Millenkamp Cattle, Inc, 24-40158

Millenkamp Cattle, Inc. and several affiliated entities are debtors-in-possession in jointly administered Chapter 11 bankruptcy cases in the District of Idaho.
The Debtors moved for continued authority to use cash collateral (i.e., funds subject to security interests of pre-petition lenders) through September 30, 2024.
Pre-petition secured lenders involved include Rabo AgriFinance, MetLife entities, and Conterra Holdings; Sandton Capital serves as the DIP lender.
The motion seeks interim relief to pay necessary business expenses per a court-approved budget during this period, subject to detailed reporting and oversight provisions.
The order contains extensive conditions for continued use, lender protections, and information-sharing/reporting duties, with explicit rights for secured lenders to withdraw consent upon certain payment defaults.

Issue	Plaintiff's Argument	Defendant's Argument	Held
Continued use of cash collateral	Debtors seek court approval to continue using cash collateral for operations per a strict budget	Secured lenders require adequate protection (e.g., liens, reporting) and express limits on use	Granted with detailed conditions about use, reporting, and protections
Adequacy of protection for lenders	Assert that protection liens and reporting arrangements provide sufficient security	Lenders demand continued and clear adequate protection, including reporting, default remedies, and priority	Court requires detailed liens, reporting, and default provisions as adequate protection
Reporting and oversight	Debtors propose regular variance and base certificates, and information access	Lenders and committee demand specific, frequent disclosures for oversight	Ordered: Weekly variance reports, borrowing base certificates, sales data, etc., to all key parties
Consequences of payment defaults	Debtors recognize need for accountability but seek flexibility	Lenders want a right to withdraw consent for continued cash use if material post-petition defaults	Court grants withdrawal-for-default right for non-payment of significant post-petition payables

No key cases cited with official reporter citations in this order.