June 24, 2015
Colt Defense LLC got the blessing of a Delaware bankruptcy judge Wednesday for $75 million in newly arranged financing that provides the iconic gunsmith with $20 million for its Chapter 11 case and defuses an expected financing duel with bondholders.
June 22, 2015
A group of Colt Defense LLC bondholders objected Friday to the gun maker's bid to secure $20 million in bankruptcy financing, saying the arrangement would force a speedy sale to major stakeholder Sciens Capital Management LLC who the bondholders say has fleeced the company.
June 16, 2015
A Delaware bankruptcy judge gave Colt Defense LLC the OK on Tuesday to tap $6 million in stopgap financing from senior lenders, but a major battle is brewing with bondholders that are challenging the trajectory of the debtor's case and will be allowed to present an alternative loan next week.