Edscha North America, Inc. d/b/a Edscha USA (“Edscha North America” or the “Debtor”) filed for bankruptcy on October 19, 2009 leaving Ford, General Motors, Nissan and Mercedes on its top 20 unsecured creditor list for accommodation payments made to keep the Debtor going. The OEM unsecured creditors’ and other unsecured creditors’ chances for any recovery of pre-petition claims appear to be slim.
The bankruptcy was filed in the Bankruptcy Court for the Bankruptcy Court for the Northern District of Illinois (case number is 09-39055) for relief under Chapter 11 of the US Bankruptcy Code.