Exide Wins Final Approval Of $500M DIP Over Enviro Objections

Law360, Wilmington (July 24, 2013, 8:52 PM EDT) -- A Delaware bankruptcy judge granted final approval Wednesday to battery manufacturing giant Exide Technologies' $500 million post-petition loan over objections from environmental regulators who were worried the terms could prevent the company from responding to emergencies.

U.S. Bankruptcy Judge Kevin J. Carey ruled that the debtor-in-possession loan terms had enough flexibility to allow Exide to respond in the case of an environmental disaster, and that nothing had been presented at a hearing on the matter to suggest it would act irresponsibly.

“The record doesn't show any...
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