Civi,

The court has approved the "Initial order" ONLY.

"The Plan" which is the restructuring proposal, hasn't even been disclosed yet...and when it is presented, the monitor (Ernest Young), the majority of the creditors, KRY, and the court all have to agree to it.

The DIP financing will have to be negotiated with the lenders with the expectation of approval and presented as part of "The Plan" Actual court approval will come after... ie when the court approves "The Plan" for restructuring.

I suggest you read this:

http://www.pwc.com/ca/en/car/what-is-ccaa.jhtml

NZranger