Oriental Trading plan accepted by all but six voting creditors

By Caroline Salls

Pittsburgh, Dec. 14 - Oriental Trading Co., Inc.'s plan of reorganization was accepted by all but six voting creditors, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

All 36 holders of $391.52 million of first-lien claims, all 24 holders of $184.79 million of second-lien claims, all 13 holders of $280.87 million of first-lien guarantee claims, all 24 holders of $184.79 million of second-lien guarantee claims and all seven holders of $77.27 million of holdings/investors general unsecured claims voted to accept the plan.

In addition, 65 holders, or 91.55% in number, of $1.27 million, or 86.07% in amount, of general unsecured claims voted to accept the plan, while six holders, or 8.45% in number, of $205,359, or 13.93% in amount, of those claims voted to reject it.

The plan confirmation hearing is scheduled for Thursday.

Oriental Trading, an Omaha, Neb., direct marketer of party and school supplies, filed for bankruptcy on Aug. 25. The Chapter 11 case number is 10-12636.

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