Pipeline Inspection Co. Wins $5M Amended DIP Loan Wink

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By Vince Sullivan (May 13, 2022, 5:24 p.m. EDT) — Energy inspection firm Cypress Environmental Partners LP received approval on Friday to borrow up to $5 million as part of the chapter funding 11 after the debtor made changes to address concerns raised by a Texas bankruptcy judge earlier this week.

In a virtual hearing, U.S. Bankruptcy Judge Marvin Isgur says changes to debtor-in-possession loan documents resolved his inquiries about the loan program provided by the secured lender before the Argonaut Private Equity petition .

Changes included modifying the estate’s budget to reflect a new cash pool of $250,000 made available to general unsecured creditors and modifying Argonaut’s enforcement rights if the debtor…

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