Bouchard Transportation has unlocked new financing as the company's founding family is further marginalised from the organisation as it continues under bankruptcy protection.
US Bankruptcy Judge David Jones has signed off on the Long Island articulated tug-barge owner's new $90m debtor-in-possession (DIP) financing plan pitched in March after it was unable to fully unlock its initial funding.
"Without a new DIP facility, [Bouchard] will be unable to operate their business, pay employees, vendors, and...
