Exide, EPA Settle Differences Over Planned Asset Sales
Law360, Wilmington (August 15, 2013, 7:49 PM EDT) -- Bankrupt Exide Technologies got the green light Thursday to sell less-valuable assets without court approval after resolving objections of environmental regulators concerned that the process could let the battery maker unload contaminated properties without proper oversight.
The federal government challenged Exide's request earlier this week on behalf of the Environmental Protection Agency, saying that while the proposed sales process might be fine in most bankruptcies, it was troubling in a case in which the debtor owned upward of 60 potential contaminated properties.
At a hearing in Wilmington, Exide counsel announced that the parties had hammered out a revised plan that informs...
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