Wornick's Ch. 11 Plan Wins Over Most Creditors

Law360, New York (June 16, 2008, 12:00 AM EDT) -- A majority of The Wornick Co.'s senior secured noteholders has voted to approve the bankrupt military food supplier's Chapter 11 plan even as a minority of noteholders continued to claim the reorganization plan is unfair.

Fifty-three holders of 10 7/8% senior secured note claims due 2011, or 88.33%, voted to accept the plan, representing over $108 million, or 96% of that class's claims, according to the voting agent's declaration, filed June 11 in the U.S. Bankruptcy Court for the Southern District of Ohio.

Seven senior secured...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.