JS Foundry goes bankrupt with total debts of JPY 16.1 billion On July 14, JS Foundry KK. (JS Foundry, Minato Ward, Tokyo), a power semiconductor foundry, filed a petition for bankruptcy with the Tokyo District Court, and the court decided to start bankruptcy procedures for the company. The total debt is around JPY 16.1 billion. JS Foundry decided to discontinue its business because its negotiations for sponsorship with a foreign company were brok...

News  Updated at: 2025/07/16

GAC FCA officially declares bankruptcy On July 8, the administrator of GAC Fiat Chrysler Automobiles Co., Ltd. (GAC FCA) announced that it filed for a ruling to declare the company bankrupt with the Changsha Intermediate People’s Court of Hunan Province based on some creditors’ opinions and after discussion by the creditors’ committee, as the company has no possibility of reorganization. The filing was approved on June 24. Due to no bids, G...

News  Updated at: 2025/07/10

Hozon Auto starts seeking potential investors On June 12, the Jiaxing Intermediate People’s Court of Zhejiang Province ruled to accept the bankruptcy reorganization case of Hozon New Energy Automobile Co., Ltd. (Hozon Auto), the parent company of Neta Auto, and appointed three law firms as joint administrators to oversee the process. To expedite Hozon Auto’s bankruptcy reorganization process for effective revitalization of assets and maximiza...

News  Updated at: 2025/07/04

NETA Thailand under Excise Dept.’s close watch amid parent firm uncertainty Reported on June 25, 2025, Thailand’s Excise Department revealed that the situation involving Neta Thailand is under close watch, with continuous discussions being held involving the department and relevant parties. NETA's parent firm in China, Zhejiang Hozon New Energy Automobile Co., Ltd., has initiated bankruptcy proceedings, prompting concerns over potential impac...

News  Updated at: 2025/06/26

Neta’s future in Brazil uncertain due to bankruptcy in China Chinese EV brand Neta, which entered Brazil in November 2024, is facing major financial trouble after its parent company Hozon Auto officially entered bankruptcy proceedings in China. Despite promising a long-term presence in Brazil, Neta has sold only 51 vehicles in the country over seven months. Local operations showed instability earlier this year when its website and social media ...

News  Updated at: 2025/06/25

is likely to post a loss of about JPY 250 billion relating to the restructuring of Wolfspeed, Inc. (Wolfspeed), a U.S.-based silicon carbide (SiC) semiconductor manufacturer, to process a deposit it paid to the company. Wolfspeed is expected to file for proceedings under the Chapter 11 of the U.S. Bankruptcy Code in the near future. Renesas Electronics signed a long-term SiC wafer supply agreement with Wolfspeed in 2023 and accordingly provided ...

News  Updated at: 2025/06/24

n held on June 20, a consortium of companies including Strategic Value Partners, LLC (SVP), which is a U.S. investment fund that is likely to lead the business restructuring plan of Marelli Holdings Co., Ltd. (Marelli), a major automotive parts supplier that has filed for the Chapter 11 of the U.S. bankruptcy law (equivalent to Japanese Civil Rehabilitation Act), stated that it will strongly support Marelli’s financial restructuring plan. The c...

News  Updated at: 2025/06/23

LeddarTech announces intention to file for bankruptcy in Canada On June 16, LeddarTech Holdings Inc., an AI-powered software company recognized for its innovation in advanced driver assistance systems (ADAS) and autonomous driving (AD), announced that it intends on making an assignment into bankruptcy pursuant to the Bankruptcy and Insolvency Act (Canada). After undertaking a strategic review which was unsuccessful in identifying a suitable acqui...

News  Updated at: 2025/06/18

Marelli begins U.S. Chapter 11 bankruptcy process; Italian Unions demand safeguards on local industrial plan Marelli Corporation (Marelli) announced the start of the Chapter 11 proceedings in the U.S. Bankruptcy Court during a meeting with trade unions on June 12, 2025. This is part of a financial restructuring agreement backed by approximately 80% of Marelli’s creditors. The company stressed that this process is purely financial and will not a...

News  Updated at: 2025/06/16

Marelli receives U.S. Bankruptcy Court approval of First Day motions to support continued operations Marelli Corporation (Marelli) has received approvals from the U.S. Bankruptcy Court for the District of Delaware for its “First Day” motions related to its voluntary Chapter 11 filing. The Court granted interim approval for Marelli to immediately access up to USD 519 million of USD 1.1 billion debtor-in-possession (DIP) financing package. Alon...

News  Updated at: 2025/06/13

Marelli files Chapter 11 bankruptcy in U.S. to restructure financial position Marelli Corporation (Marelli) has voluntarily filed for chapter 11 cases in the United States Bankruptcy Court for the District of Delaware to comprehensively restructure its long-term debt. Approximately 80% of the company’s lenders have signed a Restructuring Support Agreement (RSA) to deleverage its balance sheet and strengthen its liquidity. The company has also s...

News  Updated at: 2025/06/12

Marelli reportedly plans Chapter 11 bankruptcy filing in U.S. Marelli Holdings Co. plans to seek Chapter 11 bankruptcy protection in the U.S. to slash its debt burden and restructure under new ownership, according to people familiar with the matter. Should the proposal go through, U.S.-based global investment firm Strategic Value Partners LLC, led by Victor Khosla, will effectively become the new owner of Marelli after it led a deal that satisfie...

News  Updated at: 2025/06/11

Mullen settles Bollinger Motors bankruptcy, consolidates engineering in Michigan On June 5, Bollinger Motors announced it has emerged from receivership as parent company Mullen Automotive settled claims in a lawsuit filed by Bollinger Motors' founder, Robert Bollinger. In connection with the settlement, Mullen Automotive increased its ownership stake in the company from 74% to 95% with payment of USD 11 million to Robert Bollinger for money he lo...

News  Updated at: 2025/06/06

Neta Auto Malaysia clarifies parent firm status, local operations unaffected On May 15, 2025, Neta Auto Malaysia addressed false rumors circulating online about the bankruptcy of its parent company, Hozon Auto. The company clarified that the issue stems from a debt dispute involving a creditor, YuXing Advertising, which filed a bankruptcy application, a standard legal procedure in such cases.  Neta Auto Malaysia confirmed that its local operatio...

News  Updated at: 2025/05/19

Li-Cycle enters bankruptcy protection in Canada, U.S. On May 14, Toronto, Canada-based Li-Cycle Holdings Corp., a lithium-ion battery recycling company, has entered creditor protection under Canada’s Companies’ Creditors Arrangement Act (CCAA) and Chapter 15 in the U.S. to facilitate a financial restructuring. Key developments include: •    Court Protection: The Ontario Superior Court granted an Initial Order, including a stay of proceedi...

News  Updated at: 2025/05/17

Hozon Auto faces bankruptcy review According to information on the National Enterprise Bankruptcy Information Disclosure Platform (NEBIDP) website dated May 13, Hozon New Energy Automobile Co., Ltd. (Hozon Auto), the parent company of Neta Auto, is facing a bankruptcy review filed by Shanghai Yuxing Advertising Co., Ltd. with the Jiaxing Intermediate People’s Court of Zhejiang Province. Established on October 16, 2014, Hozon Auto, with a regist...

News  Updated at: 2025/05/16

Neta Auto Thailand reaffirms continued operations amid parent company rumors On May 15, 2025, Neta Auto Thailand issued a statement to clarify false rumors regarding the bankruptcy of its parent company, Hozon Auto. The company explained that a creditor, Yuxing Advertising, had filed a court petition to assess Hozon Auto’s financial status due to a debt dispute. This is a routine legal process and does not mean the company is bankrupt. Hozon Au...

News  Updated at: 2025/05/15

NOVO Energy, Sweden announces 50% layoffs amid tough market conditions On May 5, NOVO Energy announced that it is implementing cost reduction measures and restructuring its organization to scale down operations. These steps follow an extensive evaluation of its business, following the bankruptcy of its technology partner, Northvolt. The actions will lead to a 50% reduction in NOVO Energy's workforce. All layoff notices are still subject to ongoin...

News  Updated at: 2025/05/06

U.S. auto groups tell Trump tariffs on car parts would bring 'layoffs and bankruptcy' On April 22, a coalition of U.S. auto industry groups urged President Trump not to impose 25% tariffs on imported auto parts on May 3, warning they would cut vehicle sales and raise prices. "Tariffs on auto parts will scramble the global automotive supply chain and set off a domino effect,” the letter said, noting "it only takes the failure of one supplier to ...

News  Updated at: 2025/04/25

TBAuctions, Netherlands announces auction of assets of Northvolt Ett Expansion, Sweden On April 14, TBAuctions, Europe’s leading online auction platform, announced that its brands are managing the sale of assets from the bankruptcy estate of Northvolt Ett Expansion. The company aims to find new owners for the unused equipment, which has an estimated purchase value of around EUR 300 million, making this one of the biggest bankruptcy auctions in ...

News  Updated at: 2025/04/15