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The 12 brands in the deal include Fram, Autolite and Trico, according to court documents dated March 25. 

Ex-First Brands CFO Stephen Graham pleaded guilty over a fraud that drove the auto parts supply firm into bankruptcy, and he will testify against company founder Patrick James and his brother Edward.

Three of the four businesses that First Brands is hoping to sell produce parts for Ford, which along with other carmakers have been keeping some First Brands operations afloat by paying for parts in advance.

An ex-First Brands executive told a judge in January that he falsified financial statements, inflated invoices and double-pledged collateral for the auto parts supply firm.

The company has so little cash that it has been operating on a week-to-week basis with help from automakers willing to pay in advance to keep vital parts flowing.

Federal prosecutors allege Patrick and Edward James used fake and inflated invoices to persuade lenders to provide billions of dollars in financing to First Brands. Both pleaded not guilty.

Founder Patrick James awaits trial on fraud charges stemming from the multibillion-dollar collapse of his auto parts supply business. He also must deposit $5 million in cash.

First Brands and its main creditors will start mediation sessions to potentially resolve a series of business-crippling disputes that have left the auto parts maker weeks away from a shutdown.

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.