parts News Updates

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.

Robert Bosch GmbH doesn’t expect to see significant improvement in its key markets until next year, adding to cost pressures that already triggered a wave of job cuts.

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.

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.

Marathon Asset Management and others that provided First Brands Group with $1.1 billion are seeing the super-senior debt crater at a speed that bankruptcy experts say is unprecedented.

Major First Brands investors have offloaded stakes in the bankrupt auto supplier’s debt, causing the value of its most senior loan to collapse and prompting it to pull forward a lender call.

First Brands' bankruptcy advisers are facing a new challenge that could impact how a potential restructuring of the auto parts supplier is carried out.

Trade finance platform Raistone is looking to sell itself after the collapse of its biggest client, auto parts supplier First Brands Group.

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.