Exide's Ch. 11 Plan OK'd Despite Toxic Site Row With Calif.

Law360 (October 16, 2020, 10:58 PM EDT) -- A Delaware judge on Friday gave his nod to Exide Holdings Inc.'s Chapter 11 plan despite opposition from California over certain liability releases and the battery maker's potential abandonment of cleanup duties at a contaminated site in the Golden State.

During the second day of a confirmation hearing held virtually, U.S. Bankruptcy Judge Christopher S. Sontchi called Exide's Chapter 11 plan an "interesting one" unlike any he had seen before. Initially, California officials were seemingly on board with plans to broker a global deal to resolve environmental liabilities at sites in several states, but California eventually backed out and became a...

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