Lear Corp., which makes seating and electrical equipment for vehicles, filed for Chapter 11 bankruptcy protection on Tuesday along with its many U.S. and Canadian subsidiaries after winning the necessary support from its lenders.

List of lenders and bondholders who have already supported the move includes Carlyle High Yield Partners, Deutsche Bank AG, Merrill Lynch and Icahn Partners LP. The company is further trying to win the support of remaining lenders.

On Monday, Lear Corp gave details of the restructuring, saying it would convert $3.6 billion in debt into new debt, convertible stock and equity warrants.

Earlier, at the end of 2008, Lear had breached its leverage covenants after borrowing all of the $1.2 billion in its main credit facility.

Lear, U.S. auto parts and car seat maker, made its filing in the U.S. bankruptcy court for the Southern District of New York.

In the filing, Lear listed total assets of about $1.27 billion and total liabilities of around $4.54 billion.

Earlier, General Motors Corp., Chrysler and Ford Motor Co. slashed their purchases from Lear, bringing hard time for the company.