From Detroit Free Press
PRINCETON, NJ — Exide Technologies said it reached an agreement with its creditors and lenders on a plan to exit Chapter 11 protection, one that gives unsecured creditors 10 percent of the reorganized company.
The maker of automotive and industrial batteries last December lost a bid for court approval of a plan of reorganization that would have left almost all of Exide in the hands of holders of secured debt.
_______________________________________
Click here to view the rest of today’s headlines.
