Altegrity Inc. won court approval yesterday for financing and a deal with certain lenders designed to preserve some of its business and see it out of bankruptcy, the Wall Street Journal reported today. The company filed for chapter 11 protection in February after a unit that depends on government business lost its contracts. US Investigations Services, which vetted National Security Agency contractor Edward Snowden and Washington Navy Yard gunman Aaron Alexis, lost the federal government business after a significant cyberattack last year. Bankruptcy Judge Laurie Silverstein signed off on a loan that makes $45 million available during the chapter 11 proceeding and another $45 million to support Altegrity once it exits bankruptcy. Linked to the loan is a support agreement that provides the framework for a turnaround plan. The company must still hammer out a formal Chapter 11 plan, poll creditors and seek confirmation.
