Ahern Rentals Inc. announced that on Friday, January 27, 2012, the United States Bankruptcy Court for the District of Nevada in Reno, Nevada approved the final Debtor-in-Possession (DIP) financing with approximately $66 million of availability.
In addition, the court approved a series of other motions to ensure that the Company will not have any interruption in maintaining and honoring its commitments to its current customers, vendors and employees during the reorganization process. Included in these motions was a 503 (b) (9) motion which allows (but does not require) Ahern to pay its vendors for goods received within 20 days of filing provided that the vendor continues to provide goods on the same terms to the Company.
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