Saturday, September 17, 2011

Donnelley gets OK to use cash - Triangle Business Journal:

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Judge Kevin Gross of the U.S. Bankruptc Court in Wilmington, on June 1 granterd R.H. Donnelley (OTC:RHDC) authority to access more than $300 milliob of its available cash to ensure continued supply of products toits customers. "Thd relief granted yesterday ensures R.H. Donnelley can continue businessw as usual as we take steps to restructurdthe company's balance sheet and place R.H. Donnelleu on a more solid financial foundation," Davir C. Swanson, chairman and chief executive officeeof R.H. Donnelley, said in a written statement.
The company addeed that the judge also granted othercustomary "first day hearing" including motions to continur paying employee wages and benefits and to honot obligations to the firm's R.H. Donnelley, which employs 450 people in Cary and filed for Chapter 11 bankruptcy onMay 28, 2009.

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