EXIDE BANKRUPTCY BREAKING NEWS: Exide files Plan of Reorganization and Disclosure Statement
Exide Technologies Files Plan Of Reorganization And Disclosure Statement
There is substantial support among the Supporting Noteholders for entry into a definitive backstop agreement for the $175 million in new capital contemplated under the Plan, and the Company continues to negotiate the terms of that agreement. Exide also intends to file a motion to seek approval from the Bankruptcy Court regarding the adequacy of information in its disclosure statement during the upcoming weeks so that it may seek confirmation of the Plan consistent with the milestones under the DIP Credit Facility.Â The Company’s goal is to emerge from Chapter 11 restructuring of its U.S. operations by March 31, 2015.
Bankruptcy Court filings, including the Plan and related disclosure statement, are available atÂ http://www.exiderestructuringinfo.com.Â Additional details can be found in the Company’s 8-K, to be filed with the U.S. Securities and ExchangeÂ Commission, atÂ http://ir.exide.com/sec.cfm.Â The PSA is included in the Company’s 8-K, filed on November 5, 2014.Â Additionally, interested parties may direct questions about Exide’s bankruptcy and its Plan using the following toll-free numbers: 888.985.9831 for U.S. suppliers or 855.291.0287 for all other groups.