Exide Committee: DIP Loan Is 'Extremely Prejudicial' To Unsecured Creditors

WILMINGTON, Del. - The Official Committee of Unsecured Creditors in the Chapter 11 bankruptcy of Exide Technologies on July 16 filed a brief objecting to the company's request for bankruptcy court approval of $500 million in post-petition financing, also known as debtor-in-possession (DIP) financing, on grounds that the case control milestones encompassed in the loan are "extremely prejudicial" (In Re: Exide Technologies, No. 13-11482, Chapter 11, D. Del. Bkcy.).

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