Tag Archives: U.S. Bankruptcy Judge Kevin Carey

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 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 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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