Wornick voting creditors support reorganization plan

By Caroline Salls

Pittsburgh, June 12 - The Wornick Co.'s plan of reorganization was accepted by a significant majority of the company's voting creditors, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of Ohio.

Specifically, the one holder of $27.5 million in pre-bankruptcy secured lender agreement claims voted to accept the plan.

In addition, 53, or 88.33% in number, of the 60 holders of 10 7/8% senior secured note claims voted to accept the plan. The accepting noteholders own $108.29 million, or 96.01% in amount, of the claims.

Meanwhile, the seven noteholders, or 11.67% in number, who voted to reject the plan own $4.5 million of the claims, or 3.99% in amount.

Wornick's plan confirmation hearing is scheduled for June 25.

Wornick, a Cincinnati-based food processing and packaging company, made a pre-packaged bankruptcy filing on Feb. 14. Its Chapter 11 case number is 08-10654.

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