Tag Archives: JPMorgan Chase

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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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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