MiniScribe Corp, Longmont, Colorado has now had approval from the Bankruptcy Court to borrow $15m from Standard Chartered Bank in addition to the $5m borrowed earlier in the year, so as to enable the company to continue its business and to start volume ramp-up of the 7000 Series of disk drives until a new investor, as planned, buys the operating assets of the bankrupt disk drive manufacturer: the order provides for a court-supervised sale of the company’s assets to the investor with the highest bid in mid-April, giving an additional month to seek possible buyers over the March sale date originally set.
