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To embed, copy and paste the code into your website or blog: The ability of a bankruptcy trustee or chapter 11 debtor-in-possession ( DIP ) to obtain credit or financing during the course of a bankruptcy case is often crucial to the debtor s prospects for either maintaining operations pending the development of a confirmable plan of reorganization or facilitating an orderly liquidation designed to maximize asset values for the benefit of all stakeholders. In a chapter 11 case, financing (and/or cash infusions through recapitalization) also is often a key component of the reorganized debtor s ability to operate post-bankruptcy. Section 364 of the Bankruptcy Code includes provisions specifically governing the circumstances under which a trustee or DIP can obtain credit or financing, including secured financing that primes existing secured creditors liens, during a bankruptcy case. It is unclear, however, whether those provisions apply to post-confirmation exit financing. ....