim financing.
In the meantime, the judge will arrange interim financing.
"We thought we would be able to arrange interim financing to get through this period of time," he said.
He is reported to have provided interim financing that allowed the deals to go through.
The interim financing in the regions which is often still necessary should be avoided in future.
Luckily they were able to get some interim financing.