HOUSTON--(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.”