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mike_usa

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mike_usa

Re: mike_usa post# 6060

Saturday, 03/28/2015 1:57:02 PM

Saturday, March 28, 2015 1:57:02 PM

Post# of 6681
By Jamie Santo

Law360, Wilmington (March 27, 2015, 9:43 PM ET) -- A Delaware bankruptcy judge blessed Exide Technologies Inc.'s reorganization plan on Friday, clearing the way for the battery maker to emerge from a lengthy stint in Chapter 11 with its debt load lightened by $600 million.

U.S. Bankruptcy Judge Kevin J. Carey signed off on Exide's plan at hearing in Wilmington, overruling objections from two senior noteholders who claimed it offered an inferior return than other options and improperly favored other investors.

Judge Carey cited numerous reasons in favor of confirmation, including widespread creditor support for the...


http://www.law360.com/bankruptcy/articles/636452/exide-wins-nod-for-ch-11-plan-to-slash-debt-by-600m
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