A judge said equipment renter Ahern Rentals Inc. can begin tapping a $350 million bankruptcy loan from its big-bank lenders, mostly to pay off some of its debt.
Judge Bruce Beesley of U.S. Bankruptcy Court in Reno, NV, last week approved Ahern's request to borrow $20 million on the loan before a final hearing is held early next year. Loaning Ahern the money is a group of the family-owned company's existing lenders, including Bank of America Corp. (BAC).
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