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WILMINGTON, Del. — A Massachusetts firm that received a $39 million loan from the Department of Energy before declaring bankruptcy Sunday won interim approval Wednesday from a Delaware judge to use cash collateral for the loan to help pay operating expenses during its reorganization.
Judge Kevin Carey overruled an objection by the DOE in granting permission to Beacon Power Corp., which makes energy-storage systems, to use $3 million in cash collateral to keep its business going.
Denver Post wire services
