First Brands Wins Access to Last $600 Million 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 immediately shutting down.

23andMe Approved to Expunge 157,000 Suspicious Bankruptcy Claims

Me’s bankruptcy estate won court approval to remove about 157,000 potentially fraudulent claims for compensation from the DNA testing firm over a 2023 data breach that exposed private customer data.
Devdiscourse

First Brands Secures $600 Million Lifeline Amidst Bankruptcy Turmoil

First Brands, a bankrupt auto parts maker, received court approval for $600 million in rescue financing after resolving disputes with creditors. The company, accused of financial irregularities, faces ...

First Brands Wins Approval to Tap Bankruptcy Loan

A bankruptcy judge in Houston authorized the auto-parts supplier access to $600 million in a loan to continue funding its ...

More Minnesotans file for bankruptcy than U.S. average, a recession red flag

As high prices persist and wages fail to keep up, consumers are dealing with mounting debt in an already slowing economy.

Trust But Verify: Bankruptcy Court Issues First Published Opinion on Limits on Use of AI

In a decision of first impression, the U.S. Bankruptcy Court for the Northern District of Illinois (the court) imposed ...
Tax Guru

Resolution professional of Corporate Debtor appointed as liquidator as approved by CoC

NCLT Kochi orders liquidation of the Corporate Debtor [M/s. Malayalam Vehicles India Pvt. Ltd.] as duly approved by CoC and Resolution Professional of Corporate Debtor appointed as Liquidator to carry ...

Major Overhaul Expected In Insolvency And Bankruptcy Code Before Winter Session Of Parliament

Major changes to the Insolvency and Bankruptcy Code (IBC), focusing on Section 29A's "blood relation" rules, are anticipated ...

Private Lender Moves Risk Extend-and-Pretend Path to Bankruptcy

Private credit lenders are easing loan terms on existing deals in hopes of staving off costly restructurings, at the risk of ...

First Brands’ messy day in bankruptcy court

Plus, a new insurance-funded private capital group emerges and how to make money getting cash out of Hong Kong ...

First Brands says it needs $780 million or ‘It’s game over’

Its Malaysian-born founder has been accused of looting the bankrupt auto parts company of $915 million. Read more at ...
The Business Times

First Brands says it needs US$600 million or ‘it’s game over’

FIRST Brands Group lawyers said the company needs access to its roughly US$600 million of remaining bankruptcy financing to ...