Exide creditors seek probe of possible scheme

Jan 29, 2014 | 06:08 PM | Nathan Laliberte

Tags  Exide Technologies, lead, London Metal Exchange, LME, lead, batteries, bankruptcy, Anthony Clark Nathan Laliberte

NEW YORK — Creditors of bankrupt battery maker Exide Technologies Ltd. are seeking to hire a consulting firm to help assess whether the company may have fallen victim to alleged price manipulation by the London Metal Exchange and large metal warehousing companies.

The Milton, Ga.-based company filed for Chapter 11 bankruptcy protection in June (amm.com, June 10), listing assets of about $1.89 billion and liabilities of around $1.14 billion. The company cited several factors that contributed to its declining earnings, including rising production costs, compressed margins, intense domestic competition, exposure to the struggling European market....

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