Filing Alert: Marelli Chapter 11
Marelli Files Chapter 11 in District of Delaware
Marelli Automotive Lighting USA LLC and its debtor affiliates⁽¹⁾, a Tier 1 supplier of advanced automotive lighting, electronics, and interior systems to global automakers, filed for Chapter 11 protection on Jun. 11 in the U.S. Bankruptcy Court for the District of Delaware.
The filing follows months of negotiations and seeks to implement a prearranged restructuring under a Restructuring Support Agreement (RSA) entered into with an ad hoc group of senior lenders (the “Ad Hoc Group”) and sponsor KKR-managed funds. The RSA provides for up to $1.1 billion in new-money, priming DIP financing from the Ad Hoc Group, alongside a 47.5% rollup of their senior loan claims upon entry of the final DIP order. Proceeds will also repay in full the $350 million Emergency Loan Facility. Under the plan, Japanese Lenders—who hold approximately 50% of the Senior Loan Facility—will receive an 11% cash recovery on their claims. A portion of the DIP is expected to convert into 100% of the reorganized equity, while general unsecured claims are unimpaired. The RSA includes a 45-day "go-shop" period for superior proposals for 100% of the new common stock.
The company reports $1 billion to $10 billion in both assets and liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-11034.
⁽¹⁾ For a complete list of debtor entities, see the Chapter 11 Debtors table.
Chapter 11 Debtors
Top Unsecured Claims
Key Parties
Co-Bankruptcy Counsel:
- Laura Davis Jones
- Pachulski Stang Ziehl & Jones LLP
- Email: ljones@pszjlaw.com
General Bankruptcy Counsel:
- Kirkland & Ellis LLP
Financial Advisor:
- Alvarez & Marsal North America, LLC
Investment Banker:
- PJT Partners Inc.
Signatories:
- Marisa Iasenza – Authorized Signatory
Claims Agent:
Equity Security Holders:
- Marelli North America, Inc. – 100% Equity Interest
Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.
Stay informed on every Chapter 11 bankruptcy case with liabilities exceeding $10 million. Subscribe for free to have our coverage delivered directly to your inbox, and explore our full archive of past summaries.
Subscribers can also opt in to timely filing alerts by updating their email preferences in Account Settings.
