Lead Free Frisco

LAW 360 Exide Gets Nod For Ch. 11 Reorganization Plan Disclosure By Jamie Santo Law360, Wilmington (February 04, 2015, 7:50 PM ET) — A Delaware bankruptcy judge on Wednesday gave Exide Technologies Inc. the green light to solicit votes for a restructuring plan that would trim roughly $600 million in debt and blessed a slate of motions […]

LAW 360 Exide Unsecured Creditors Say Ch. 11 Plan Won’t Fly By Matt Chiappardi Law360, Wilmington (January 02, 2015, 7:33 PM ET) — The unsecured creditors committee for bankrupt Exide Technologies Inc. blasted the battery maker’s disclosure statement Friday, arguing it describes a “patently unconfirmable” plan that was proposed in bad faith because the debtor only negotiated […]

On Dec. 31, 2014, Roberta A. DeAngelis, the United States Trustee for Region 3 filed a Protective Objection to and Reservation of Rights Regarding Exide’s Motion for Entry of an Order (a) Approving the Adequacy of the Exide’s Disclosure Statement; (b) Approving Solicitation and Noticing Procedures with Respect to Confirmation of Exide’s Proposed Plan of Reorganization; (c) […]

Bloomberg News Exide Shareholders Lose Bid for Bigger Role in Bankruptcy By Steven Church December 11, 2014 Shareholders of Exide Technologies, the 125-year-old battery maker, are close to being wiped out and don’t need a court-approved committee to help them fight a reorganization plan that would pay them nothing, a judge said. U.S. Bankruptcy Judge Kevin […]

CLICK HER TO READ BANKRUPTCY COURT ORDER ALLOWING EXIDE TO ENTER INTO AGREEMENT WITH DTSC LASTREETSBLOG.COM Exide Settlement with DTSC Limits (For Now)* Homes that Can Be Tested for Lead, County Supervisors Explore Legal Options  Thursday, November 20, 2014 by Sahra Sulaiman Good news, good people of Maywood, Boyle Heights, and East L.A. who live within […]

THE COPY BELOW IS TAKEN DIRECTLY FROM EXIDE’S FILING WITH THE SEC On November 17, 2014, Exide Technologies (“Exide” or the “Company”) filed with the Bankruptcy Court (1) a proposed plan of reorganization (the “Proposed Plan”) and (2) a related proposed disclosure statement (the “Proposed Disclosure Statement”). Proposed Financial Projections were attached to the Proposed […]

LAW 360  LA Says Exide’s Ch. 11 Vernon Plant Deal Moving Too Fast By Matt Chiappardi Law360, Wilmington (November 17, 2014, 5:05 PM ET) — Both the city and county of Los Angeles balked Monday at the speed of a nearly $50 million deal bankrupt Exide Technologies Inc. struck with California regulators over its troubled Vernon plant, […]

THE STREET.COM Exide Technologies Files Plan Of Reorganization And Disclosure Statement 11/17/14 – 09:15 PM EST MILTON, Ga., Nov. 17, 2014- Exide Technologies today that it has filed its plan of reorganization (the “Plan”) and disclosure statement with the U.S. Bankruptcy Court for the District of Delaware. The Plan and disclosure statement are consistent with […]

TAKEN FROM EXIDE NEWS RELEASE Exide Technologies Enters Into Plan Support Agreement MILTON, Ga., Nov. 4, 2014 (GLOBE NEWSWIRE) — Exide Technologies (the “Company”), a global leader in stored electrical-energy solutions, announced today that it entered into a plan support agreement (“PSA”) with holders of a majority of the principal amount of Exide’s senior secured […]

LAW 360 Bankrupt Exide Gets Nod To Extend $560M DIP Loan By Jamie Santo Law360, Wilmington (October 31, 2014, 6:09 PM ET) — A Delaware bankruptcy judge signed off Friday on Exide Technologies Inc.’s proposed extension of its $560 million debtor-in-possession financing package, but only after the battery maker agreed to terminate the Chapter 11 exclusivity period. […]

In a motion before the Delaware bankruptcy court, the official committee of unsecured creditors called for the court to order a “fair and appropriate” DIP financing process, and argued that the unofficial committee of secured noteholders is “concocting a scheme” that would lead to a one-party reorganization or a “ridiculously quick credit bid sale that, […]

DOW JONES DAILY BANKRUPTCY REVIEW Exide Could Go Up for Sale If Bankruptcy Deal Isn’t Reached Peg Brickley October 14, 2014 (c) 2014 Dow Jones & Company, Inc. Ailing battery maker Exide Technologies could be up for sale before Christmas if it can’t come to terms with key creditors on a Chapter 11 bankruptcy-exit plan, new court […]

CNN MONEY Exide Technologies Receives Approval From Lenders to Extend DIP Financing Maturity Date   October 10, 2014: 07:08 AM ET  MILTON, Ga., Oct. 10, 2014 (GLOBE NEWSWIRE) — Exide Technologies (OTCQB:XIDEQ), a global leader in stored electrical-energy solutions, announced today that the Company has received all necessary approvals from its lenders, thereby extending its […]

“These allegations support that the [company’s Vernon, California-based] facility was critical to Exide’s operations, and that the environmental contamination issues at Vernon were severe,” Judge Wilson said. “In conjunction with Exide’s environmental reporting system, these allegations support a cogent inference that defendants were aware of Vernon’s environmental issues… Further, given the plaintiffs had provided statements […]

Law 360 Exide Seeks $65M In Additional Bankruptcy Financing By Matt Chiappardi Law360, Wilmington (July 07, 2014, 7:05 PM ET) — Battery maker Exide Technologies Inc. asked the Delaware bankruptcy court to approve $65 million in additional debtor-in-possession financing to bridge its way through negotiations on a Chapter 11 plan connected to a reorganization proposal the debtor […]

From Exide’s news release: “The non-binding POR proposal contemplates substantial deleveraging of the Company’s debt by more than $700 million, a sizable investment of new equity capital, and new debt to fund the Exide Chapter 11 emergence and post-emergence business — including liquidity and working capital to support the Company’s operations, seasonality and growth of […]

While Exide’s Caruso stated that the company “continues to invest in its business, and this amendment to the DIP supports our commitment to ongoing improvements in our operations and facilities,” he made no mention of what plans Exide has to address the communities that have been negatively impacted by the plant’s emissions of lead, arsenic and […]

Waiting until after today’s hearing agenda was amended and finalized, Exide submitted a motion today to the U.S. Bankruptcy Court to delay the deadline for the company presenting its bankruptcy reorganization plan to the court. A hearing on that request  is scheduled for July 2, 2014, 11 a.m. EST at U.S. Bankruptcy Court, 8224 Market […]

Both agencies (EPA and TCEQ) must approve all the work that Exide does at the Frisco site, company officials said. The city has no official role in that process. Yet Frisco says it is putting in a lot of work to ensure the cleanup is done right. That includes producing its own detailed cost estimates […]

CBS 11 NEWS Frisco Accuses Exide Of Being In Default of Agreement   February 25, 2014 7:36 PM Story by CBS NEWS 11 Reporter Jack Fink FRISCO (CBS 11 NEWS) – It’s been nearly two years since the city of Frisco and Exide Technologies agreed to shut down and demolish the battery recycling plant. But the CBS-11 […]