First Brands Founder James Says Lenders to Blame for Bankruptcy

First Brands Founder James Says Lenders to Blame for Bankruptcy

First Brands founder Patrick James asked a judge to dismiss a lawsuit accusing him of misappropriating hundreds of millions of dollars, contending firms that provided his company with off balance-sheet financing engaged in “predatory” practices that helped tip the auto-parts supplier into bankruptcy.

First Brands advances stabilization efforts during chapter 11 proceedings

The company stated that its distribution and manufacturing centers are operational and shipping customer orders.