OCA Chucks Equity Deal To Win Judge’s Favor

Law360, New York (January 8, 2007, 12:00 AM EST) -- After a bankruptcy judge struck down the orthodontics services company’s Chapter 11 plan Thursday, OCA Inc. has put forth a new plan without the contentious equity deal between a senior lender and some of its shareholders.

OCA has scrapped the equity deal between senior lender Silver Point Finance LLC and its large shareholders after U.S. Bankruptcy Judge Jerry Brown declined to approve it because it would have enabled Silver Point to recoup all of the money it loaned OCA and use the money to make gifts...
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