Exide second amended plan accepted by majority of voting creditors

By Caroline Salls

Pittsburgh, March 25 – Exide Technologies, Inc.’s second amended plan of reorganization was accepted by a majority of voting creditors, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The plan voting results by class included the following:

• 497 holders, or 71.31% in number, of $559.74 million, or 89.23% in amount, of class A claims voted to accept the plan, while 200 holders, or 28.69% in number, of $67.56 million, or 10.77% in amount, of those claims voted to reject it;

• 15 holders, or 78.95% in number, of $24.41 million, or 99.58% in amount, of class B claims voted to accept the plan, while four holders, or 21.05% in number, of $103,403, or 0.42% in amount, of those claims voted to reject it;

• 472 holders, or 93.84% in number, of $239.93 million, or 99.28% in amount, of class D claims voted to accept the plan, while 31 holders, or 6.16% in number, of $1.74 million, or 0.72% in amount, of those claims voted to reject it;

• 12 holders, or 80% in number, of $28.73 million, or 84.1% in amount, of class E claims voted to accept the plan, while three holders, or 20% in number, of $5.43 million, or 15.9% in amount, of those claims voted to reject it; and

• 593 holders, or 97.69% in number, of $3,223,165,656, or substantially 100% in amount, of class F claims voted to accept the plan, while 14 holders, or 2.31% in number, of $58,012, or substantially 0% in amount, of those claims voted to reject it.

The plan confirmation hearing is scheduled for Friday.

Exide Technologies, a Milton, Ga.-based maker and recycler of lead-acid batteries, filed for bankruptcy on June 10, 2013. Its Chapter 11 case number is 13-11482.

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