Spectrum Brands' confirmation order stayed until July 27 after appeal

By Caroline Salls

Pittsburgh, July 16 - Spectrum Brands, Inc.'s plan confirmation order was stayed until July 27 as a result of the appeal filed Wednesday by the company's official committee of equity security holders, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The company said the committee is expected to seek a further stay of the confirmation order from a federal district court.

If that stay is not granted, Spectrum said it will be free to implement the plan after the automatic stay expires.

As previously reported, the U.S. Bankruptcy Court for the Western District of Texas announced confirmation of the plan on June 25. The court entered its written confirmation order on Wednesday.

Spectrum Brands is an Atlanta-based consumer products company and supplier of batteries, lawn and garden products, pet supplies, shaving and grooming products, household insect control products, personal care products and portable lighting.

The company filed for bankruptcy on Feb. 3. Its Chapter 11 case number is 09-50455.

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