Oneida Ltd., once the largest maker of stainless steel flatware, has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York. The company had earlier agreed to a debt for equity deal with its lenders and had already developed a reorganization plan with its creditors prior to filing for bankruptcy. The company expects that it will emerge from Chapter 11 in 90 days. As part of its filing, Oneida seeks to end payments on its pension plan, which it says is undervalued by $40 million. If approved, the Pension Benefit Guaranty Corp. will take over the plan. The company was founded in Oneida, NY in 1880. Ray