OCA Adds $15 Million To DIP Loan

Law360, New York (May 15, 2006, 12:00 AM EDT) -- Bankrupt orthodontic services company OCA Inc. has received a federal bankruptcy judge’s approval to borrow an extra $15 million on its debtor-in-possession loan, bringing the DIP loan total to $106.7 million.

The judge approved the loan on Friday, after greenlighting OCA's proposed plan of reorganization the previous day.

The proposed plan had been contested by some of the dentists affiliated with the company.

Those objections apparently failed to sway Judge Jerry A. Brown, who handed down an order Thursday saying that after consideration of arguments for...
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