Trade finance platform Raistone is looking to sell itself after the collapse of its biggest client, auto parts supplier First Brands Group.
November 18, 2025First Brands News Updates
First Brands Creditors Demand Separation of Advisers
Creditors demanded First Brands appoint separate advisers for units that issued $2.5 billion in off-balance-sheet debt, arguing conflicts of interest threaten the insolvency case.
November 13, 2025First Brands Founder Wins Control of Personal Bank Accounts
Patrick James' personal bank accounts were frozen last week as part of a lawsuit accusing him of siphoning large sums from the bankrupt auto parts supplier.
November 12, 2025First Brands Wins Access to Last $600M of Emergency Funds
First Brands Group won access to $600 million of remaining bankruptcy financing, which company lawyers said was needed to prevent the company from聽immediately聽shutting down.
November 7, 2025First Brands Sues Founder Over $700M in 'Pilfered' Funds
Lawyers for the company 鈥 now run by restructuring consultants 鈥 alleged that Patrick James borrowed funds on fraudulent terms, only then to 鈥渞outinely and regularly鈥 divert cash for himself.
November 4, 2025First Brands Lenders Allege 鈥榃idespread Fraud鈥 in Filing
The lender group is seeking to have certain special purpose vehicles dismissed from First Brands鈥 bankruptcy case and have also joined calls for the appointment of an independent examiner.
October 31, 2025US Seeks Independent Bankruptcy Probe of First Brands Crash
First Brands has admitted it can鈥檛 find $2.3 billion related to off-balance sheet financing deals.聽Lawyers for the U.S. Trustee聽 asked a judge to move up a hearing on the request to Oct. 29.
October 16, 2025RealTruck 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鈥檚 finances is left to Charles Moore, a restructuring expert hired last month during rushed negotiations between the company and its top creditors.
October 14, 2025First Brands鈥 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 鈥渟imply vanished鈥 from the company.
October 10, 2025Trending
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