Tag Archives: bankruptcy

EXIDE BANKRUPTCY BREAKING NEWS: Bankrupt Exide gets nod to extend $560 million DIP loan; Exide gives up exclusive ability to file a Chapter 11 plan

Exide

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. […]

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EXIDE BANKRUPTCY BREAKING NEWS: Exide unsecured creditors blast extension for $560 million Debtor-in-Possession financing package

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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, […]

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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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EXIDE BANKRUPTCY BREAKING NEWS: Exide asks bankruptcy court to approve $65 million in additional debtor-in-possesion financing to bridge way through negotiations on Plan of Reorganization submitted by unofficial committee of secured creditors

exide POR

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 […]

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EXIDE BANKRUPTCY BREAKING NEWS: Exide informs bankruptcy court about Plan of Reorganization submitted by unofficial committee of senior secured note holders; deadline for Exide submitting its own Plan of Reorganization extended once again – to July 31.

exide POR

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 […]

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EXIDE BANKRUPTCY UPDATE: Exide wants court to extend its period of exclusivity to May 31, 2014, for submitting reorganization business plan

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On September 26, Exide filed a motion with the U.S bankruptcy court to extend its period of exclusivity for submitting a Chapter 11 reorganization business plan from March 10, 2014, to May 31, 2014. There will be a hearing on the motion on Oct. 16, at 1 p.m. EST. Shortly after Exide filed for Chapter […]

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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

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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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BREAKING NEWS: Wall Street Journal Report – Exide preparing for potential bankruptcy-protection filing by summer

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THE WALL STREET JOURNAL Exide Technologies Prepares for Bankruptcy Filing June 6, 2013, 4:26 p.m. ET By EMILY GLAZER Exide Technologies Inc.,( XIDE -16.38%) the car- and machine-battery maker, is preparing for a potential bankruptcy-protection filing by this summer, said people familiar with the matter. The Milton, Ga., company, which faces a September debt payment, […]

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