Tag Archives: environmental contamination

EXIDE VERNON BREAKING NEWS: Insurance company asks federal judge to declare it does not have to pay out full limits of its policy to cover deal Exide executives made as part of reorganization plan with plaintiffs suing company over contamination at its Vernon lead smelter; Allied World National Assurance claims contract required Exide’s executives to present any proposed settlements to insurer for review and approval first before entering into any agreements

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“Neither Exide nor any insured person sought or obtained Allied World’s written consent to enter into the Vernon tort claims term sheet,” Allied World said. “The insured persons, therefore, offered to settle and/or entered into a settlement agreement without Allied World’s prior written consent.” The Vernon tort claim term sheet sets out conditions for a […]

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EXIDE VERNON: Not just in Flint, environmental contamination in Los Angeles neighborhoods because of poor regulatory oversight at all levels of admitted corporate criminal behavior by Exide in operations of Vernon lead smelter

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89.3 KPCC Southern California Public Radio Environmental contamination in LA by Deepa Fernandes | Take Two March 04 2016 Exide begins to remove lead-polluted soil on Monday morning at a house on the 1200 block of La Puerta Street in Boyle Heights.MAYA SUGARMAN/KPCC Listen to this story 8 MIN 13 SEC by clicking here Here in Southern California, we’ve […]

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EXIDE BANKRUPTCY BREAKING NEWS: For second time in 13 years, Bankruptcy Judge Carey approves another Exide reorganization plan. Will JPMorgan Chase and the other banks that now own it and serial polluter Exide — that admitted decades of criminal conduct in an agreement with the U.S. Justice Department — continue the company’s long record of operations that pollute and contaminate and leave behind inadequate cleanups? Will Exide really appropriately clean up its highly contaminated, closed lead smelter properties and impacted neighborhoods in Frisco and Vernon? Will elected officials and regulatory agencies from the local to the federal level ensure Exide obeys laws and regulations, or look the other way like they did for decades? What about the communities of Muncie, IN and Forest City, MO, where Exide still has lead smelters in the U.S.? How will Exide’s reduced profile and poor community health/welfare/environmental record in the U.S. impact the foreign communities where it has operations?

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WALL STREET JOURNAL Exide Wins Bankruptcy-Court Approval for Restructuring Plan Cuts $600 million from company’s $1 billion debt and puts it under ownership of senior lenders By SARA RANDAZZO March 27, 2015 5:26 p.m. ET Battery maker Exide Technologies Inc. won bankruptcy-court approval on Friday to implement a restructuring that cuts $600 million from its $1 billion in debt […]

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