Exide confirmation hearing fixed for April 16

New York, March 15 - Exide Technologies Inc. said the U.S. Bankruptcy Court for the District of Delaware approved its disclosure statement and scheduled a confirmation hearing for April 16.

Voting will run through April 9.

The reorganization plan calls for unsecured creditors to get a 10% stake along with warrants to buy a 20% stake, subject to dilution, in the reorganized battery maker.

Pre-petition lenders will get 90% of the equity of the reorganized company, according to the proposed plan.

Exide, based in Princeton, N.J., filed for bankruptcy with the bankruptcy court for the district of Delaware on April 15, 2002. Its Chapter 11 case number is 02-11125.

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