Oneida's Exit Financing Worries Equity Holders

Law360, New York (April 19, 2006, 12:00 AM EDT) -- A U.S. bankruptcy court judge has approved Oneida Ltd.’s exit financing package, but the lender’s retention may be put on hold while issues raised by an ad hoc committee of equity holders in the company’s Chapter 11 case are resolved.

Judge Allan Gropper of the U.S. Bankruptcy Court for the Southern District of New York signed off on the order for a $170 million financing package at a Monday hearing, according to Douglas Bartner, debtor counsel with Shearman & Sterling LLP.

The exit loan, which is...
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