Shortly after seeking bankruptcy protection, Hollywood post-production sound company Todd-Soundelux LLC is seeking immediate access to the cash it needs to keep its new reorganization afloat, the Wall Street Journal reported yesterday. Todd-Soundelux, which has worked on such films and television shows as “Lone Survivor,” “Muppets Most Wanted” and “Game of Thrones,” says that it has struck a deal with lender PNC Bank to use the cash collateral securing the bank’s claims. It’s asking the Los Angeles bankruptcy court to approve the deal with PNC, which last year extended Todd-Soundelux a $5 million revolving loan. The company reported assets and debts each in the range of $1 million to $10 million in its chapter 11 petition.
