Oneida granted exclusivity extension

By Caroline Salls

Pittsburgh, July 14 - Oneida, Ltd. obtained an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company's exclusive plan filing period was extended to Aug. 31 from July 17 and the solicitation period to Oct. 30 from Oct. 15.

On July 7, the official committee of equity security holders objected to the exclusivity extension, saying that if the court denies Oneida's prepackaged reorganization plan, the equity committee would be in a position to formulate and file a confirmable Chapter 11 plan of reorganization in a quick fashion.

"It is wholly appropriate - and in fact necessary - for other parties-in-interest, and the equity committee in particular, to now have the opportunity to file a Chapter 11 plan. Accordingly, there is no cause to extend the exclusive periods, and the exclusivity extension motion should be denied," the equity shareholders said in the objection.

Oneida, the Oneida, N.Y, company that makes flatware, dinnerware, crystal and metal serving pieces for consumers and the food services industry, filed for Chapter 11 on March 19. Its Chapter 11 case number is 06-10489.

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