Marelli Holdings, a global technology partner to the automotive industry, has received approvals from the U.S. Bankruptcy Court for the District of Delaware for its “first day” motions related to the company’s voluntary Chapter 11 petitions.
The court granted interim approval to immediately access up to $519 million of $1.1 billion in debtor-in-possession financing from its lenders. This additional capital, coupled with cash generated from the company’s ongoing operations, will provide sufficient liquidity to support the company through the Chapter 11 process. Among other things, the court has authorized the company to continue to pay employee wages and benefits without interruption, continue programs that are integral to customer relationships and pay suppliers in full for goods and services provided on or after the filing date of June 11, 2025.
“We are pleased to have received court approval of these important first day motions, which will enable Marelli to continue serving our customers without interruption throughout the chapter 11 process,” David Slump, president and CEO of Marelli, said. “Thanks to the partnership with our lenders, we are poised to emerge from this process not just stronger, but strategically equipped for sustainable growth and innovative advancements. We extend our heartfelt gratitude to our customers and suppliers for their loyalty and commitment.”
Kirkland & Ellis is serving as legal counsel to Marelli. PJT Partners is serving as financial advisor and Alvarez & Marsal is serving as restructuring advisor to Marelli.
