Marelli Receives Court Approval of "First Day" Motions to Support Business Operations
Secures Interim Approval to Access Up to $519 Million of $1.1 Billion in Debtor-in-Possession Financing
All Normal-Course Business Operations Continuing As Usual
TOKYO, June 12, 2025 /PRNewswire/ -- Marelli Holdings Co. Ltd. ('Marelli' or the 'Company'), a global technology partner to the automotive industry, today announced that it 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,' said David Slump, President and Chief Executive Officer of Marelli. '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.'
Additional Information
Additional information about Marelli's financial restructuring is available at www.marelliforward.com.
Court filings and other information related to the proceedings, including the claims process, are available on a separate website administrated by the Company's claims agent, Verita, at www.veritaglobal.net/Marelli; by calling Verita's representatives toll-free at 877-606-7509 or +1 310-751-2626 for calls originating outside of the U.S. or Canada; or by emailing Verita at www.veritaglobal.net/Marelli/inquiry.
Advisors
Kirkland & Ellis LLP is serving as legal counsel to Marelli. PJT Partners Inc. is serving as financial advisor and Alvarez & Marsal LLC is serving as restructuring advisor to Marelli.
About Marelli
Marelli is a global mobility technology supplier to the automotive sector. With a strong and established track record in innovation and manufacturing excellence, our mission is to transform the future of mobility through working with customers and partners to create a safer, greener, and better-connected world. With around 45,000 employees worldwide, the Marelli footprint includes over 150 sites globally.
Media Contacts:
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Scott Bisang / Jude Gorman / Dylan O'Keefe
Collected Strategies
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Japan
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+81 03-5425-7220
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