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BREAKING NEWS: U.S. Department of Justice/EPA, joined by 10 states, oppose final approval of Exide’s $500M DIP loan because of inflexibility of credit facility’s budget that could leave taxpayers to clean up contamination from environmental, other disaster; follows TCEQ’s challenge to loan giving priority to lenders over environmental obligations


“The debtor may contend that its hands are tied from acting even in the event of a catastrophic event or emergency because it has no authority to spend cash collateral under an approved budget and there was not sufficient time to obtain such approval from the lenders,” the motion filed in the U.S. Bankruptcy Court […]

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FRISCO UPDATE: Frisco to receive $1.5 million from Texas battery fund to apply to cleanup of contaminated land surrounding Exide lead smelter


DALLAS MORNING NEWS Frisco to tap state fund for its share of Exide cleanup Vernon Bryant/Staff Photographer Crews dismantle a smokestack in May at Exide Technologies’ Frisco plant. By VALERIE WIGGLESWORTH Staff Writer Published: 08 July 2013 10:33 PM Updated: 09 July 2013 07:22 AM After 20 years of trying, the city of Frisco will receive […]

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BREAKING NEWS: City of Frisco joins TCEQ in filing motion to request U.S. bankruptcy judge to ensure that funds are available for cleanup of Exide’s Frisco lead smelter site


DALLAS MORNING NEWS Frisco, state attempt to secure financing for cleanup at Exide site during bankruptcy By Valerie Wigglesworth 1:05 pm on July 6, 2013 The city of Frisco filed a motion in federal bankruptcy court this week that joins the state in its efforts to secure funding for environmental cleanup at the closed Exide […]

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BREAKING NEWS: TCEQ files objection to Exide request to keep spending proceeds from debtor-in-possession loan; wants judge to ensure funds secured for environmental cleanup obligations Exide owes Texas


FROM LAW360 (subscription required) Exide Bankruptcy Loan Shirks Enviro Liability, Texas Says By Jeremy Heallen Law360, Houston (July 03, 2013, 8:08 PM ET) — Texas regulators urged a Delaware bankruptcy judge to prevent troubled battery maker Exide Technologies Inc. from continuing to spend proceeds from a $500 million postpetition loan until funds are secured for environmental cleanup […]

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BREAKING NEWS/MEDIA ROUND-UP: Exide files for Chapter 11 bankruptcy protection; gets tentative approval for $500 million debtor-in-possession loan


CLICK HERE FOR LINK TO EXIDE’S CHAPTER 11 PETITION/AFFIDAVIT CLICK HERE FOR EXIDE NEWS RELEASE BLOOMBERG Exide Wins Initial Loan Approval to Operate in Bankruptcy By Steven Church – Jun 11, 2013 11:02 AM CT Exide Technologies (XIDE), the 125-year-old battery maker, won initial court approval to borrow as much as $500 million to replace […]

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