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This excerpt taken from the XIDE 10-K filed Jun 11, 2007. Pre-Petition
Litigation Settlements
The Company previously disclosed in its most recent Report on
Form 10-K
for fiscal 2006 tentative settlements with various plaintiffs
who alleged personal injury
and/or
property damage from the release of hazardous materials used in
the battery manufacturing process prior to the Company’s
filing for Chapter 11 bankruptcy protection. The Company
has finalized a settlement of these claims, as well as claims
they could have asserted against third parties who may have had
claims of indemnification against the Company on a pre-petition
or post-petition basis. The claims will be paid in new common
stock and Warrants to be paid out of the reserve established
under the claims reconciliation process. The terms of the
settlement are still subject to approval of appropriate state
courts.
This excerpt taken from the XIDE 10-K filed Jun 29, 2005. Pre-Petition Litigation Settlements
The Company previously disclosed in its most recent Report on Form 10-K for fiscal year 2004 tentative settlements with various plaintiffs who alleged personal injury and/or property damage from the release of hazardous materials used in the battery manufacturing process prior to the Company’s filing for Chapter 11 bankruptcy protection. The Company has finalized a settlement of these claims, as well as claims they could have asserted against third parties who may have had claims of indemnification against the Company on a pre-petition or post-petition basis. The claims will be paid in new common stock and Warrants to be paid out of the reserve established under the claims reconciliation process. The terms of the settlement are still subject to approval of appropriate state courts.
This excerpt taken from the XIDE 10-Q filed Feb 14, 2005. Pre-Petition Litigation Settlements
The Company previously disclosed in its most recent Report on Form 10-K for fiscal year 2004 tentative settlements with various plaintiffs who alleged personal injury and/or property damage from the release of hazardous materials used in the battery manufacturing process prior to the Company’s filing for Chapter 11 bankruptcy protection. The Company has finalized a settlement of these claims, as well as claims they could have asserted against third parties who may have had claims of indemnification against the Company on a pre-petition or post-petition basis. The claims will be paid in new common stock and Warrants to be paid out of the reserve established under the claims reconciliation process. The terms of the settlement are still subject to approval of appropriate state courts.
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