RE Loans Declares Bankruptcy in Texas

R.E. Loans, LLC commenced chapter 11 proceedings in the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division. The case no. is 11-35865-bjh11 and has been assigned to the Honorable Barbara J. Houser.

1. Motion For Order (I) Authorizing Debtors To (A) Obtain Interim Postpetition Financing On A Superpriority, Secured And Priming Basis In Favor Of Wells Fargo Capital Finance, LLC; (B) Turn Over Cash Collateral On An Interim Basis; (C) Provide Adequate Protection To Wells Fargo Capital Finance, LLC And The Noteholders; (D) Modifying The Automatic Stay; And (E) Authorizing Debtors To Enter Into Postpetition Agreements With Wells Fargo Capital Finance, LLC; And (II) Scheduling, And Establishing Deadlines Relating To A Final Hearing And Order Authorizing The Debtors To Obtain Postpetition Financing And Use Of Cash Collateral; Memorandum Of Points And Authorities (“DIP Financing Motion”);

 

2. Exhibit “1″ to the DIP Financing Motion “Joint Stipulation And Agreed Interim Order: (I) Authorizing Debtors To (A) Obtain Post-Petition Financing On A Super-Priority, Secured And Priming Basis In Favor Of Wells Fargo Capital Finance, LLC; (B) Use Cash Collateral On An Interim Basis, (C) Provide Adequate Protection To Wells Fargo Capital Finance, LLC And The Noteholders, And (D) Enter Into Post-Petition Agreements With Wells Fargo Capital Finance, LLC; (II) Modifying The Automatic Stay, And (III) Scheduling A Final Hearing Pursuant To Bankruptcy Rule 4001;”

 

3. Declaration Of James A. Weissenborn In Support Of Motion For Order Authorizing Debtors To (A) Obtain Postpetition Financing On A Superpriority, Secured And Priming Basis In Favor Of Wells Fargo Capital Finance, LLC (“Wells Fargo”); (B) Turnover Cash Collateral To Wells Fargo; (C) Provide Adequate Protection To Wells Fargo And The Noteholders; And (D) Enter Into Postpetition Agreements With Wells Fargo (“Weissenborn DIP Financing Declaration”‘)

 

 

4. Exhibits A through G to the Weissenborn DIP Financing Declaration

 

 

5. Application To Authorize Employment Of Mackinac Partners And James A. Weissenborn On An Interim And Final Basis From The Petition Date, To Provide Interim Management And Management Assistance To The Debtors Pursuant To 11 U.S.C. § 363 (“Mackinac Employment Application”);

 

 

6. Declaration Of James A. Weissenborn In Support Of Application To Authorize Employment Of Mackinac Partners And James A. Weissenborn On An Interim And Final Basis From The Petition Date, To Provide Interim Management And Management Assistance To The Debtors Pursuant To 11 U.S.C. § 363; and

 

 

7. Exhibits to the Mackinac Employment Application.

 The Court has not set a hearing on any of these motions. The Debtors have asked that the first day motions be set for a preliminary hearing granting interim relief on either Thursday, September 15, 2011 or Friday, September 16, 2011. I will l notify you by email of the hearing date and time as soon as the Court rules on the Debtors’ request for expedited hearings.

I will post the documents after 10pm tonight.