Last week, Diamond motioned the court regarding a “Fourth Stipulation” between it and JPMorgan Chase Bank. JPMorgan lent money to Diamond to help them through its Chapter 11 and the court needs to approve any changes to that agreement.

In the original motion, the modification would impact the “Amount and extend the Maturity Date.” Diamond and JPMorgan are in discussions regarding the Fourth Stipulation and the motion says they will confer with the Committee that represents the creditors. The current maturity date of the Final DIP (debtors in possession) as May 31, 2025. The current maximum outstanding principal amount under the DIP facility is $5.8 million.

Today, the court approved to set a hearing to “consider the relief requested” for May 29, 2025 at 10:30 am (Eastern Time). Any objections to the Motion to Approve Stipulation must be filed and served upon counsel for the Debtors on or before May 29, 2025, up to and including the time of the hearing. The details are still up in the air as to what exactly Diamond and JPMorgan are working on. It could be more time needed to pay off the loan or something else.

You can see the new motion below.