Tag Archives: bankruptcy court

EXIDE BANKRUPTCY UPDATE – Exide shareholders lose bid for bigger role in bankruptcy

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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 […]

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EXIDE BANKRUPTCY BREAKING NEWS – Exide enters into Plan Support Agreement and also starts sales process for its businesses

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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 […]

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EXIDE BANKRUPTCY UPDATE: Exide gets approval from lenders for extension of its debtor-in-possession credit facility’s maturity date to March 31, 2015

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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 […]

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BREAKING NEWS: After EPA-driven revisions that would require regulators to be informed and clarification made that potential purchasers are responsible for remediation, judge allows Exide to sell or abandon contaminated properties without approval

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The federal government challenged Exide’s request earlier this week on behalf of the Environmental Protection Agency, saying that while the proposed sales process might be fine in most bankruptcies, it was troubling in a case in which the debtor owned upward of 60 potential contaminated properties. At a hearing in Wilmington, Exide counsel announced that […]

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