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Patrick and Edward James were each charged with nine counts, including continuing financial crimes enterprise, wire fraud, bank fraud, conspiracy to commit wire fraud and conspiracy to commit money laundering.

Distressed-debt giants Oaktree Capital Management and Anchorage Capital have amassed positions in the bankruptcy financing for First Brands Group.

STG and 64 affiliates filed for court protection with the U.S. Bankruptcy Court for the District of New Jersey. The company expects to exit court protection in around five months’ time.

The company posted better-than-expected results in its most recent quarter, swinging to an adjusted profit of 12 cents a share from a 68-cent loss a year earlier.

Bankrupt auto parts maker First Brands Group has sued Edward James — its former executive and the brother of company founder Patrick James — and its largest creditor Onset Financial.

Martin De Luca, a partner in the law firm of Boies Schiller Flexner, has been asked by the U.S. Trustee to put together a report on the allegations of mismanagement and fraud aimed at First Brands.

First Brands warned it will run out of cash without an immediate financing injection, a shortfall that could force the bankrupt auto parts maker to shut down some businesses and sell other operations.

Less-than-truckload carrier Standard Forwarding Freight suspended day-to-day operations in the final week of 2025, the company said, as key executives departed.

Jefferies Financial Group is pressing to question First Brands founder Patrick James under oath, saying the former CEO cannot avoid an upcoming deposition.

Texas International Enterprises, a cross-border trucking and logistics company, has filed for Chapter 11 bankruptcy protection amid mounting debts and a challenging freight market.