Marelli Holdings has said it has secured court approval – as part of its US Chapter 11 bankruptcy proceedings – for a measure that it says secures ‘all-normal course business operations continuing as usual’.
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The company has announced that it has received approvals from the US 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. Marelli said the 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.”
