According to the U.S. Bankruptcy Court docket, Exide Technologies’ ad hoc group of tort claimants filed a limited objection to the Company’s motion to enter into a settlement agreement with the official committee of unsecured creditors and consenting creditors of the unofficial noteholders’ committee. Documents filed with the Court assert, “Specifically, the Tort Claimants do…

The U.S. Bankruptcy Court Exide Technologies’ official committee of unsecured creditors’ motion for an order directing the production of documents by Trafigura Beheer, Impala Terminals and Impala (Far East). As previously reported, “The Document Requests are intended to provide a more complete picture about the specific conduct of Trafigura, which has not been available thus…

According to the U.S. Bankruptcy Court docket, the Court approved, on a final basis, Revel AC’s motion to (I) obtain post-petition financing, (ii) grant senior priming liens and super-priority claims to post-petition lenders, (iii) use cash collateral and (iv) provide adequate protection to pre-petition secured parties . The motion explains, “On the date of entry of…

According to the U.S. Bankruptcy Court docket, GT Advanced Technologies (GTAT) filed a motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including June 30, 2015 and August 31, 2015, respectively. The motion explains, “GTAT believes that an expeditious restructuring and emergence…

According to the U.S. Bankruptcy Court docket, Exide Technologies filed a First Amended Chapter 11 Plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “The Plan provides for the following key economic terms and mechanics: Reorganized Exide’s debt at emergence shall comprise: (i) an estimated $225 million Exit ABL Revolver Facility; (ii)…

In Form 10-K filed on January 29, 2015, Majesco Entertainment Company’s auditor, EisnerAmper LLP, raised substantial doubt about the Company’s ability to continue as a going concern. According to EisnerAmper, the Company has suffered losses. Management believes that there may not be sufficient capital resources from operations and existing financing arrangements in order to meet…

According to the U.S. Bankruptcy Court docket, Exide Technologies filed a motion for an order, under Bankruptcy Code Sections 105 and 363 and Bankruptcy Rule 9019, authorizing and approving the Debtors’ entry into a settlement agreement with the official committee of unsecured creditors and consenting creditors of the unofficial noteholders’ committee. Under the settlement, “The…

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