Equity Committee Objects OCA DIP Loan Extension

Law360, New York (August 9, 2006, 12:00 AM EDT) -- OCA Inc.’s official committee of equity holders has come out against the orthodontic services company’s motion to increase its debtor-in-possession loan by $5 million.

In documents filed Tuesday with the U.S. Bankruptcy Court in New Orleans, the equity holders said the transaction would directly contradict OCA’s business plan as set forth in its disclosure statement.

“The motion…is nothing more than a thinly veiled attempt to sidetrack the equity committee and frustrate the equity committee’s efforts to propose an alternative transaction to the debtors’ amended and supplemental...
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