American Suzuki Files Chapter 11 in Santa Ana

American Suzuki filed chapter 11 in Santa Ana yesterday, November 5, 2012.  The case has been assigned to Judge Catherine Bauer.  Case No. 8:12-bk-22808-CB.  Debra Grassgreen is counsel for the Debtor.  There are (count em) 22 first day motions not including Debra’s Employment App.  My favorite part of the first day motions in these big cases is the Declaration filed to support the motions.  The Declaration filed in this case is attched here.    Suzuki First Day Dec  It has a fantastic amount of information about the company, the problems, the plans, the people etc.  The debtor has some $220 million of assets and $346 million of debts.  It appears the big problem is the autombile division.  The debtor filed a PLAN with everything else which provides essentially that it will sell all of its assets other than the automotive division to a related entity and then wind down the automotive division.