Smith International won a week’s extension.

Smith won the extension for filing a bankruptcy reorganization plan because its creditors agreed that intense daily negotiations are bringing the parties closer to agreement on a debt repayment program. Newport Beach-based Smith filed for protection under Chapter 11 of the federal bankruptcy law last year after it was ordered to pay Hughes Tool Co. (now Baker Hughes) $205 million in a patent infringement suit. U.S. Bankruptcy Court Judge James R. Dooley set July 21 as the new date for a hearing on the plan. In a bid to head off further delays, an attorney for Baker Hughes said that if Smith does not file a reorganization plan by Aug. 4, Baker Hughes will demand payment of the full judgment instead of the $95-million settlement the two companies agreed on last month.