June 16, 2025
Willkie represents Deutsche Bank AG, London Branch, as the sole lender under Marelli North America, Inc.’s $865 million first-out new money super-senior secured DIP facility (the “Super-Senior DIP Facility”). The Super-Senior DIP Facility represents the senior tranche of an aggregate $1.25 billion DIP financing, with the junior secured tranches being provided by certain prepetition secured lenders in the form of a $242 million second-out new money senior secured facility and a corresponding roll-up of certain prepetition secured loans, subject to final bankruptcy court approval.
On June 11, 2025, Marelli, a global technology partner to the automotive industry, and its global affiliates commenced voluntary chapter 11 cases in the United States Bankruptcy Court for the District of Delaware in order to comprehensively restructure its long-term debt obligations. In addition to advising Deutsche Bank on structuring the Super-Senior DIP Facility, Willkie played a significant role in negotiating the terms around Marelli’s Restructuring Support Agreement, which was supported by approximately 80% of Marelli’s lenders. On June 12, the Court granted Marelli interim approval to immediately access $519 million of the Super-Senior DIP Facility from Deutsche Bank.
The Willkie team is led by Restructuring partners Joseph G. Minias and Jennifer Hardy and Finance partners Daniel Durschlag and Weston T. Eguchi, and includes counsel Jessica Tjang, associates Christine Thain, Sean Daly, Kristopher Phipps, Alex Bisogno and Zachary Charlton, and law clerk Anthony Simon. The team also includes partners Michael Katz, David Mortlock, Britt Mosman, Matthew Makover and Isaac Silverstein, counsel William Thomas, and associates Joshua Baskin and Ahmad El-Gamal.
On June 11, 2025, Marelli, a global technology partner to the automotive industry, and its global affiliates commenced voluntary chapter 11 cases in the United States Bankruptcy Court for the District of Delaware in order to comprehensively restructure its long-term debt obligations. In addition to advising Deutsche Bank on structuring the Super-Senior DIP Facility, Willkie played a significant role in negotiating the terms around Marelli’s Restructuring Support Agreement, which was supported by approximately 80% of Marelli’s lenders. On June 12, the Court granted Marelli interim approval to immediately access $519 million of the Super-Senior DIP Facility from Deutsche Bank.
The Willkie team is led by Restructuring partners Joseph G. Minias and Jennifer Hardy and Finance partners Daniel Durschlag and Weston T. Eguchi, and includes counsel Jessica Tjang, associates Christine Thain, Sean Daly, Kristopher Phipps, Alex Bisogno and Zachary Charlton, and law clerk Anthony Simon. The team also includes partners Michael Katz, David Mortlock, Britt Mosman, Matthew Makover and Isaac Silverstein, counsel William Thomas, and associates Joshua Baskin and Ahmad El-Gamal.
