METRO Magazine Logo
MenuMENU
SearchSEARCH

Coach America granted approval on first day motions

Approved to obtain interim financing authority, to maintain existing cash management systems, and to pay vendors and suppliers in the ordinary course of business.

January 5, 2012
Coach America granted approval on first day motions

 

2 min to read


Coach America Holdings Inc. was granted approval on a series of first day motions filed to help support its customers, employees, suppliers and business partners; to obtain interim financing authority; to maintain existing cash management systems; and to pay vendors and suppliers in the ordinary course of business, according to a company statement.

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware granted the approval.

Coach America’s financial and operational stability going forward was enhanced through the granting of the following motions: payment of pre-petition and post-petition employee wages, salaries, business expenses and benefits, including medical, dental and life insurance benefits for current employees; interim approval for debtor-in-possession (DIP) financing of $30 million for use by the company to continue operations and purchase and pay for goods and services; and financing authority to pay certain pre-petition commitments that are necessary in the course of conducting business.

The DIP financing package was provided by a steering committee of Coach America’s existing senior lenders. The court has scheduled a final hearing on DIP financing on Friday, January 27.

“The approval of Coach America’s first-day motions by the court is an important initial step in the restructuring process and allows us to move forward with our normal operations, including paying vendors and suppliers in the ordinary course of business,” said George Maney, CEO of Coach America. “We remain focused on serving our customers and believe that the prompt approval of these ‘first day orders’ is good news for the company, as well as for our customers, employees, suppliers and business partners.”

As previously announced, Coach America Holdings Inc. and its U.S.-based subsidiaries filed to reorganize under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. More information about the Chapter 11 filing, which has been assigned case number 12-10010 (KG), is available on the Internet at www.coachamerica.com/restructure. The company is providing ongoing access to court documents, including today's orders, at www.bmcgroup.com/coachamerica.

More Motorcoach

An OCTA ZEB.
Technologyby Alex RomanJuly 31, 2026

Biz Briefs: OCTA Taps Clean Energy for Hydrogen Station, Stadler to Supply Via Rail Vehicles, and More

From manufacturers and suppliers to transit agencies and motorcoach operators, these updates offer a snapshot of the projects, partnerships and business moves driving the industry forward.

Read More →
A CharterUP branded Holon AV.
New Mobilityby Alex RomanJuly 31, 2026

CharterUP Expands Into New Mobility and Autonomous Transportation

Vice President of New Mobility Stephen Joos discusses how CharterUP is leveraging its nationwide transportation network, technology platform, and autonomous vehicle partnerships to expand into workforce mobility, campus shuttles, and transit solutions.

Read More →
A photo of an Amtrak train with a logo
Managementby Alex RomanJuly 24, 2026

Biz Briefs: STV teams with Amtrak, Motorcoach Operators Boost Fleet and Land Contracts, and More

From manufacturers and suppliers to transit agencies and motorcoach operators, these updates offer a snapshot of the projects, partnerships and business moves driving the industry forward.

Read More →
Ad Loading...
EPA Proposal Targets DEF-Related Engine Derates
Motorcoachby Alex RomanJuly 10, 2026

EPA Proposal to Ease Diesel Emissions Compliance Could Improve Reliability for Motorcoach Operators

The EPA is proposing to remove DEF-related engine derates for new heavy-duty diesel vehicles, a change bus operators say would improve safety and reliability while sparking debate over the future of emissions enforcement.

Read More →
An MCI J4500 for Rustad Tours
Motorcoachby StaffJune 26, 2026

Minnesota's Rustad Tours Takes Delivery of New MCI Motorcoach

The latest addition represents Rustad Tours’ 17th new MCI coach, marking more than four decades of partnership between the two companies.

Read More →
Endera electric buses for California’s Mendocino Transit Authority
Technologyby StaffJune 25, 2026

Biz Briefs: Endera Delivers to California, Safety Vision Teams with San Antonio's VIA, and More

From manufacturers and suppliers to transit agencies and motorcoach operators, these updates offer a snapshot of the projects, partnerships and business moves driving the industry forward.

Read More →
Ad Loading...
New MobilityJune 19, 2026

Modernizing Mobility with CharterUP CEO Armir Harris

From digital transformation to evolving customer demands, CharterUP's Armir Harris offers his perspective on the transportation industry's next chapter.

Read More →
Group announcing BUSES Act
Motorcoachby StaffJune 16, 2026

Bipartisan BUSES Act Seeks Changes to New York City's Bus Idling Enforcement Program

Backed by motorcoach operators, the legislation seeks to balance emissions goals with passenger safety by allowing limited idling for inspections, accessibility needs and extreme weather conditions.

Read More →
Driving Change Through Technology
Technologyby Alex RomanJune 12, 2026

METROspectives: CharterUP CEO Armir Harris on Modernizing Mobility

From digital transformation to evolving customer demands, CharterUP's CEO Armir Harris offers his perspective on the transportation industry's next chapter.

Read More →
Ad Loading...
A maintenance person with a tablet.
ManagementJune 5, 2026

Reinventing Fleet Maintenance with Real-time Visibility and AI

Transit leaders need to know what needs fixing, where to look, who is responsible, when work is completed, and what it costs without having to chase information across disconnected systems.

Read More →