The U.S. Bankruptcy Court approved Exide Technologies’ motion to implement its key employee incentive plan. As previously reported, “At this incipient stage of the restructuring process, it is critical to ensure that those employees who drive the economic success of the Debtor’s enterprise are appropriately compensated and incentivized to deliver superlative results. In this regard,…

Robertson Maritime Investors filed with the U.S. Bankruptcy Court an objection to Excel Maritime Carriers’ Disclosure Statement. The objection explains, “Robertson initially objected to Excel’s disclosure statement circulated prebankruptcy, noting a host of undisclosed risks to unsecured creditors. Some of those infirmities remain in the Disclosure Statement filed July 16. The Debtors’ circumstances have also…

FriendFinder Networks (fka Penthouse Media Group) and 38 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 13-12404 (PMGI Holdings). The Company, which runs Internet-based social networking Websites worldwide, is represented Dennis A. Meloro of Greenberg Traurig. According to documents filed with the Court,…

K-V Pharmaceutical announced that its Sixth Amended Joint Plan of Reorganization has become effective, and the Company has emerged from Chapter 11 protection with significantly reduced debt and a $375 million recapitalization. Pursuant to the Plan, investors led by Capital Ventures International, Greywolf Capital, Kingdon Capital and Deutsche Bank (together with Silver Point Finance) and/or…

ECOtality and its five U.S. subsidiaries filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Arizona, lead case number 13- 16126 (Electric Transportation Engineering). The Company, which designs, manufactures, tests and commercializes advanced electric vehicle charging and energy storage system technologies, is represented by Jared G. Parker of Parker Schwartz….

Rural/Metro filed with the U.S. Bankruptcy Court a Joint Chapter 11 Plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “Generally, the Plan provides for a consensual balance sheet restructuring that will reduce the Debtors’ funded indebtedness by approximately 50% and cut interest payments nearly in half. Specifically, the restructuring transactions contemplated…

The U.S. Bankruptcy Court approved Exide Technologies’ motion to provide severance benefits to hourly employees at the Debtor’s Bristol, Tennessee facility. As previously reported, “In the ordinary course of business, the Debtor has, in its discretion, provided severance benefits to certain hourly employees. In particular, prior to the Petition Date, the Debtor generally provided severance…

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