Spectrum Brands Reaches Deal To Quell Plan Objection

Law360, New York (June 24, 2009, 12:00 AM EDT) -- Consumer products maker Spectrum Brands Inc. said it had struck a deal to resolve its senior term lenders’ objection to the company’s proposed restructuring plan, a development the company said represented a big step toward its planned emergence from bankruptcy protection this summer.

Spectrum said Wednesday that a hearing on whether or not to confirm its reorganization plan was under way in the U.S. Bankruptcy Court for the Western District of Texas, but no further details were available Wednesday night.

The settlement pact would revise Spectrum’s...
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