In re American Media Inc.

Ruling: 
Debtor in possession allowed to use fixed amount of cash collateral to operate business.
Procedural posture: 
Debtors, a media corporation and affiliated businesses, filed petitions under Chapter 11 of the Bankruptcy Code and continued to operate their businesses as debtors in possession, pursuant to 11 U.S.C.S. §§ 1107(a) and 1108. The debtors sought interim and final orders authorizing them to use of cash collateral and providing adequate protection to a prepetition agent and prepetition lenders.
Issue: 
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Commercial case opionion summary, case decided on December 06,2010, LexisNexis #0111-133