Diamond and JPMorgan Chase Bank Propose their Seventh Stipulation Over their Credit Agreement

As part of Diamond‘s chapter 11, they entered into a loan agreement with JPMorgan Chase Bank to get them through the process. The chapter 11 process began in January 2025 and looks like it’ll extend into 2026 before all is settled and done. As it’s a loan, there’s due dates and with the process dragging out, the due dates have had to be adjusted along with details of the loan.

The sixth stipulation was filed in August 2025 and that filing had the loan projected to be paid off in October. This seventh stipulation would attach a ninth amendment to the Debtor-In-Possession Credit Agreement between Diamond and JPMorgan, but doesn’t seem to be about the due date or amount.

This new amendment doesn’t seem to have as much to do with the amount or timeframe but more towards aspects of the agreement and instead has to do with the amount of money collected and the bank’s role in loans concerning fees or disbursements to any professionals incurred in connection with the chapter 11 case.

It’s an intriguing one that feels like it’s setting up whatever endgame Diamond and JPMorgan see coming.

The filing says that the plan has been shared with the Official Committee of Unsecured Creditors and that committee has signed off on it. A hearing is scheduled for October 22.


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