American Laser Gets Go-Ahead For $13M Bankruptcy Loan

Law360, Wilmington (December 9, 2011, 9:15 PM EST) -- Laser hair removal company American Laser Centers LLC won bankruptcy court approval Friday to borrow $13 million to fund operations and the likely sale of its assets to private equity lender Versa Capital Management LLP.

U.S. Bankruptcy Judge Mary F. Walrath signed off on the interim portion of a debtor-in-possession loan at a hearing in Delaware. The financing — to be worth $58 million on final approval — was also provided by Versa in support of efforts to snatch up American Laser by bidding its $40...
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