Tag Archives: debtor in possession

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 BREAKING NEWS: Court gives Exide 30-day exclusivity extension to file its Plan of Reorgnaization; Exide president expresses commitment to investment in plants and facilities — perhaps to bring them into compliance with state and federal regulations? No mention made of any Exide plans for communities negatively impacted by its violation-plagued current and former operations

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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 […]

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