New Delhi, Jan. 21 -- Borden, one of America's favorite dairy companies founded in 1857, announced that it and certain affiliates (collectively, "Borden" or the "Company") received court approval last Wednesday of all initial motions filed after it initiated voluntary reorganization proceedings in the District of Delaware under Chapter 11 of the Bankruptcy Code. These approvals provide interim authorization for the Company to continue paying employee wages, benefits and reimbursable expenses, as well as critical vendor invoices and expenses related to pre-petition obligations to customers that were committed to prior to filing.
"We are thrilled that Borden had a very productive court hearing last week," said Borden CEO Tony Sarsam. "Earnin...