<SEC-DOCUMENT>0001140361-13-028104.txt : 20130715
<SEC-HEADER>0001140361-13-028104.hdr.sgml : 20130715
<ACCEPTANCE-DATETIME>20130715164818
ACCESSION NUMBER:		0001140361-13-028104
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20130709
ITEM INFORMATION:		Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
FILED AS OF DATE:		20130715
DATE AS OF CHANGE:		20130715

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MOTORCAR PARTS AMERICA INC
		CENTRAL INDEX KEY:			0000918251
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLE PARTS & ACCESSORIES [3714]
		IRS NUMBER:				112153962
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33861
		FILM NUMBER:		13968655

	BUSINESS ADDRESS:	
		STREET 1:		2929 CALIFORNIA STREET
		CITY:			TORRANCE
		STATE:			CA
		ZIP:			90503
		BUSINESS PHONE:		3109724015

	MAIL ADDRESS:	
		STREET 1:		2929 CALIFORNIA STREET
		CITY:			TORRANCE
		STATE:			CA
		ZIP:			90503

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MOTORCAR PARTS  AMERICA INC
		DATE OF NAME CHANGE:	20040112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MOTORCAR PARTS & ACCESSORIES INC
		DATE OF NAME CHANGE:	19940128
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>MOTORCAR PARTS OF AMERICA, INC 8-K 7-9-2013
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<div style="text-align: center; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-size: 14pt;">UNITED STATES</div>

<div style="text-align: center; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-size: 14pt;">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="text-align: center; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-size: 12pt;">Washington, D.C. 20549</div>

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<font style="FONT-SIZE: 18pt">FORM 8-K</font></div>

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 CURRENT REPORT</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">PURSUANT TO SECTION 13 OR 15(d) OF THE</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SECURITIES EXCHANGE ACT OF 1934</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Date of Report (Date of earliest event reported): July 9, 2013</div>

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<div style="text-align: center; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-size: 24pt;">Motorcar Parts of America, Inc.</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(Exact Name of Registrant as Specified in Its Charter)</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2929 California Street, Torrance CA</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(310) 212-7910</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>

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<div style="FONT-WEIGHT: bold">Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">On July 9, 2013, Motorcar Parts of America, Inc. (the &#8220;Company&#8221;) received notice from Wanxiang America Corporation (&#8220;WAC&#8221;), the lender and supplier to Fenwick Automotive Products Limited, a former wholly owned subsidiary of the Company (&#8220;Fenco&#8221;), under the Revolving Credit/Strategic Cooperation Agreement, dated August 22, 2012, among Fenco, the Company and WAC (the &#8220;WAC Agreement&#8221;), that the filing of the voluntary petition for relief under Chapter 7 of Title 11 of the United States Code in the U.S. Bankruptcy Court for the District of Delaware by Fenco constituted an &#8220;Event of Default&#8221; under the WAC Agreement.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Under the terms of the WAC Agreement, as a result of the Event of Default, all amounts outstanding under that certain revolving credit line extended by WAC to Fenco pursuant to the WAC Agreement for purchases of automotive parts and components by Fenco from WAC (the &#8220;Fenco Credit Line&#8221;), together with all accrued interest thereon and all other amounts payable in connection therewith, automatically became immediately due and payable subject to the terms of the subordination agreement described below. In addition, subject to certain adjustments, the interest rate applicable to all amounts remaining unpaid will increase, to the extent permitted by law, to 1.25% per month, compounding monthly, on December 10, 2013, and to 1.50% per month, compounding monthly, on June 10, 2014. As of March 31, 2013, there was approximately $19,000,000 outstanding under the Fenco Credit Line. Under the terms of the WAC Agreement, in connection with the Event of Default, Fenco is also responsible for WAC&#8217;s reasonable attorneys&#8217; fees and expenses, together with interest thereon.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Pursuant to an agreement between the Company and WAC (the &#8220;Guarantee&#8221;), the Company guarantees the obligations of Fenco under the WAC Agreement, subject to the limitations set forth therein. In addition, pursuant to a subordination agreement between WAC and the lender, Cerberus Business Finance, LLC (&#8220;Cerberus&#8221;), under the Company&#8217;s credit line (the &#8220;Company Credit Line&#8221;), WAC may not take any enforcement action against the Company until the earlier of July 31, 2018 or the date on which all obligations under the Company Credit Line are satisfied, and any payments made by the Company pursuant to the Guarantee are subject to such subordination agreement for the benefit of Cerberus under the Company Credit Line.</div>

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<div style="text-align: center; font-weight: bold;">SIGNATURE</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 24.5pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Motorcar Parts of America, Inc.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Date: July 15, 2013</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">/s/ David Lee</div>
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