Oriental Trading Files Prearranged Ch. 11 Plan

Law360, New York (August 25, 2010, 4:52 PM EDT) -- Party supply and novelty goods company Oriental Trading Co. Inc. has filed for Chapter 11 protection armed with a prearranged plan of reorganization backed by a majority of the company's first-lien lenders.

The Omaha, Neb.-based company said in a statement Wednesday that it had voluntarily filed a petition with the U.S. Bankruptcy Court for the District of Delaware, noting that its prenegotiated plan is designed to reduce the company's funded debt by more than 70 percent to $200 million, as well as improve its capital structure...
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