Exide Technologies fka EXTC

[big-yank]

What is important in the amended Plan of Reorganization is the amount of give-and-take in addressing former stakeholder objections. I have to give Exide and Skadden, Arps credit for meaningful progress made in a relatively short span of time. The retail bondholders probably do have a legit beef and likely the judge will so rule since I see no legal basis for discrimination against one class of debtholders getting zippo while other holders of the same debt get some preferred treatment and partial recovery.

If the retail bondholders get tossed a bone and remove their objection to the PoR voting process, and everyone else withdraws their previous objections, the plan will be confirmed and Exide will exit BK by the end of March as a deleveraged intact entity with newly issued equity shares and a return to private ownership.

Once the judge signs the final order, the game is over.

JMHO.