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[$$] Aceto Wins Approval to Tap Bankruptcy Loan

Judge Vincent Papalia of the U.S. Bankruptcy Court in Newark, N.J., gave Aceto the go-ahead to start using a loan to help it navigate its chapter 11 proceedings. Aceto’s $60 million secured financing package, of which $15 million is available immediately, is being provided by pre-bankruptcy lenders. The interim approval of the financing also includes the “roll-up” of $23 million in revolving loans that the lenders had provided to the company in January to give it liquidity as it began marketing its assets.