FAIRLESS HILLS, Pa. -- Borders Group, Inc. is ready to embark on an "aggressive timetable" to sell its business after Judge Martin Glenn granted approval for the company's entry into a second amendment of its $505 million bankruptcy financing facility. The bookseller chain aims to complete the sale process by the end of next month.
Judge Glenn was reluctant to grant approval of a $1 million financing amendment fee.
More stories on the Borders case are available at BORDERS GROUP BANKRUPTCY NEWS, Issue No. 20, published by Bankruptcy Creditors' Service, Inc.
The 16-page newsletter contains stories with these headlines:
 BORDERS WINS APPROVAL OF 2ND AMENDMENT TO $505MM DIP LOAN
 COURT RELUCTANTLY APPROVES $1-MIL. DIP LOAN AMENDMENT FEE
 BORDERS CAN START AGGRESSIVE TIMETABLE TO SELL BUSINESS
 DEBTORS' MOTION TO SELL TORRANCE MORTGAGE LOAN FOR $6.6MM
 DEBTORS' MOTION TO APPROVE HARRISPORT TERMINATION PACT
 DEBTORS' APPLICATION TO EMPLOY MORTAGE CORP. AS BROKER
 BANKRUPTCY PROFESSIONALS FILE FEE APPLICATIONS
A copy of the newsletter can be purchased on-line with a major credit card at https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.
BORDERS GROUP BANKRUPTCY NEWS tracks the restructuring of Borders Group Inc (MI).
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