Tag Archives: Exide bankruptcy

EXIDE BANKRUPTCY UPDATE: Unsecured creditors say Exide’s Chapter 11 plan won’t fly

exide POR

LAW 360 Exide Unsecured Creditors Say Ch. 11 Plan Won’t Fly By Matt Chiappardi Law360, Wilmington (January 02, 2015, 7:33 PM ET) — The unsecured creditors committee for bankrupt Exide Technologies Inc. blasted the battery maker’s disclosure statement Friday, arguing it describes a “patently unconfirmable” plan that was proposed in bad faith because the debtor only negotiated […]

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EXIDE BANKRUPTCY BREAKING NEWS: U.S. Trustee files Protective Objection to and Reservation of Rights regarding Exide’s attempt to submit and gain approval of incomplete Plan of Reorganization and Disclosure Statement

US Trustee

On Dec. 31, 2014, Roberta A. DeAngelis, the United States Trustee for Region 3 filed a Protective Objection to and Reservation of Rights Regarding Exide’s Motion for Entry of an Order (a) Approving the Adequacy of the Exide’s Disclosure Statement; (b) Approving Solicitation and Noticing Procedures with Respect to Confirmation of Exide’s Proposed Plan of Reorganization; (c) […]

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EXIDE VERNON – 2014 IN REVIEW: Pollution at Exide tops year’s list of stories

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LOS ANGELES WAVE 2014 IN REVIEW: Pollution at Exide tops year’s list of stories December 31, 2014 Written by:  Wave Staff Environmental activists protest outside Exide Technologies in Vernon last April, calling for state regulators to shut down the battery recycling plant if the emission problems at the plant can’t be solved. (Photo by Gary […]

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EXIDE BANKRUPTCY UPDATE – Exide bondholders contend Chapter 11 reorganization plan unfair and unworkable

exide POR

LAW 360 Exide Bondholders Contend Ch. 11 Plan Unfair, Unworkable By Jamie Santo Law360, Wilmington (December 18, 2014, 8:16 PM ET) — Two senior bondholders of Exide Technologies Inc. took issue with the battery maker’s disclosure statement Thursday, saying it supports an unconfirmable Chapter 11 plan that improperly favors certain creditors. Frank Smith and Michael Nelson, who […]

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

Dear-Shareholders

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 VERNON BREAKING NEWS: UPDATED – Bankruptcy judge approves Exide and DTSC’s deal; For now*, homes can be tested for lead, County supervisors explore legal options

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CLICK HER TO READ BANKRUPTCY COURT ORDER ALLOWING EXIDE TO ENTER INTO AGREEMENT WITH DTSC LASTREETSBLOG.COM Exide Settlement with DTSC Limits (For Now)* Homes that Can Be Tested for Lead, County Supervisors Explore Legal Options  Thursday, November 20, 2014 by Sahra Sulaiman Good news, good people of Maywood, Boyle Heights, and East L.A. who live within […]

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EXIDE BANKRUPTCY BREAKING NEWS: Loss of one of Exide’s biggest customers by volume may shake up company’s Chapter 11 reorganization plan

exide POR

THE COPY BELOW IS TAKEN DIRECTLY FROM EXIDE’S FILING WITH THE SEC On November 17, 2014, Exide Technologies (“Exide” or the “Company”) filed with the Bankruptcy Court (1) a proposed plan of reorganization (the “Proposed Plan”) and (2) a related proposed disclosure statement (the “Proposed Disclosure Statement”). Proposed Financial Projections were attached to the Proposed […]

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EXIDE BANKRUPTCY NEWS: Dow Jones Bankruptcy Review: Exide could go up for sale before Christmas if bankruptcy deal isn’t reached

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DOW JONES DAILY BANKRUPTCY REVIEW Exide Could Go Up for Sale If Bankruptcy Deal Isn’t Reached Peg Brickley October 14, 2014 (c) 2014 Dow Jones & Company, Inc. Ailing battery maker Exide Technologies could be up for sale before Christmas if it can’t come to terms with key creditors on a Chapter 11 bankruptcy-exit plan, new court […]

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EXIDE FRISCO BREAKING NEWS – Seriously, is anyone really surprised???? — Frisco accuses Exide of minimizing cleanup at closed plant

Exide Frisco landfills

Anyone who has given even passing attention to Exide’s global record regarding contamination of communities, the passing of decades in some cases before it even begins cleanup and how flawed those cleanups have been will not find this latest chapter in the Exide’s ongoing negative impact on Frisco surprising at all. For a sampling, check our […]

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EXIDE FRISCO BREAKING NEWS: Exide to hold Frisco lead smelter closure Community Open House Sept. 18

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From ad in the Dallas Morning News:   EXIDE TECHNOLOGIES FRISCO RECYCLING CENTER CLOSURE COMMUNITY OPEN HOUSE SEPTEMBER 18, 2014 Frisco Heritage Center 6499 Page St., Frisco, TX 75034 Company representatives and technical consultants will be available from 6:30-8:00PM to discuss key project components with interested members of the community www.ExideFriscoClosure.com

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BREAKING NEWS: Waiting until after today’s hearing agenda was amended and finalized, Exide files motion to delay presenting bankruptcy reorganization plan to Court and stakeholders; Wants to maintain exclusivity in preparation of reorg plan. Hearing on request scheduled for July 2. Exide wants to delay plan presentation to Court until July 31 and to delay seeking stakeholder approval until Sept. 30. OBJECTIONS TO EXIDE’S REQUEST FOR A DELAY ARE DUE TO BANKRUPTCY COURT BY MAY 30. June 13 will mark one-year anniversary of Exide’s second bankruptcy filing in 12 years

Really?

Waiting until after today’s hearing agenda was amended and finalized, Exide submitted a motion today to the U.S. Bankruptcy Court to delay the deadline for the company presenting its bankruptcy reorganization plan to the court. A hearing on that request  is scheduled for July 2, 2014, 11 a.m. EST at U.S. Bankruptcy Court, 8224 Market […]

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EXIDE FRISCO BREAKING NEWS – Frisco officials see Exide lead smelter cleanup costs mount; City requests $1.5 million from State fund — total amount Legislature set aside for TCEQ cleanup fund from statewide fee — to help cover increasing costs of closed Exide site

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Both agencies (EPA and TCEQ) must approve all the work that Exide does at the Frisco site, company officials said. The city has no official role in that process. Yet Frisco says it is putting in a lot of work to ensure the cleanup is done right. That includes producing its own detailed cost estimates […]

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EXIDE FRISCO BREAKING NEWS – Frisco accuses Exide of being in default of agreement

exide-plant

CBS 11 NEWS Frisco Accuses Exide Of Being In Default of Agreement   February 25, 2014 7:36 PM Story by CBS NEWS 11 Reporter Jack Fink FRISCO (CBS 11 NEWS) – It’s been nearly two years since the city of Frisco and Exide Technologies agreed to shut down and demolish the battery recycling plant. But the CBS-11 […]

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EXIDE FRISCO BREAKING NEWS – Frisco, Exide clash over Stewart Creek cleanup

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DALLAS MORNING NEWS Frisco, Exide clash over Stewart Creek cleanup   By VALERIE WIGGLESWORTH Staff Writer vwigglesworth@dallasnews.com Published: 26 February 2014 10:53 PM Updated: 26 February 2014 11:13 PM Plans are in the works to clean up the Stewart Creek area downstream from the Exide Technologies plant. The plans — one from Exide and one […]

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EXIDE FRISCO BREAKING NEWS: Cleanup costs elusive more than a year after Exide’s closure in Frisco

Exide Frisco

DALLAS MORNING NEWS  Cleanup costs elusive more than a year after Exide’s closure in Frisco By VALERIE WIGGLESWORTH Staff Writer vwigglesworth@dallasnews.com Published: 25 December 2013 10:52 PM Updated: 25 December 2013 11:08 PM Total costs to clean up contamination in Frisco are still up in the air more than a year after the Exide Technologies […]

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EXIDE VERNON BREAKING NEWS: California’s Department of Toxic Substances Control announces additional requirements on Exide lead smelter

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 DTSC – EXIDE FREQUENTLY ASKED QUESTIONS The deadline to file objections is 4 p.m. EST, on October 29. The hearing with the Bankruptcy Court judge is set for 3 p.m. EST, November 5.  CALIFORNIA ENVIRONMENTAL PROTECTION AGENCY DEPARTMENT OF TOXIC SUBSTANCES CONTROL NEWS RELEASE FOR IMMEDIATE RELEASE Contact: Contact: Sanford (Sandy) Nax October 7, 2013 916-708-4303 […]

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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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EXIDE BANKRUPTCY BREAKING NEWS: Court clears Exide to pay $16 million in bankruptcy bonuses

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DOW JONES Court Clears Exide to Pay $16 Million in Bankruptcy Bonuses 9-18-13 12:20 PM EDT By Yogita Patel Exide Technologies Inc. (XIDEQ) won court approval to pay more than $16 million in bonuses to employees to help ensure the battery maker is able to carry out its restructuring plan. Judge Kevin J. Carey of the U.S. Bankruptcy […]

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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

EPA Logo

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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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

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“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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