Lead Free Frisco

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 […]

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 […]

  Exide received final Bankruptcy Court approval today of its $500 million debtor-in-possession (DIP) financing provided by JPM Chase and a group of lenders to whom the DIP financing was syndicated. This final approval came in spite of objections filed by entities ranging from the City of Frisco, the TCEQ, environmental agencies from California, Florida, […]

“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 […]

FROM LAW360 (subscription required) Exide Bankruptcy Loan Shirks Enviro Liability, Texas Says By Jeremy Heallen Law360, Houston (July 03, 2013, 8:08 PM ET) — Texas regulators urged a Delaware bankruptcy judge to prevent troubled battery maker Exide Technologies Inc. from continuing to spend proceeds from a $500 million postpetition loan until funds are secured for environmental cleanup […]