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Shareholders, Trustee Clash Over Insolvency Claim

Law360 (April 26, 2006, 12:00 AM EDT) -- Stockholders in bankrupt Oneida Ltd. are fighting to recoup their losses, but in court papers filed Monday, the U.S. Trustee overseeing the Chapter 11 proceedings said they’re wasting everybody’s time.

Four institutions who own a total of 2,565,007 shares of Oneida stock are seeking a formally recognized committee to represent their interests in the Oneida bankruptcy proceedings that began on March 19. Their attorney, Robert J. Stark, filed a motion requesting that the court appoint an official equity committee on April 14.

Diana G. Adams, U.S....
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