MediCor looks to extend DIP facility maturity to May 31

By Caroline Salls

Pittsburgh, April 7 - MediCor Ltd. has asked the U.S. Bankruptcy Court for the District of Delaware to extend the maturity of its $7 million in debtor-in-possession financing to May 31 from April 15, according to a Friday court filing.

According to the motion, MediCor borrowed $5.36 million of the DIP facility through March 31.

The company said the extension will give it sufficient liquidity to continue operations through the early May closing of its proposed asset sale and allow it more time to resolve open issues in its bankruptcy case.

MediCor, a North Las Vegas, Nev., health care company that makes and sells products for the aesthetic, plastic and reconstructive surgery and dermatology markets, filed for bankruptcy on June 29, 2007. Its Chapter 11 case number is 07-10877.

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