Exide Technologies is a mature Chapter 11 case whose available case posture is a reorganization track anchored by the debtor’s Second Amended Plan of ReorganizationDkt. 3096, rather than a sale-led exit or liquidation path. The case began on June 10, 2013, when Exide filed its Chapter 11 Voluntary PetitionDkt. 1 in Delaware after a combination of operating and liquidity pressures narrowed its room to manage the business outside court.
The filing declaration describes a global lead-acid battery manufacturer and recycler with substantial North American operations, approximately $886.9 million of funded debt, and additional general unsecured obligations. The principal capital structure included a $160 million ABL facility, $675 million of 8.625% senior secured notes, and $51.9 million of convertible senior subordinated notes. The business pressures identified at filing included margin compression from lead and production costs, the loss of Walmart as a major customer, weakness in Europe, and the April 2013 shutdown of the Vernon, California recycling facility, which reduced projected EBITDA and required more expensive lead sourcing alternatives, as laid out in the Damaska First Day DeclarationDkt. 3.
The restructuring path that followed was operational reorganization supported by first-day relief and postpetition liquidity, including a reported $500 million DIP financing package and authority sought for critical-vendor and foreign-vendor payments to preserve supply-chain continuity, according to the . By February 2015, the debtor had advanced to a plan process through a nine-class reorganization plan, with the serving as the latest plan document in the provided record. No confirmation order, effective date, or upcoming hearing milestone is included in the provided context, so the sourced posture is that Exide had moved from first-day stabilization into a proposed balance-sheet and operational reorganization framework.
