Interim DIP Order entered in Tehum Care Services (formerly Corizon) Bankruptcy Proceedings
16 August 2024 - 8:14AM
Business Wire
Tehum Care Services, Inc. a correctional healthcare company
formerly known as Corizon Health, is pleased to announce that the
Bankruptcy Court in Southern District of Texas has entered a
Fifth Interim DIP Order (the “Order”) approving additional
post-petition $15.5M in financing in Tehum’s ongoing bankruptcy
proceedings. This Order provides for the funding of professional
fees and expenses in accordance with a budget approved by the
Debtor, The DIP Lender and the creditor committees.
After reaching a joint settlement with the creditor committees,
the Order is a vital next step in moving the case forward to final
resolution ensuring funding for professionals to see the case
through its anticipated completion.
Russell Perry, Chief Restructuring Officer of Tehum, stated, “We
are excited to see the entry of this Order which provides funding
for the professionals and moves us closer to a final resolution
which will pave the way for substantial recoveries to
creditors.”
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