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Judge OKs $15M DIP Package In InSight Ch. 11

Law360 (January 4, 2011, 6:38 PM EST) -- A bankruptcy judge on Tuesday approved InSight Health Services Holdings Corp.'s $15 million debtor-in-possession financing package from its existing revolving lender Bank of America NA.

Chief Judge Arthur J. Gonzalez of the U.S. Bankruptcy Court for the Southern District of New York signed off on the package along with several other first-day motions, including to allow the bankrupt diagnostic imaging services provider to pay its employees and insurance premiums.

Bank of America is providing the debtor-in-possession financing as well as post-petition financing.

InSight filed its latest...
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