January 28, 2026
Struggling auto parts maker First Brands Group urged a Texas bankruptcy judge Wednesday to let it borrow $48 million advanced by Ford, General Motors, Harley-Davidson and other customers, saying it needs the funds to stay afloat after running out of debtor-in-possession financing.
January 22, 2026
Counsel for car parts maker First Brands told a Texas bankruptcy judge Thursday it agreed to lift the automatic stay of its Chapter 11 case to allow certain lenders to access around $250 million of inventory collateral, under an agreement that also resolved a motion to dismiss the bankruptcies of debtor-affiliated special purpose vehicles.
January 13, 2026
A Texas bankruptcy judge said Tuesday he will hold a hearing in early February to determine if auto parts maker First Brands can tap into millions of dollars in cash entangled in its pre-Chapter 11 financing arrangements.
January 09, 2026
First Brands sued former board member Edward James and Utah-based company Onset Financial Inc. in Texas bankruptcy court Friday, alleging he operated as Onset's "secret partner" to rig contracts between First Brands and Onset that let them reap triple-digit returns and $2.9 billion in cash.
January 07, 2026
A Texas bankruptcy judge Wednesday allowed former First Brands executives to access about half of the company's directors and officers insurance to help pay for their legal fees as they face misconduct claims, ruling that the remainder of the proceeds are property of the car parts maker's bankruptcy estate.
January 02, 2026
Creditors of auto parts maker First Brands Group have asked a Texas bankruptcy judge to stop the company's former CEO and other executives from retreating into a "fortress" of corporate insurance in the face of misconduct claims over missing funds totaling hundreds of millions of dollars.
December 22, 2025
A Texas bankruptcy judge said Monday that auto-parts maker First Brands Group can access about $60 million in cash held by customers or stuck in segregated accounts, while setting up a January hearing to handle the debtor's proposed process to reconcile $3 billion in third-party factoring agreements with pending invoices.
December 19, 2025
A Boies Schiller Flexner LLP partner with experience in matters spanning from asset recovery to international investigations and high-wire global matters has been tapped to probe the bankruptcy of auto parts maker First Brands Group as a Chapter 11 examiner.
December 19, 2025
A magnesium producer will ask for final approval of a debtor-in-possession loan funded by its parent company, a heavy machine retailer is asking for approval of its Chapter 11 liquidation plan after selling its business as a going concern, and auto parts giant First Brands has asked a judge to approve procedures it says will assuage concerns about its restructuring process.
December 17, 2025
Patrick James, the founder and former CEO of First Brands Group, urged a Texas bankruptcy judge to toss an adversary suit the auto-parts maker filed targeting him, saying the complaint failed to adequately accuse him of fraudulent activity.