First Brands has admitted it can’t find $2.3 billion related to off-balance sheet financing deals. Lawyers for the U.S. Trustee asked a judge to move up a hearing on the request to Oct. 29.
October 16, 2025Bankruptcy News Updates
RealTruck Seeks to Assure Lenders After First Brands Debt Hit
RealTruck Group told lenders it uses fundamentally different financing tools from those tapped by First Brands Group, another parts maker that collapsed into bankruptcy last month.
October 16, 2025First Brands CEO Patrick James Resigns After Bankruptcy
The work of untangling the company’s finances is left to Charles Moore, a restructuring expert hired last month during rushed negotiations between the company and its top creditors.
October 14, 2025Freight Recession Claims Another in Montgomery Transport
The Birmingham, Ala.-based firm ceased operations after a deal to sell the company to an affiliate of fellow Birmingham-based carrier PS Logistics collapsed.
October 10, 2025First Brands’ Official Creditor Committee Includes Top Foe
Raistone has demanded a court-appointed examiner investigate First Brands, claiming in court papers that as much as $2.3 billion “simply vanished†from the company.
October 10, 2025First Brands Exposure of $1.75 Billion Hits Japanese Venture
A joint venture between Norinchukin Bank and Japanese trading house Mitsui & Co. faces $1.75 billion of exposure to bankrupt auto parts supplier First Brands Group, court documents show.
October 9, 2025First Brands Creditor Seeks Investigation of ‘Vanished’ Cash
First Brands' bankruptcy filing set off a round of damage limitation by Wall Street firms now attempting to size up their exposure to the company.
October 9, 2025Investment Group Holds $161M Stake in Bankrupt First Brands
A fund controlled by a unit of Jefferies Financial Group sunk nearly a quarter of its $3 billion trade finance portfolio into receivables tied to auto parts supplier First Brands Group.
October 8, 2025First Brands Probes Billions of Off-Balance Sheet Financing
The financing fueled investor concerns before the auto parts supplier fell into bankruptcy.
September 30, 2025Auto Parts Maker First Brands Files for Bankruptcy
The filing caps weeks of turmoil sparked by creditor concern over the auto supplier’s use of opaque off-balance sheet financing.
September 29, 2025Trending
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