A top-notch restructuring group, capable of handling the biggest and the most difficult restructuring from either company side or creditors’ side. 
- Chambers USA, Band 1 Bankruptcy/Restructuring (Nationwide and NY)
Exide Completes Prearranged Bankruptcy
- Client News
- October 30, 2020
Paul, Weiss represented an ad hoc group of stakeholders in the successful prearranged chapter 11 cases of Exide Technologies, LLC, a Georgia-based global manufacturer of automotive and industrial batteries with operations in more than 80 countries. In accordance with the terms of a restructuring support agreement, the ad hoc group funded the “last out” portion of the debtors’ DIP financing facility; supported the marketing and sale of the debtors’ U.S. assets to ATLAS; served as the stalking horse bidder for, and closed, a $430 million credit-bid purchase of the debtors’ EMEA business; issued new financing to the EMEA business in the amount of $40 million; participated in a global mediation process with more than a dozen environmental regulators and other key stakeholders; and facilitated the funding of a resulting settlement through the acquired EMEA business.
The Paul, Weiss team included, among others, restructuring partners Alice Eaton and Bob Britton and counsel Claudia Tobler; corporate counsel Bruce Gruder and David Harris; litigation partners William Clareman, Andrew Finch and Jacqueline Rubin; employee benefits counsel Lisa Krauz Eisenberg; intellectual property partner Claudine Meredith-Goujon; tax partner David Mayo; real estate partner Peter Fisch; environmental counsel William O’Brien; and antitrust counsel Yuni Sobel.