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On June 14, 2013, OnCure commenced reorganization cases under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. With the execution of the investment agreement, RTS has agreed to be the lead bidder in a sale process to take place during the chapter 11 cases. If RTS's bid is successful and receives Bankruptcy Court approval, the acquisition will be completed through OnCure's chapter 11 plan of reorganization, which is expected to occur prior to the end of October 2013.
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On June 18, 2013, the Bankruptcy Court approved OnCure's $25 million debtor in possession credit facility on an interim basis and other relief related to the continued operation of its businesses.
OnCure's legal advisors in connection with its restructuring are Latham & Watkins LLP and Richards, Layton & Finger, P.A. Financial advisory services are being provided by Jefferies LLC. Match Point Partners LLC is providing management services to OnCure.
For more information on OnCure, please visit www.oncure.com. For more information on OnCure's bankruptcy case, please visit www.kccllc.net/oncure, email [email protected], or call the case-dedicated toll-free phone number at (877) 634-7166.
SOURCE OnCure Holdings, Inc.
