The US Bankruptcy Court gave an order to Hinto Energy, Inc. to obtain DIP financing on an interim on November 21, 2017. As per the order, the debtor has been authorized to obtain a term loan in the amount of $0.10 million from a total facility of $0.50 million from Diversified Mineral Group Inc. The DIP loan would either carry an interest rate of 12% p.a., along with an additional 6% p.a. interest in the event of default. The DIP facility would mature either on 150 days or on the effective date of the plan, whichever is earlier. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.10 million towards unpaid administrative expenses and first priority lien upon and security interest in the debtor’s collateral. A final hearing on approval of the full DIP Loan request shall be held on January 4, 2018.