{ "schema_version": "1.0", "target_id": "fbg", "language": "en", "nodes": [ { "id": "fbg", "name": "First Brands Group, LLC", "type": "organization", "role": "", "period": "", "group": "subject", "claim_ids": [ "c-id-petition", "c-id-delaware-llc", "c-id-lei", "c-id-formation-date", "c-id-register-copy", "c-id-offer-brands", "c-id-product-categories", "c-id-workforce", "c-id-channels", "c-id-growth-defense", "c-id-rochester-hills", "c-own-no-other-holder", "c-own-chain-to-fbg", "c-own-fbgi-former-name", "c-own-spv-silo", "c-own-founder-declaration", "c-own-complaint", "c-own-offer-2023", "c-own-ec-notification", "c-own-cro-testimony", "c-own-direct-holders", "c-own-gleif-exception", "c-grp-debtors-engine-parts", "c-grp-debtors-brakes-wipers", "c-grp-debtors-uci", "c-grp-debtors-horizon", "c-grp-joint-admin", "c-grp-common-address", "c-grp-framauto", "c-acq-formation", "c-acq-trico-jefferies", "c-acq-brake-parts", "c-acq-horizon-approach", "c-acq-horizon-price", "c-acq-jefferies-financing", "c-acq-horizon-offer", "c-acq-horizon-close", "c-debt-table", "c-debt-abl", "c-debt-first-lien", "c-debt-second-lien", "c-debt-sidecar", "c-debt-collateral", "c-debt-leverage", "c-debt-liquidity-costs", "c-debt-refinancing", "c-debt-jefferies-letter", "c-debt-adhoc-holdings", "c-debt-palmer-square", "c-debt-blackrock-clo", "c-debt-private-credit", "c-debt-abl-forbearance", "c-debt-southstate", "c-spv-structure", "c-spv-aequum", "c-spv-evolution", "c-spv-onset-mechanism", "c-spv-evolution-default", "c-spv-complaint-double-pledge", "c-spv-kirschner-structure", "c-spv-jerneycic", "c-spv-evolution-collateral", "c-spv-evolution-chapter7", "c-spv-aequum-ruling", "c-spv-dismissal-motions", "c-spv-indictment-james-entities", "c-spv-indictment-misstatement", "c-spv-onset-position", "c-spv-james-defense-lenders", "c-spv-umb-motion", "c-spv-private-credit-exposure", "c-fac-two-programs", "c-fac-third-party-balance", "c-fac-servicing", "c-fac-james-unsecured-view", "c-fac-yields-raistone-remark", "c-fac-top-creditors", "c-fac-top-creditors-scf", "c-fac-factor-creditors", "c-fac-docket-financiers", "c-fac-docket-banks", "c-fac-raistone-examiner", "c-fac-raistone-oconnor", "c-fac-katsumi-invoice", "c-fac-katsumi-exposure", "c-fac-katsumi-kirschner", "c-fac-point-bonita-receivables", "c-fac-jefferies-letter", "c-fac-jefferies-awareness", "c-fac-lam-objection", "c-fac-leucadia-kirschner", "c-fac-western-alliance", "c-fac-point-bonita-investor-suit", "c-fac-primerevenue-kirschner", "c-fac-primerevenue-strike", "c-fac-indictment-receivables", "c-fac-indictment-payables", "c-fac-brumbergs-scf", "c-fac-complaint-overview", "c-fac-evolution-lien", "c-fac-factored-account", "c-fac-evolution-remand", "c-fac-evolution-perfection", "c-ch11-petition", "c-ch11-lead-case", "c-ch11-spv-filing", "c-ch11-advisers", "c-ch11-nol-stipulation", "c-ch11-dip-parties", "c-ch11-dip-size", "c-ch11-dip-interim-final", "c-ch11-dip-rates", "c-ch11-dip-prepetition-first-lien", "c-ch11-dip-ad-hoc-group", "c-ch11-dip-fronting", "c-ch11-dip-parent-guaranty", "c-ch11-dip-draw-conditions", "c-ch11-dip-cro-investigation", "c-ch11-dip-signatory", "c-ch11-dip-cash-control", "c-ch11-dip-trading", "c-ch11-ford-gm", "c-ch11-early-motions", "c-ch11-spv-separateness", "c-ch11-examiner", "c-ch11-examiner-budget", "c-ch11-do-order", "c-ch11-do-appeal", "c-ch11-adversaries", "c-ch11-party-mayfair", "c-ch11-interested-parties", "c-ch11-former-executives-parties", "c-ch11-ust-conversion-motion", "c-ch11-customs-claim", "c-ch11-pbgc", "c-ch11-plan-structure", "c-ch11-plan-claims", "c-ch11-plan-releases", "c-ch11-sale-proceeds-paydown", "c-ch11-suits-stayed", "c-ch11-litigation-targets", "c-ch11-plan-denial", "c-ch11-plan-denial-dip", "c-ch11-plan-denial-moore-spv", "c-ch11-conversion", "c-ch11-conversion-order-terms", "c-ch11-spv-conversion-evolution", "c-ch11-planters-onset", "c-sale-walbro", "c-sale-tmd", "c-sale-three-divestitures", "c-sale-pgi-brands", "c-sale-pgi-assets", "c-sale-brake-brands", "c-sale-winddown", "c-sale-closures", "c-sale-eagle-warn", "c-sale-eagle-debtor", "c-sale-eagle-local", "c-sale-bpi-mchenry", "c-intl-rescue-funding", "c-intl-chapter11", "c-intl-ultinon-germany", "c-intl-de-overview", "c-intl-westfalia-press", "c-intl-diepersdorf", "c-intl-meteor", "c-intl-organigram", "c-intl-fram-canada", "c-intl-hopkins-canada", "c-suit-complaint", "c-suit-diversion-theory", "c-suit-trust-transfers", "c-suit-onset-proceeds", "c-suit-james-companies", "c-suit-personal-spending", "c-suit-injunction", "c-suit-defense-narrative", "c-suit-us-stay", "c-suit-examiner-transfers", "c-suit-examiner-fram-uci", "c-suit-examiner-alester", "c-suit-examiner-novares", "c-suit-kirschner-acquisitions", "c-suit-kirschner-insiders", "c-suit-kirschner-edward", "c-suit-committee-ponzi", "c-suit-plan-claims", "c-suit-edward-onset-complaint", "c-suit-lenders-onset", "c-suit-baker", "c-crim-defendants", "c-crim-allegations", "c-crim-owner-proceeds", "c-crim-auditors", "c-crim-money-laundering", "c-crim-prosecution-statements", "c-crim-pretrial-motions", "c-crim-brumbergs-plea", "c-crim-brumbergs-statements", "c-crim-graham-plea", "c-crim-graham-statements", "c-fdr-baker-sandor", "c-fdr-edward-lenders", "c-fdr-novares-notification", "c-lead-boards-2025", "c-lead-special-committee", "c-lead-filing-consent", "c-lead-cro", "c-lead-officers-petition", "c-lead-james-signatory", "c-lead-officers-2023", "c-lead-paul-hastings", "c-lead-phx-officers", "c-lead-departures-sept", "c-lead-departures-oct", "c-lead-james-resignation", "c-lead-moore-interim", "c-lead-kumar-remains", "c-lead-edward-title", "c-lead-duster-committee", "c-gate-house-letter", "c-gate-bdo-auditor", "c-gate-examiner-bdo", "c-gate-black-diamond" ], "badges": [ { "label": "Chapter 11 filing (September 2025), converted to Chapter 7 (September 2026)", "claim_ids": [ "c-ch11-petition", "c-ch11-conversion" ], "category": "FINANCIAL_DISTRESS", "code": "A1", "subject_id": "fbg" }, { "label": "Reported U.S. government claim of $286 million for underpaid tariffs (2026)", "claim_ids": [ "c-ch11-customs-claim" ], "category": "REGULATORY_ACTION", "code": "A22", "subject_id": "fbg" } ], "subtype": "company", "jurisdiction": "us" }, { "id": "fbgi", "name": "First Brands Group Intermediate, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-chain-to-fbg", "c-own-fbgi-former-name", "c-debt-abl", "c-debt-first-lien", "c-debt-second-lien", "c-debt-sidecar", "c-ch11-dip-parties", "c-ch11-dip-prepetition-first-lien", "c-ch11-dip-governance", "c-ch11-dip-signatory", "c-lead-boards-2025", "c-lead-special-committee", "c-lead-filing-consent", "c-lead-cro" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "fbgh", "name": "First Brands Group Holdings, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-fbgh-holders", "c-own-mayfair-viceroy", "c-own-chain-to-fbg", "c-own-counsel-holdings", "c-grp-debtors-engine-parts", "c-grp-debtors-brakes-wipers", "c-grp-debtors-uci", "c-grp-debtors-horizon", "c-debt-totals", "c-spv-carval-ii", "c-spv-carval-iii", "c-spv-onset-leases", "c-spv-onset-forbearance-third", "c-ch11-dip-parent-guaranty", "c-ch11-plan-structure", "c-ch11-plan-denial-dip", "c-intl-ultinon-acquisition", "c-intl-ultinon-chain", "c-intl-appointees", "c-intl-de-overview", "c-lead-boards-2025", "c-lead-special-committee", "c-lead-filing-consent", "c-lead-cro" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "viceroy", "name": "Viceroy Private Capital, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-fbgh-holders", "c-own-mayfair-viceroy", "c-own-chain-to-fbg", "c-own-spv-silo", "c-own-counsel-holdings", "c-grp-debtors-engine-parts", "c-grp-debtors-brakes-wipers", "c-grp-debtors-uci", "c-grp-debtors-horizon", "c-debt-totals", "c-spv-structure", "c-spv-aequum", "c-spv-global-assets", "c-spv-onset-leases", "c-spv-onset-forbearance-third", "c-spv-james-defense-lenders", "c-ch11-dip-parent-guaranty", "c-ch11-plan-structure", "c-ch11-plan-denial-dip", "c-suit-onset-proceeds", "c-lead-boards-2025", "c-lead-special-committee", "c-lead-filing-consent", "c-lead-cro" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "mayfair", "name": "Mayfair Enterprises, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-mayfair-viceroy", "c-own-direct-holders", "c-ch11-nol-stipulation", "c-ch11-do-order", "c-ch11-party-mayfair" ], "badges": [], "subtype": "company" }, { "id": "bph", "name": "Brake Parts Holdings, Inc.", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-fbgh-holders", "c-own-counsel-holdings", "c-own-direct-holders", "c-ch11-nol-stipulation" ], "badges": [], "subtype": "company" }, { "id": "aztec", "name": "Aztec Corporation", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-fbgh-holders", "c-own-counsel-holdings", "c-own-direct-holders", "c-ch11-nol-stipulation" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "patrick-james", "name": "Patrick James", "type": "person", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-id-growth-defense", "c-own-complaint", "c-own-offer-2023", "c-own-ec-notification", "c-own-counsel-holdings", "c-own-cro-testimony", "c-own-direct-holders", "c-grp-james-signatory", "c-acq-trico-jefferies", "c-acq-greensill", "c-spv-complaint-double-pledge", "c-spv-bowery-complaint", "c-spv-bowery-kirschner", "c-spv-kirschner-structure", "c-spv-jerneycic", "c-spv-aequum-ruling", "c-spv-indictment-james-entities", "c-spv-indictment-misstatement", "c-spv-james-defense-lenders", "c-fac-james-unsecured-view", "c-fac-yields-raistone-remark", "c-fac-katsumi-invoice", "c-fac-jefferies-entities", "c-fac-point-bonita-receivables", "c-fac-indictment-receivables", "c-fac-indictment-payables", "c-fac-complaint-overview", "c-ch11-nol-stipulation", "c-ch11-interested-parties", "c-ch11-suits-stayed", "c-ch11-litigation-targets", "c-ch11-plan-denial-moore-spv", "c-suit-complaint", "c-suit-defendants", "c-suit-diversion-theory", "c-suit-trust-transfers", "c-suit-onset-proceeds", "c-suit-james-companies", "c-suit-personal-spending", "c-suit-injunction", "c-suit-motion-dismiss", "c-suit-defense-narrative", "c-suit-us-stay", "c-suit-jefferies-subpoena", "c-suit-examiner-transfers", "c-suit-examiner-fram-uci", "c-suit-examiner-alester", "c-suit-examiner-novares", "c-suit-kirschner-acquisitions", "c-suit-kirschner-insiders", "c-suit-committee-tracing", "c-suit-committee-ponzi", "c-suit-plan-claims", "c-suit-baker", "c-crim-indictment-filed", "c-crim-defendants", "c-crim-counts", "c-crim-allegations", "c-crim-owner-proceeds", "c-crim-auditors", "c-crim-edward-role", "c-crim-money-laundering", "c-crim-pleas", "c-crim-prosecution-statements", "c-crim-bail-patrick", "c-crim-release-modified", "c-crim-trial-schedule", "c-crim-pretrial-motions", "c-crim-subpoenas", "c-fdr-earlier-ventures", "c-fdr-creditor-disputes", "c-fdr-worthington", "c-fdr-tristate", "c-fdr-fortress", "c-fdr-variform", "c-fdr-sandor-foundation", "c-fdr-baker-sandor", "c-fdr-novares-notification", "c-lead-boards-2025", "c-lead-filing-consent", "c-lead-officers-petition", "c-lead-james-signatory", "c-lead-officers-2023", "c-lead-phx-officers", "c-lead-horizon-board", "c-lead-departures-sept", "c-lead-james-resignation", "c-gate-house-letter" ], "badges": [ { "label": "Indicted in the Southern District of New York (January 2026); pleaded not guilty, trial set for February 2027", "claim_ids": [ "c-crim-indictment-filed", "c-crim-counts", "c-crim-pleas" ], "category": "CRIMINAL_PROCEEDINGS", "code": "A2", "subject_id": "patrick-james" }, { "label": "Defendant in the estate's fraudulent-transfer suit (Adv. Pro. 25-03803); allegations denied, discovery stayed", "claim_ids": [ "c-suit-complaint" ], "category": "CIVIL_LITIGATION", "code": "A5", "subject_id": "patrick-james" }, { "label": "Defendants in the Fortress Value Recovery Fund loan suit (N.D. Ohio, 2011); reported settled", "claim_ids": [ "c-fdr-fortress" ], "category": "CIVIL_LITIGATION", "code": "A19", "subject_id": "patrick-james" }, { "label": "Defendants in the TriState Capital Bank suit (N.D. Ohio, 2009); reported settled", "claim_ids": [ "c-fdr-tristate" ], "category": "CIVIL_LITIGATION", "code": "A20", "subject_id": "patrick-james" }, { "label": "Worthington Steel guarantee dispute (2005); allegations denied, dismissed after settlement", "claim_ids": [ "c-fdr-worthington" ], "category": "CIVIL_LITIGATION", "code": "A21", "subject_id": "patrick-james" } ], "subtype": "person" }, { "id": "pj-trust", "name": "Patrick James Trust", "type": "other", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-spv-bowery-complaint", "c-suit-complaint", "c-suit-defendants", "c-suit-diversion-theory", "c-suit-trust-transfers", "c-suit-onset-proceeds", "c-suit-motion-dismiss", "c-suit-us-stay", "c-suit-jefferies-subpoena", "c-suit-kirschner-insiders" ], "badges": [ { "label": "Defendant in the estate's fraudulent-transfer suit (Adv. Pro. 25-03803); allegations denied, discovery stayed", "claim_ids": [ "c-suit-complaint" ], "category": "CIVIL_LITIGATION", "code": "A5", "subject_id": "pj-trust" } ], "subtype": "other" }, { "id": "edward-james", "name": "Edward James", "type": "person", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-spv-kirschner-onset", "c-spv-indictment-james-entities", "c-spv-indictment-misstatement", "c-fac-leucadia-kirschner", "c-fac-indictment-receivables", "c-fac-indictment-payables", "c-ch11-do-appeal", "c-ch11-former-executives-parties", "c-intl-appointees", "c-suit-us-stay", "c-suit-kirschner-edward", "c-suit-committee-tracing", "c-suit-committee-ponzi", "c-suit-plan-claims", "c-suit-edward-onset-complaint", "c-suit-lenders-onset", "c-crim-indictment-filed", "c-crim-defendants", "c-crim-counts", "c-crim-allegations", "c-crim-edward-role", "c-crim-money-laundering", "c-crim-pleas", "c-crim-prosecution-statements", "c-crim-bail-edward", "c-crim-release-modified", "c-crim-trial-schedule", "c-crim-pretrial-motions", "c-fdr-sandor-foundation", "c-fdr-edward-lenders", "c-lead-officers-2023", "c-lead-phx-officers", "c-lead-departures-sept", "c-lead-edward-title" ], "badges": [ { "label": "Indicted in the Southern District of New York (January 2026); pleaded not guilty, trial set for February 2027", "claim_ids": [ "c-crim-indictment-filed", "c-crim-counts", "c-crim-pleas" ], "category": "CRIMINAL_PROCEEDINGS", "code": "A2", "subject_id": "edward-james" }, { "label": "Defendant in the debtors' suit over the Onset financings (January 2026); Onset denies wrongdoing; stayed", "claim_ids": [ "c-suit-edward-onset-complaint" ], "category": "CIVIL_LITIGATION", "code": "A6", "subject_id": "edward-james" } ], "subtype": "person" }, { "id": "stephen-graham", "name": "Stephen Graham", "type": "person", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-acq-horizon-approach", "c-fac-leucadia-kirschner", "c-ch11-former-executives-parties", "c-intl-diepersdorf-officers", "c-suit-kirschner-edward", "c-crim-graham-plea", "c-crim-graham-statements", "c-lead-boards-2025", "c-lead-filing-consent", "c-lead-officers-petition", "c-lead-officers-2023", "c-lead-phx-officers", "c-lead-horizon-board", "c-lead-departures-oct", "c-lead-trico-limited-directors", "c-lead-baker-graham-uk", "c-lead-ultinon-germany-mds" ], "badges": [ { "label": "Reported guilty plea to fraud counts (S.D.N.Y., March 2026)", "claim_ids": [ "c-crim-graham-plea" ], "category": "CRIMINAL_PROCEEDINGS", "code": "A4", "subject_id": "stephen-graham" } ], "subtype": "person" }, { "id": "shekhar-kumar", "name": "Shekhar Kumar", "type": "person", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-grp-james-signatory", "c-ch11-dip-signatory", "c-ch11-former-executives-parties", "c-sale-eagle-warn", "c-intl-diepersdorf-officers", "c-lead-boards-2025", "c-lead-filing-consent", "c-lead-officers-petition", "c-lead-officers-2023", "c-lead-paul-hastings", "c-lead-phx-officers", "c-lead-kumar-remains", "c-lead-trico-limited-directors", "c-lead-kumar-uk", "c-lead-ultinon-germany-mds", "c-lead-kumar-global-assets" ], "badges": [], "subtype": "person" }, { "id": "michael-baker", "name": "Michael Baker", "type": "person", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-ch11-former-executives-parties", "c-intl-appointees", "c-intl-diepersdorf-officers", "c-suit-baker", "c-fdr-sandor-foundation", "c-fdr-baker-sandor", "c-lead-officers-2023", "c-lead-paul-hastings", "c-lead-phx-officers", "c-lead-horizon-board", "c-lead-departures-sept", "c-lead-trico-limited-directors", "c-lead-baker-graham-uk", "c-lead-ultinon-germany-mds" ], "badges": [ { "label": "Defendant in a civil suit over the SPV financings (2026); denies knowledge of the fraud", "claim_ids": [ "c-suit-baker" ], "category": "CIVIL_LITIGATION", "code": "A7", "subject_id": "michael-baker" } ], "subtype": "person" }, { "id": "peter-brumbergs", "name": "Peter Andrew Brumbergs", "type": "person", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-fac-brumbergs-scf", "c-ch11-former-executives-parties", "c-crim-brumbergs-plea", "c-crim-brumbergs-date", "c-crim-brumbergs-statements", "c-lead-departures-oct" ], "badges": [ { "label": "Guilty plea to an eight-count information (S.D.N.Y., January 2026); cooperating with prosecutors", "claim_ids": [ "c-crim-brumbergs-plea" ], "category": "CRIMINAL_PROCEEDINGS", "code": "A3", "subject_id": "peter-brumbergs" } ], "subtype": "person" }, { "id": "charles-moore", "name": "Charles M. Moore", "type": "person", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-own-cro-testimony", "c-fac-servicing", "c-fac-katsumi-exposure", "c-fac-primerevenue-strike", "c-ch11-petition", "c-ch11-lead-case", "c-ch11-advisers", "c-ch11-dip-cro-investigation", "c-ch11-sale-proceeds-paydown", "c-ch11-plan-denial-moore-spv", "c-ch11-conversion-order-terms", "c-suit-complaint", "c-lead-cro", "c-lead-james-resignation", "c-lead-moore-interim", "c-lead-am-moore-kosturos" ], "badges": [], "subtype": "person" }, { "id": "daniel-jerneycic", "name": "Daniel Jerneycic", "type": "person", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-spv-jerneycic", "c-ch11-conversion-order-terms", "c-lead-moore-interim", "c-lead-am-co-cros" ], "badges": [], "subtype": "person" }, { "id": "gaurav-malhotra", "name": "Gaurav Malhotra", "type": "person", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-ch11-conversion-order-terms", "c-lead-moore-interim", "c-lead-am-co-cros" ], "badges": [], "subtype": "person" }, { "id": "paul-kosturos", "name": "Paul Kosturos", "type": "person", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-ch11-conversion-order-terms", "c-sale-eagle-warn", "c-lead-moore-interim", "c-lead-am-moore-kosturos" ], "badges": [], "subtype": "person" }, { "id": "neal-goldman", "name": "Neal Goldman", "type": "person", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-ch11-plan-releases", "c-ch11-conversion-order-terms", "c-lead-boards-2025", "c-lead-special-committee", "c-lead-filing-consent", "c-lead-goldman-identity", "c-lead-duster-committee" ], "badges": [], "subtype": "person" }, { "id": "william-transier", "name": "William Transier", "type": "person", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-ch11-plan-releases", "c-ch11-conversion-order-terms", "c-lead-boards-2025", "c-lead-special-committee", "c-lead-filing-consent", "c-lead-transier-identity", "c-lead-duster-committee" ], "badges": [], "subtype": "person" }, { "id": "benjamin-duster", "name": "Benjamin Duster", "type": "person", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-ch11-plan-releases", "c-ch11-conversion-order-terms", "c-lead-duster-committee", "c-lead-duster-identity", "c-lead-duster-cardone" ], "badges": [], "subtype": "person" }, { "id": "david-parker", "name": "David William Parker", "type": "person", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-lead-trico-limited-directors", "c-lead-parker-uk", "c-lead-ultinon-germany-mds" ], "badges": [], "subtype": "person" }, { "id": "jay-machado", "name": "Jay Russell Machado", "type": "person", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-lead-trico-limited-2020" ], "badges": [], "subtype": "person" }, { "id": "brian-troyer", "name": "Brian Andrew Troyer", "type": "person", "role": "", "period": "", "group": "leadership", "claim_ids": [ "c-lead-trico-limited-2020" ], "badges": [], "subtype": "person" }, { "id": "albion-realty", "name": "Albion Realty, LLC", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-suit-complaint", "c-suit-defendants", "c-suit-rule71", "c-suit-james-companies", "c-suit-injunction", "c-suit-motion-dismiss", "c-suit-us-stay", "c-suit-jefferies-subpoena", "c-suit-examiner-fram-uci" ], "badges": [ { "label": "Defendant in the estate's fraudulent-transfer suit (Adv. Pro. 25-03803); allegations denied, discovery stayed", "claim_ids": [ "c-suit-complaint" ], "category": "CIVIL_LITIGATION", "code": "A5", "subject_id": "albion-realty" } ], "subtype": "company", "jurisdiction": "us" }, { "id": "alester", "name": "Alester Technologies LLC", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-suit-complaint", "c-suit-defendants", "c-suit-rule71", "c-suit-james-companies", "c-suit-injunction", "c-suit-motion-dismiss", "c-suit-us-stay", "c-suit-jefferies-subpoena", "c-suit-examiner-alester" ], "badges": [ { "label": "Defendant in the estate's fraudulent-transfer suit (Adv. Pro. 25-03803); allegations denied, discovery stayed", "claim_ids": [ "c-suit-complaint" ], "category": "CIVIL_LITIGATION", "code": "A5", "subject_id": "alester" } ], "subtype": "company", "jurisdiction": "us" }, { "id": "battery-park", "name": "Battery Park Holdings LLC", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-suit-complaint", "c-suit-defendants", "c-suit-rule71", "c-suit-james-companies", "c-suit-motion-dismiss", "c-suit-us-stay", "c-suit-jefferies-subpoena", "c-suit-kirschner-insiders" ], "badges": [ { "label": "Defendant in the estate's fraudulent-transfer suit (Adv. Pro. 25-03803); allegations denied, discovery stayed", "claim_ids": [ "c-suit-complaint" ], "category": "CIVIL_LITIGATION", "code": "A5", "subject_id": "battery-park" } ], "subtype": "company", "jurisdiction": "us" }, { "id": "bond-street", "name": "Bond Street Asset Management LLC", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-suit-complaint", "c-suit-defendants", "c-suit-rule71", "c-suit-james-companies", "c-suit-injunction", "c-suit-motion-dismiss", "c-suit-jefferies-subpoena" ], "badges": [ { "label": "Defendant in the estate's fraudulent-transfer suit (Adv. Pro. 25-03803); allegations denied, discovery stayed", "claim_ids": [ "c-suit-complaint" ], "category": "CIVIL_LITIGATION", "code": "A5", "subject_id": "bond-street" } ], "subtype": "company", "jurisdiction": "us" }, { "id": "ignite", "name": "Ignite Acquisition Holdings LLC", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-suit-complaint", "c-suit-defendants", "c-suit-rule71", "c-suit-james-companies", "c-suit-injunction", "c-suit-motion-dismiss", "c-suit-jefferies-subpoena" ], "badges": [ { "label": "Defendant in the estate's fraudulent-transfer suit (Adv. Pro. 25-03803); allegations denied, discovery stayed", "claim_ids": [ "c-suit-complaint" ], "category": "CIVIL_LITIGATION", "code": "A5", "subject_id": "ignite" } ], "subtype": "company", "jurisdiction": "us" }, { "id": "larchmont", "name": "Larchmont LLC", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-suit-complaint", "c-suit-defendants", "c-suit-james-companies", "c-suit-injunction", "c-suit-motion-dismiss", "c-suit-us-stay", "c-suit-jefferies-subpoena", "c-suit-kirschner-insiders" ], "badges": [ { "label": "Defendant in the estate's fraudulent-transfer suit (Adv. Pro. 25-03803); allegations denied, discovery stayed", "claim_ids": [ "c-suit-complaint" ], "category": "CIVIL_LITIGATION", "code": "A5", "subject_id": "larchmont" } ], "subtype": "company", "jurisdiction": "us" }, { "id": "pegasus-aviation", "name": "Pegasus Aviation, LLC", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-suit-complaint", "c-suit-defendants", "c-suit-rule71", "c-suit-james-companies", "c-suit-injunction", "c-suit-motion-dismiss", "c-suit-us-stay", "c-suit-jefferies-subpoena" ], "badges": [ { "label": "Defendant in the estate's fraudulent-transfer suit (Adv. Pro. 25-03803); allegations denied, discovery stayed", "claim_ids": [ "c-suit-complaint" ], "category": "CIVIL_LITIGATION", "code": "A5", "subject_id": "pegasus-aviation" } ], "subtype": "company", "jurisdiction": "us" }, { "id": "bowery-finance", "name": "Bowery Finance II", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-spv-bowery-complaint", "c-spv-bowery-kirschner", "c-spv-aequum-ruling" ], "badges": [], "subtype": "company" }, { "id": "bleecker-group", "name": "Bleecker Group", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-suit-examiner-fram-uci" ], "badges": [], "subtype": "company" }, { "id": "gt-partners", "name": "Global Technologies Partners, LLC", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-own-ec-notification", "c-fdr-novares-notification" ], "badges": [], "subtype": "company" }, { "id": "gt-sarl", "name": "Global Technologies S.à r.l.", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-own-ec-notification", "c-suit-examiner-novares", "c-fdr-novares-notification" ], "badges": [], "subtype": "company", "jurisdiction": "lu" }, { "id": "novares", "name": "Novares Group SAS", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-own-ec-notification", "c-suit-examiner-novares", "c-fdr-novares-notification" ], "badges": [], "subtype": "company", "jurisdiction": "fr" }, { "id": "sandor-foundation", "name": "Sandor Foundation", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-fdr-sandor-foundation", "c-fdr-baker-sandor" ], "badges": [], "subtype": "other", "jurisdiction": "us" }, { "id": "columbus-components", "name": "Columbus Components Group, LLC", "type": "organization", "role": "", "period": "", "group": "historical", "claim_ids": [ "c-fdr-fortress" ], "badges": [ { "label": "Defendants in the Fortress Value Recovery Fund loan suit (N.D. Ohio, 2011); reported settled", "claim_ids": [ "c-fdr-fortress" ], "category": "CIVIL_LITIGATION", "code": "A19", "subject_id": "columbus-components" } ], "subtype": "company", "jurisdiction": "us" }, { "id": "hawthorn", "name": "Hawthorn Manufacturing Corporation", "type": "organization", "role": "", "period": "", "group": "historical", "claim_ids": [ "c-fdr-earlier-ventures", "c-fdr-fortress" ], "badges": [ { "label": "Defendants in the Fortress Value Recovery Fund loan suit (N.D. Ohio, 2011); reported settled", "claim_ids": [ "c-fdr-fortress" ], "category": "CIVIL_LITIGATION", "code": "A19", "subject_id": "hawthorn" } ], "subtype": "company", "jurisdiction": "us" }, { "id": "ccg-holdings", "name": "CCG Holdings, LLC", "type": "organization", "role": "", "period": "", "group": "historical", "claim_ids": [ "c-fdr-fortress" ], "badges": [ { "label": "Defendants in the Fortress Value Recovery Fund loan suit (N.D. Ohio, 2011); reported settled", "claim_ids": [ "c-fdr-fortress" ], "category": "CIVIL_LITIGATION", "code": "A19", "subject_id": "ccg-holdings" } ], "subtype": "company" }, { "id": "pj-management", "name": "PJ Management Group, LLC", "type": "organization", "role": "", "period": "", "group": "historical", "claim_ids": [ "c-fdr-fortress" ], "badges": [ { "label": "Defendants in the Fortress Value Recovery Fund loan suit (N.D. Ohio, 2011); reported settled", "claim_ids": [ "c-fdr-fortress" ], "category": "CIVIL_LITIGATION", "code": "A19", "subject_id": "pj-management" } ], "subtype": "company" }, { "id": "red-rock-stamping", "name": "Red Rock Stamping LLC", "type": "organization", "role": "", "period": "", "group": "historical", "claim_ids": [ "c-fdr-tristate" ], "badges": [ { "label": "Defendants in the TriState Capital Bank suit (N.D. Ohio, 2009); reported settled", "claim_ids": [ "c-fdr-tristate" ], "category": "CIVIL_LITIGATION", "code": "A20", "subject_id": "red-rock-stamping" } ], "subtype": "company" }, { "id": "vari-form", "name": "Vari-Form Group, L.L.C.", "type": "organization", "role": "", "period": "", "group": "historical", "claim_ids": [ "c-fdr-variform" ], "badges": [], "subtype": "company" }, { "id": "tristate-capital", "name": "TriState Capital Bank", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-crim-subpoenas", "c-fdr-tristate" ], "badges": [], "subtype": "company" }, { "id": "optimus", "name": "Optimus Private Capital LLC", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-suit-committee-tracing" ], "badges": [], "subtype": "company" }, { "id": "jcmc", "name": "JCMC Investment Group LLC", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-suit-committee-tracing" ], "badges": [], "subtype": "company" }, { "id": "helios", "name": "Helios Strategic Advisors", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-suit-kirschner-edward" ], "badges": [], "subtype": "company" }, { "id": "carnaby-holdings", "name": "Carnaby Capital Holdings, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-spv-silo", "c-grp-spv-cases", "c-grp-common-address", "c-spv-structure", "c-spv-global-assets", "c-spv-onset-leases", "c-spv-petitions" ], "badges": [ { "label": "Protective Chapter 11 filing of the SPV debtors (September 24, 2025)", "claim_ids": [ "c-spv-petitions" ], "category": "FINANCIAL_DISTRESS", "code": "A9", "subject_id": "carnaby-holdings" } ], "subtype": "company" }, { "id": "broad-street", "name": "Broad Street Financial, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-spv-silo", "c-grp-spv-cases", "c-spv-aequum", "c-spv-petitions", "c-spv-aequum-ruling", "c-spv-dismissal-motions" ], "badges": [ { "label": "Protective Chapter 11 filing of the SPV debtors (September 24, 2025)", "claim_ids": [ "c-spv-petitions" ], "category": "FINANCIAL_DISTRESS", "code": "A9", "subject_id": "broad-street" } ], "subtype": "company" }, { "id": "broad-street-holdings", "name": "Broad Street Financial Holdings, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-spv-silo", "c-grp-spv-cases", "c-spv-aequum", "c-spv-petitions" ], "badges": [ { "label": "Protective Chapter 11 filing of the SPV debtors (September 24, 2025)", "claim_ids": [ "c-spv-petitions" ], "category": "FINANCIAL_DISTRESS", "code": "A9", "subject_id": "broad-street-holdings" } ], "subtype": "company" }, { "id": "global-assets-llc", "name": "Global Assets LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-spv-silo", "c-grp-spv-cases", "c-spv-global-assets", "c-spv-petitions" ], "badges": [ { "label": "Protective Chapter 11 filing of the SPV debtors (September 24, 2025)", "claim_ids": [ "c-spv-petitions" ], "category": "FINANCIAL_DISTRESS", "code": "A9", "subject_id": "global-assets-llc" } ], "subtype": "company" }, { "id": "global-assets-gmbh", "name": "Global Assets GmbH", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-spv-silo", "c-spv-global-assets", "c-lead-kumar-global-assets" ], "badges": [], "subtype": "company", "jurisdiction": "de" }, { "id": "carnaby-ii", "name": "Carnaby Inventory II, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-spv-silo", "c-grp-spv-cases", "c-grp-common-address", "c-spv-carval-ii", "c-spv-petitions", "c-spv-bowery-kirschner", "c-spv-dismissal-motions" ], "badges": [ { "label": "Protective Chapter 11 filing of the SPV debtors (September 24, 2025)", "claim_ids": [ "c-spv-petitions" ], "category": "FINANCIAL_DISTRESS", "code": "A9", "subject_id": "carnaby-ii" } ], "subtype": "company" }, { "id": "carnaby-iii", "name": "Carnaby Inventory III, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-spv-silo", "c-grp-spv-cases", "c-grp-common-address", "c-spv-carval-iii", "c-spv-petitions", "c-spv-bowery-kirschner", "c-spv-dismissal-motions" ], "badges": [ { "label": "Protective Chapter 11 filing of the SPV debtors (September 24, 2025)", "claim_ids": [ "c-spv-petitions" ], "category": "FINANCIAL_DISTRESS", "code": "A9", "subject_id": "carnaby-iii" } ], "subtype": "company" }, { "id": "patterson", "name": "Patterson Inventory, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-spv-silo", "c-grp-spv-cases", "c-spv-evolution", "c-spv-petitions", "c-spv-jerneycic", "c-spv-evolution-collateral", "c-spv-evolution-chapter7", "c-ch11-conversion-order-terms" ], "badges": [ { "label": "Protective Chapter 11 filing of the SPV debtors (September 24, 2025)", "claim_ids": [ "c-spv-petitions" ], "category": "FINANCIAL_DISTRESS", "code": "A9", "subject_id": "patterson" } ], "subtype": "company" }, { "id": "starlight", "name": "Starlight Inventory I, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-spv-silo", "c-grp-spv-cases", "c-spv-evolution", "c-spv-petitions", "c-spv-evolution-default", "c-spv-jerneycic", "c-spv-evolution-collateral", "c-spv-evolution-chapter7", "c-ch11-conversion-order-terms" ], "badges": [ { "label": "Protective Chapter 11 filing of the SPV debtors (September 24, 2025)", "claim_ids": [ "c-spv-petitions" ], "category": "FINANCIAL_DISTRESS", "code": "A9", "subject_id": "starlight" } ], "subtype": "company" }, { "id": "carnaby-iv", "name": "Carnaby Inventory IV, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-spv-silo", "c-grp-common-address", "c-grp-james-signatory", "c-spv-onset-leases", "c-spv-onset-mechanism", "c-spv-onset-forbearance-early", "c-spv-onset-forbearance-third", "c-suit-onset-proceeds" ], "badges": [], "subtype": "company" }, { "id": "carnaby-fa", "name": "Carnaby FA, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-own-spv-silo", "c-grp-common-address", "c-grp-james-signatory", "c-spv-onset-leases", "c-spv-onset-forbearance-early", "c-spv-onset-forbearance-third", "c-spv-kirschner-onset", "c-suit-onset-proceeds" ], "badges": [], "subtype": "company" }, { "id": "onset", "name": "Onset Financial, Inc.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-id-growth-defense", "c-debt-leverage", "c-spv-onset-leases", "c-spv-onset-mechanism", "c-spv-onset-forbearance-early", "c-spv-onset-forbearance-third", "c-spv-complaint-double-pledge", "c-spv-bowery-complaint", "c-spv-kirschner-onset", "c-spv-onset-position", "c-spv-james-defense-lenders", "c-fac-docket-financiers", "c-ch11-dip-interim-final", "c-ch11-adversaries", "c-ch11-suits-stayed", "c-ch11-litigation-targets", "c-ch11-planters-onset", "c-suit-onset-proceeds", "c-suit-defense-narrative", "c-suit-kirschner-edward", "c-suit-committee-tracing", "c-suit-plan-claims", "c-suit-edward-onset-complaint", "c-suit-lenders-onset" ], "badges": [ { "label": "Defendant in the debtors' suit over the Onset financings (January 2026); Onset denies wrongdoing; stayed", "claim_ids": [ "c-suit-edward-onset-complaint" ], "category": "CIVIL_LITIGATION", "code": "A6", "subject_id": "onset" }, { "label": "Sued by Planters Bank over a master lease schedule (June 2026); pending", "claim_ids": [ "c-ch11-planters-onset" ], "category": "CIVIL_LITIGATION", "code": "A23", "subject_id": "onset" } ], "subtype": "company" }, { "id": "evolution-cp", "name": "Evolution Credit Partners", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-spv-jerneycic", "c-spv-evolution-collateral", "c-spv-evolution-chapter7", "c-spv-private-credit-exposure", "c-fac-factor-creditors", "c-fac-docket-financiers", "c-fac-evolution-lien", "c-fac-factored-account", "c-fac-evolution-remand", "c-fac-evolution-perfection", "c-ch11-early-motions", "c-ch11-plan-denial-moore-spv", "c-ch11-spv-conversion-evolution" ], "badges": [], "subtype": "company" }, { "id": "evolution-fund", "name": "Evolution Credit Opportunity Master Fund II-B, L.P.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-spv-evolution", "c-spv-evolution-default", "c-spv-complaint-double-pledge", "c-ch11-spv-separateness", "c-ch11-adversaries" ], "badges": [], "subtype": "company" }, { "id": "aequum", "name": "Aequum Capital Financial II, LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-spv-aequum", "c-spv-aequum-ruling", "c-spv-dismissal-motions", "c-fac-docket-banks", "c-ch11-early-motions", "c-ch11-spv-separateness", "c-ch11-adversaries" ], "badges": [], "subtype": "company" }, { "id": "glas-trust", "name": "GLAS Trust Company LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-spv-carval-ii", "c-spv-carval-iii", "c-ch11-adversaries" ], "badges": [], "subtype": "company" }, { "id": "umb-bank", "name": "UMB Bank, N.A.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-spv-global-assets", "c-spv-umb-motion", "c-fac-docket-banks" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "pemberton", "name": "Pemberton Asset Management", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-spv-private-credit-exposure" ], "badges": [], "subtype": "company" }, { "id": "katsumi", "name": "Katsumi Global, LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-factor-creditors", "c-fac-katsumi-invoice", "c-fac-katsumi-exposure", "c-fac-katsumi-kirschner", "c-ch11-litigation-targets" ], "badges": [], "subtype": "company" }, { "id": "leucadia", "name": "Leucadia Asset Management LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-factor-creditors", "c-fac-jefferies-entities", "c-fac-point-bonita-receivables", "c-fac-jefferies-awareness", "c-fac-lam-objection", "c-fac-leucadia-kirschner", "c-ch11-interested-parties", "c-ch11-litigation-targets", "c-suit-jefferies-subpoena", "c-suit-kirschner-edward" ], "badges": [], "subtype": "company" }, { "id": "point-bonita", "name": "Point Bonita Capital", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-raistone-oconnor", "c-fac-jefferies-entities", "c-fac-point-bonita-receivables", "c-fac-jefferies-letter", "c-fac-jefferies-awareness", "c-fac-western-alliance", "c-fac-point-bonita-investor-suit", "c-suit-jefferies-subpoena" ], "badges": [ { "label": "Investor suit over the fund's First Brands receivables (2026)", "claim_ids": [ "c-fac-point-bonita-investor-suit" ], "category": "CIVIL_LITIGATION", "code": "A18", "subject_id": "point-bonita" } ], "subtype": "other" }, { "id": "jefferies-fg", "name": "Jefferies Financial Group Inc.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-acq-trico-jefferies", "c-debt-jefferies-letter", "c-fac-jefferies-entities", "c-fac-point-bonita-receivables", "c-fac-jefferies-letter", "c-fac-jefferies-awareness", "c-fac-leucadia-kirschner", "c-fac-western-alliance", "c-ch11-former-executives-parties", "c-ch11-litigation-targets", "c-suit-jefferies-subpoena" ], "badges": [ { "label": "Sued by Western Alliance over First Brands-linked loans (March 2026); Jefferies denies any obligation", "claim_ids": [ "c-fac-western-alliance" ], "category": "CIVIL_LITIGATION", "code": "A17", "subject_id": "jefferies-fg" } ], "subtype": "company" }, { "id": "jefferies-finance", "name": "Jefferies Finance LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-debt-first-lien", "c-debt-second-lien", "c-debt-jefferies-letter", "c-debt-jefferies-finance-id", "c-fac-jefferies-letter", "c-ch11-dip-prepetition-first-lien" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "jefferies-llc", "name": "Jefferies LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-acq-horizon-approach", "c-acq-jefferies-financing" ], "badges": [], "subtype": "company" }, { "id": "lam-tfg", "name": "LAM Trade Finance Group LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-jefferies-entities", "c-fac-western-alliance", "c-ch11-interested-parties", "c-suit-jefferies-subpoena" ], "badges": [], "subtype": "company" }, { "id": "lam-tfg-i", "name": "LAM Trade Finance Group I SPV LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-jefferies-entities", "c-fac-western-alliance", "c-ch11-interested-parties", "c-suit-jefferies-subpoena" ], "badges": [], "subtype": "company" }, { "id": "lam-tfg-ii", "name": "LAM Trade Finance Group II LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-jefferies-entities", "c-ch11-interested-parties", "c-suit-jefferies-subpoena" ], "badges": [], "subtype": "company" }, { "id": "raistone", "name": "Raistone Capital LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-yields-raistone-remark", "c-fac-top-creditors", "c-fac-factor-creditors", "c-fac-docket-financiers", "c-fac-raistone-examiner", "c-fac-raistone-oconnor", "c-ch11-early-motions" ], "badges": [], "subtype": "company" }, { "id": "primerevenue", "name": "PrimeRevenue", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-primerevenue-kirschner", "c-fac-primerevenue-strike" ], "badges": [], "subtype": "company" }, { "id": "cit-group", "name": "The CIT Group", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-top-creditors" ], "badges": [], "subtype": "company" }, { "id": "southstate", "name": "Southstate Bank, N.A.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-debt-southstate", "c-fac-top-creditors-scf" ], "badges": [], "subtype": "company" }, { "id": "greensill", "name": "Greensill Capital", "type": "organization", "role": "", "period": "", "group": "historical", "claim_ids": [ "c-acq-greensill" ], "badges": [], "subtype": "company" }, { "id": "factofrance", "name": "FactoFrance", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-docket-financiers" ], "badges": [], "subtype": "company" }, { "id": "mitsubishi-hc", "name": "Mitsubishi HC Capital America, Inc.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-docket-financiers" ], "badges": [], "subtype": "company" }, { "id": "napier-park", "name": "Napier Park Global Capital (US) LP", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-docket-banks" ], "badges": [], "subtype": "company" }, { "id": "bank-of-america", "name": "Bank of America, N.A.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-debt-abl", "c-debt-trico-charges", "c-debt-abl-forbearance", "c-spv-evolution-collateral", "c-spv-aequum-ruling", "c-fac-docket-banks", "c-ch11-adversaries" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "goldman-sachs-bank", "name": "Goldman Sachs Bank USA", "type": "organization", "role": "", "period": "", "group": "historical", "claim_ids": [ "c-debt-abl", "c-debt-first-lien", "c-debt-trico-charges" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "sagard-hm", "name": "Sagard Holdings Manager (US) LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-debt-sidecar" ], "badges": [], "subtype": "company" }, { "id": "glas-usa", "name": "GLAS USA LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-debt-sidecar" ], "badges": [], "subtype": "company" }, { "id": "wsfs", "name": "Wilmington Savings Fund Society, FSB", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-docket-banks", "c-ch11-dip-parties", "c-ch11-dip-parent-guaranty", "c-ch11-dip-cash-control", "c-intl-chapter11" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "opy-credit", "name": "OPY Credit Corp.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-ch11-dip-parties" ], "badges": [], "subtype": "company" }, { "id": "morgan-stanley-sf", "name": "Morgan Stanley Senior Funding, Inc.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-ch11-dip-fronting" ], "badges": [], "subtype": "company" }, { "id": "palmer-square", "name": "Palmer Square Capital BDC Inc.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-debt-palmer-square" ], "badges": [], "subtype": "company" }, { "id": "blackrock-clo", "name": "BlackRock European CLO III DAC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-debt-blackrock-clo" ], "badges": [], "subtype": "company" }, { "id": "marathon", "name": "Marathon Asset Management", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-debt-private-credit" ], "badges": [], "subtype": "company" }, { "id": "monroe", "name": "Monroe Capital", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-debt-private-credit" ], "badges": [], "subtype": "company" }, { "id": "antares", "name": "Antares Capital", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-debt-private-credit" ], "badges": [], "subtype": "company" }, { "id": "sagard", "name": "Sagard", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-debt-private-credit" ], "badges": [], "subtype": "company" }, { "id": "varde", "name": "Värde Partners", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-debt-private-credit" ], "badges": [], "subtype": "company" }, { "id": "sycamore-tree", "name": "Sycamore Tree Capital Partners", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-debt-private-credit" ], "badges": [], "subtype": "company" }, { "id": "alcentra", "name": "Alcentra", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-debt-private-credit" ], "badges": [], "subtype": "company" }, { "id": "oaktree", "name": "Oaktree Capital Management", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-ch11-dip-trading" ], "badges": [], "subtype": "company" }, { "id": "anchorage", "name": "Anchorage Capital", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-ch11-dip-trading" ], "badges": [], "subtype": "company" }, { "id": "ing-belgium", "name": "ING Belgium S.A./N.V.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-docket-financiers" ], "badges": [], "subtype": "company", "jurisdiction": "be" }, { "id": "silver-point", "name": "Silver Point Capital, L.P.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-docket-banks" ], "badges": [], "subtype": "company" }, { "id": "us-bank", "name": "U.S. Bank National Association", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-docket-banks" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "truist", "name": "Truist Bank", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-docket-banks" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "store-capital", "name": "STORE Capital Acquisitions, LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-docket-financiers" ], "badges": [], "subtype": "company" }, { "id": "planters-bank", "name": "Planters Bank", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-docket-banks", "c-ch11-adversaries", "c-ch11-planters-onset" ], "badges": [], "subtype": "company" }, { "id": "black-diamond", "name": "Black Diamond Capital Management", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-gate-black-diamond" ], "badges": [], "subtype": "company" }, { "id": "weil", "name": "Weil, Gotshal & Manges LLP", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-raistone-examiner", "c-ch11-petition", "c-ch11-advisers", "c-intl-diepersdorf-court", "c-suit-complaint" ], "badges": [], "subtype": "company" }, { "id": "alvarez-marsal", "name": "Alvarez & Marsal North America, LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-ch11-advisers", "c-lead-cro", "c-lead-moore-interim", "c-lead-am-moore-kosturos", "c-lead-am-co-cros" ], "badges": [], "subtype": "company" }, { "id": "lazard", "name": "Lazard Frères & Co.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-ch11-advisers", "c-ch11-dip-cro-investigation" ], "badges": [], "subtype": "company" }, { "id": "kroll", "name": "Kroll Restructuring Administration LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-ch11-advisers", "c-intl-chapter11" ], "badges": [], "subtype": "company" }, { "id": "quinn-emanuel", "name": "Quinn Emanuel Urquhart & Sullivan, LLP", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-ch11-interested-parties", "c-suit-defendants", "c-suit-motion-dismiss" ], "badges": [], "subtype": "company" }, { "id": "paul-hastings", "name": "Paul Hastings LLP", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-acq-horizon-price", "c-fdr-baker-sandor", "c-lead-paul-hastings" ], "badges": [], "subtype": "company" }, { "id": "bdo", "name": "BDO USA, P.C.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-fac-docket-financiers", "c-suit-defense-narrative", "c-gate-bdo-auditor", "c-gate-examiner-bdo", "c-gate-black-diamond" ], "badges": [ { "label": "Sued by Black Diamond funds over its First Brands audits (April 2026); BDO says the suit lacks merit", "claim_ids": [ "c-gate-black-diamond" ], "category": "CIVIL_LITIGATION", "code": "A8", "subject_id": "bdo" } ], "subtype": "company" }, { "id": "ras", "name": "Registered Agent Solutions, Inc.", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-id-lei", "c-grp-fram-florida", "c-grp-horizon-corp-gleif", "c-grp-horizon-company-gleif", "c-grp-tmd-gleif", "c-grp-bpi-gleif" ], "badges": [], "subtype": "company" }, { "id": "brake-parts-inc", "name": "Brake Parts Inc LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-debtors-brakes-wipers", "c-grp-joint-admin", "c-grp-james-signatory", "c-grp-bpi-gleif", "c-acq-brake-parts", "c-spv-jerneycic", "c-fac-katsumi-invoice", "c-sale-winddown", "c-sale-bpi-mchenry" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "champion-labs", "name": "Champion Laboratories, Inc.", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-debtors-engine-parts", "c-grp-joint-admin", "c-grp-james-signatory", "c-suit-examiner-fram-uci" ], "badges": [], "subtype": "company" }, { "id": "cardone", "name": "Cardone Industries, Inc.", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-debtors-brakes-wipers", "c-grp-joint-admin", "c-grp-common-address", "c-grp-james-signatory", "c-spv-aequum-ruling", "c-ch11-pbgc", "c-sale-winddown", "c-suit-examiner-alester", "c-lead-duster-cardone" ], "badges": [], "subtype": "company" }, { "id": "dalton", "name": "Dalton Corporation", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-debtors-brakes-wipers", "c-grp-joint-admin", "c-grp-james-signatory", "c-ch11-pbgc" ], "badges": [], "subtype": "company" }, { "id": "hopkins-mfg", "name": "Hopkins Manufacturing Corporation", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-debtors-brakes-wipers", "c-grp-james-signatory", "c-sale-winddown" ], "badges": [], "subtype": "company" }, { "id": "pylon", "name": "Pylon Manufacturing Corp.", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-debtors-brakes-wipers", "c-grp-james-signatory" ], "badges": [], "subtype": "company" }, { "id": "qualitor", "name": "Qualitor Automotive, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-debtors-brakes-wipers", "c-grp-james-signatory" ], "badges": [], "subtype": "company" }, { "id": "trico-products", "name": "Trico Products Corporation", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-debtors-brakes-wipers", "c-grp-joint-admin", "c-grp-james-signatory", "c-acq-trico-jefferies", "c-intl-ultinon-chain" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "trico-investments", "name": "Trico Investments Corporation", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-trico-limited", "c-intl-ultinon-chain" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "trico-limited", "name": "Trico Limited", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-trico-limited", "c-debt-abl", "c-debt-trico-charges", "c-lead-trico-limited-directors", "c-lead-trico-limited-2020", "c-lead-kumar-uk", "c-lead-parker-uk" ], "badges": [], "subtype": "company", "jurisdiction": "gb" }, { "id": "trico-belgium", "name": "Trico Belgium S.A.", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-debt-abl", "c-intl-ultinon-chain" ], "badges": [], "subtype": "company", "jurisdiction": "be" }, { "id": "trico-suzhou", "name": "Trico Suzhou Investments Limited", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-lead-kumar-uk", "c-lead-baker-graham-uk", "c-lead-parker-uk" ], "badges": [], "subtype": "company", "jurisdiction": "gb" }, { "id": "qualitor-uk", "name": "Qualitor Automotive UK Limited", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-lead-kumar-uk", "c-lead-baker-graham-uk" ], "badges": [], "subtype": "company", "jurisdiction": "gb" }, { "id": "horizon-global", "name": "Horizon Global Corporation", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-id-offer-brands", "c-own-offer-2023", "c-grp-debtors-horizon", "c-grp-james-signatory", "c-grp-horizon-corp-gleif", "c-acq-horizon-approach", "c-acq-horizon-price", "c-acq-jefferies-financing", "c-acq-horizon-offer", "c-acq-horizon-close", "c-sale-three-divestitures", "c-lead-horizon-board" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "horizon-global-company", "name": "Horizon Global Company LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-debtors-horizon", "c-grp-james-signatory", "c-grp-horizon-corp-gleif", "c-grp-horizon-company-gleif" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "horizon-global-americas", "name": "Horizon Global Americas Inc.", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-debtors-horizon", "c-grp-james-signatory", "c-grp-horizon-americas-gleif" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "horizon-global-digital", "name": "Horizon Global Digital Limited", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-lead-kumar-uk" ], "badges": [], "subtype": "company", "jurisdiction": "gb" }, { "id": "cp-witter", "name": "C.P. Witter Limited", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-lead-kumar-uk" ], "badges": [], "subtype": "company", "jurisdiction": "gb" }, { "id": "horizon-global-european", "name": "Horizon Global European Holdings Limited", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-lead-kumar-uk" ], "badges": [], "subtype": "company", "jurisdiction": "gb" }, { "id": "phx-merger-sub", "name": "PHX Merger Sub, Inc.", "type": "organization", "role": "", "period": "", "group": "historical", "claim_ids": [ "c-acq-horizon-offer", "c-acq-horizon-close", "c-lead-phx-officers" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "framauto", "name": "FRAMAuto Holdings, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-joint-admin", "c-grp-framauto", "c-grp-fram-florida", "c-lead-james-signatory" ], "badges": [], "subtype": "company" }, { "id": "fram-operations", "name": "FRAM Group Operations LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-joint-admin", "c-grp-james-signatory", "c-grp-fram-florida" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "fram-ip", "name": "FRAM Group IP LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-joint-admin" ], "badges": [], "subtype": "company" }, { "id": "fram-canada", "name": "FRAM Group (Canada) Inc.", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-intl-organigram", "c-intl-fram-canada", "c-intl-hopkins-canada" ], "badges": [ { "label": "Assignment in bankruptcy under the Canadian Bankruptcy and Insolvency Act (April 2026)", "claim_ids": [ "c-intl-fram-canada" ], "category": "FINANCIAL_DISTRESS", "code": "A15", "subject_id": "fram-canada" } ], "subtype": "company", "jurisdiction": "ca" }, { "id": "hopkins-canada", "name": "Hopkins Canada, Inc.", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-intl-hopkins-canada" ], "badges": [ { "label": "Assignment in bankruptcy under the Canadian Bankruptcy and Insolvency Act (May 2026)", "claim_ids": [ "c-intl-hopkins-canada" ], "category": "FINANCIAL_DISTRESS", "code": "A16", "subject_id": "hopkins-canada" } ], "subtype": "company", "jurisdiction": "ca" }, { "id": "autolite", "name": "Autolite Operations LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-debtors-engine-parts", "c-grp-joint-admin", "c-grp-james-signatory", "c-sale-winddown" ], "badges": [], "subtype": "company" }, { "id": "carter-fuel", "name": "Carter Fuel Systems, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-debtors-engine-parts", "c-grp-james-signatory" ], "badges": [], "subtype": "company" }, { "id": "uci-international", "name": "UCI International, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-debtors-uci", "c-grp-james-signatory" ], "badges": [], "subtype": "company" }, { "id": "walbro", "name": "Walbro LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-debtors-engine-parts", "c-grp-james-signatory", "c-ch11-sale-proceeds-paydown", "c-sale-walbro", "c-sale-three-divestitures" ], "badges": [], "subtype": "company" }, { "id": "tmd", "name": "Toledo Molding & Die, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-debtors-engine-parts", "c-grp-james-signatory", "c-grp-tmd-gleif", "c-ch11-sale-proceeds-paydown", "c-sale-tmd", "c-sale-three-divestitures" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "eagle-machining", "name": "Eagle Machining, LLC", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-grp-james-signatory", "c-sale-eagle-warn", "c-sale-eagle-debtor", "c-sale-eagle-local", "c-lead-kumar-remains" ], "badges": [], "subtype": "company" }, { "id": "ktri", "name": "KTRI Holdings, Inc.", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-intl-ultinon-chain", "c-intl-rescue-funding" ], "badges": [], "subtype": "company", "jurisdiction": "us" }, { "id": "ultinon-holding", "name": "Ultinon Motion Holding B.V.", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-intl-ultinon-acquisition", "c-intl-ultinon-chain", "c-intl-appointees", "c-intl-donath", "c-intl-chapter11", "c-intl-cash-factoring", "c-intl-lumileds-attachment", "c-intl-ultinon-local", "c-intl-organigram" ], "badges": [ { "label": "Chapter 11 filing of the Ultinon holding companies (March 2026); liquidation plan confirmed", "claim_ids": [ "c-intl-chapter11" ], "category": "FINANCIAL_DISTRESS", "code": "A10", "subject_id": "ultinon-holding" } ], "subtype": "company", "jurisdiction": "nl" }, { "id": "liberty-i", "name": "Liberty I B.V.", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-intl-ultinon-chain", "c-intl-rescue-funding", "c-intl-donath", "c-intl-chapter11", "c-intl-organigram" ], "badges": [ { "label": "Chapter 11 filing of the Ultinon holding companies (March 2026); liquidation plan confirmed", "claim_ids": [ "c-intl-chapter11" ], "category": "FINANCIAL_DISTRESS", "code": "A10", "subject_id": "liberty-i" } ], "subtype": "company", "jurisdiction": "nl" }, { "id": "liberty-ii", "name": "Liberty II B.V.", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-intl-ultinon-chain", "c-intl-santander", "c-intl-rescue-funding", "c-intl-donath", "c-intl-chapter11", "c-intl-organigram" ], "badges": [ { "label": "Chapter 11 filing of the Ultinon holding companies (March 2026); liquidation plan confirmed", "claim_ids": [ "c-intl-chapter11" ], "category": "FINANCIAL_DISTRESS", "code": "A10", "subject_id": "liberty-ii" } ], "subtype": "company", "jurisdiction": "nl" }, { "id": "ultinon-germany", "name": "Ultinon Motion Germany GmbH", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-intl-ultinon-chain", "c-intl-ultinon-local", "c-intl-ultinon-germany", "c-intl-ultinon-germany-register", "c-lead-ultinon-germany-mds" ], "badges": [ { "label": "German insolvency proceeding at the Aachen local court (2026); estate insufficiency notified", "claim_ids": [ "c-intl-ultinon-germany" ], "category": "FINANCIAL_DISTRESS", "code": "A11", "subject_id": "ultinon-germany" } ], "subtype": "company", "jurisdiction": "de" }, { "id": "diepersdorf", "name": "Diepersdorf Plastic Manufacturing GmbH", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-intl-de-overview", "c-intl-diepersdorf", "c-intl-diepersdorf-court", "c-intl-diepersdorf-register", "c-intl-diepersdorf-officers" ], "badges": [ { "label": "German insolvency proceeding at the Nuremberg local court (2025–2026)", "claim_ids": [ "c-intl-diepersdorf" ], "category": "FINANCIAL_DISTRESS", "code": "A12", "subject_id": "diepersdorf" } ], "subtype": "company", "jurisdiction": "de" }, { "id": "cofo", "name": "CoFo group", "type": "group", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-intl-de-overview", "c-intl-cofo" ], "badges": [ { "label": "Provisional insolvency administration ordered by the Krefeld local court (November 2025)", "claim_ids": [ "c-intl-cofo" ], "category": "FINANCIAL_DISTRESS", "code": "A13", "subject_id": "cofo" } ], "subtype": "other" }, { "id": "meteor", "name": "Meteor GmbH", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-intl-de-overview", "c-intl-meteor" ], "badges": [ { "label": "Provisional insolvency administration ordered by the Hildesheim local court (December 2025)", "claim_ids": [ "c-intl-meteor" ], "category": "FINANCIAL_DISTRESS", "code": "A14", "subject_id": "meteor" } ], "subtype": "company", "jurisdiction": "de" }, { "id": "westfalia", "name": "Westfalia-Automotive GmbH", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-intl-westfalia-press", "c-intl-westfalia-register", "c-intl-organigram" ], "badges": [], "subtype": "company", "jurisdiction": "de" }, { "id": "westfalia-holding", "name": "Westfalia-Automotive Holding GmbH", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-intl-westfalia-register" ], "badges": [], "subtype": "company", "jurisdiction": "de" }, { "id": "linden-plastic", "name": "Linden Plastic Manufacturing GmbH", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-intl-diepersdorf-court" ], "badges": [], "subtype": "company", "jurisdiction": "de" }, { "id": "smk-plastic", "name": "SMK Plastic Manufacturing GmbH", "type": "organization", "role": "", "period": "", "group": "group_companies", "claim_ids": [ "c-intl-diepersdorf-court" ], "badges": [], "subtype": "company", "jurisdiction": "de" }, { "id": "pgi-northstar", "name": "PGI Northstar LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-sale-pgi-brands", "c-sale-pgi-assets" ], "badges": [], "subtype": "company" }, { "id": "friction-one", "name": "Friction One", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-sale-brake-brands" ], "badges": [], "subtype": "company" }, { "id": "motorcar-parts", "name": "Motorcar Parts of America", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-sale-brake-brands" ], "badges": [], "subtype": "company" }, { "id": "tnj-ohio", "name": "TNJ Ohio LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-sale-tmd" ], "badges": [], "subtype": "company" }, { "id": "active-dynamics", "name": "Active Dynamics Group", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-sale-walbro" ], "badges": [], "subtype": "company" }, { "id": "overdrive-capital", "name": "Overdrive Capital, LLC", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-sale-walbro" ], "badges": [], "subtype": "company" }, { "id": "lumileds", "name": "Lumileds Holding B.V.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-intl-ultinon-acquisition", "c-intl-chapter11", "c-intl-lumileds-attachment", "c-lead-ultinon-germany-mds" ], "badges": [], "subtype": "company", "jurisdiction": "nl" }, { "id": "winning-plastics", "name": "Winning Plastics a.s.", "type": "organization", "role": "", "period": "", "group": "historical", "claim_ids": [ "c-intl-diepersdorf-officers" ], "badges": [], "subtype": "company", "jurisdiction": "cz" }, { "id": "banco-santander", "name": "Banco Santander, S.A.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-debt-refinancing", "c-intl-santander", "c-intl-rescue-funding", "c-intl-chapter11" ], "badges": [], "subtype": "company" }, { "id": "deva-capital", "name": "Deva Capital Investment Company, S.L.U.", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-ch11-former-executives-parties", "c-intl-rescue-funding" ], "badges": [], "subtype": "company" }, { "id": "calf", "name": "Crédit Agricole Leasing & Finance", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-intl-cash-factoring" ], "badges": [], "subtype": "company" }, { "id": "citibank", "name": "Citibank", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-intl-cash-factoring", "c-intl-lumileds-attachment" ], "badges": [], "subtype": "company" }, { "id": "qingdao-sunsong", "name": "Qingdao Sunsong", "type": "organization", "role": "", "period": "", "group": "counterparties", "claim_ids": [ "c-gate-house-letter" ], "badges": [], "subtype": "company", "jurisdiction": "cn" }, { "id": "tdb", "name": "TDB Restructuring Limited", "type": "organization", "role": "", "period": "", "group": "other", "claim_ids": [ "c-intl-fram-canada", "c-intl-hopkins-canada" ], "badges": [], "subtype": "company", "jurisdiction": "ca" }, { "id": "rainer-eckert", "name": "Rainer Eckert", "type": "person", "role": "", "period": "", "group": "other", "claim_ids": [ "c-intl-meteor" ], "badges": [], "subtype": "person" }, { "id": "jan-philipp-hoos", "name": "Jan-Philipp Hoos", "type": "person", "role": "", "period": "", "group": "other", "claim_ids": [ "c-intl-cofo" ], "badges": [], "subtype": "person" }, { "id": "wolfgang-piroth", "name": "Wolfgang Piroth", "type": "person", "role": "", "period": "", "group": "other", "claim_ids": [ "c-intl-ultinon-germany" ], "badges": [], "subtype": "person" }, { "id": "volker-boehm", "name": "Volker Böhm", "type": "person", "role": "", "period": "", "group": "other", "claim_ids": [ "c-intl-diepersdorf", "c-intl-diepersdorf-court" ], "badges": [], "subtype": "person" }, { "id": "katharina-franke", "name": "Katharina Franke", "type": "person", "role": "", "period": "", "group": "other", "claim_ids": [ "c-intl-diepersdorf-court" ], "badges": [], "subtype": "person" }, { "id": "tomasz-sgaslik", "name": "Tomasz Marcin Sgaslik", "type": "person", "role": "", "period": "", "group": "other", "claim_ids": [ "c-intl-westfalia-register" ], "badges": [], "subtype": "person" }, { "id": "jame-donath", "name": "Jame Donath", "type": "person", "role": "", "period": "", "group": "other", "claim_ids": [ "c-intl-donath" ], "badges": [], "subtype": "person" } ], "edges": [ { "id": "r-viceroy-carnaby-holdings", "from": "viceroy", "to": "carnaby-holdings", "role": "Owns, directly or indirectly, 100% of the membership interests", "period": "as of the September 2025 petitions", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-spv-silo" ], "kind": "owns" }, { "id": "r-fbgi-fbg", "from": "fbgi", "to": "fbg", "role": "Sole member, holding 100% of the units", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-chain-to-fbg" ], "kind": "owns" }, { "id": "r-viceroy-fbgh", "from": "viceroy", "to": "fbgh", "role": "Holder of 66% of the membership interests; pledged 15% of its interests to Onset in June 2025", "period": "As of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-fbgh-holders", "c-spv-onset-forbearance-third" ], "kind": "owns" }, { "id": "r-bph-fbgh", "from": "bph", "to": "fbgh", "role": "Holder of 33% of the membership interests", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-fbgh-holders" ], "kind": "owns" }, { "id": "r-aztec-fbgh", "from": "aztec", "to": "fbgh", "role": "Holder of 1% of the membership interests", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-fbgh-holders" ], "kind": "owns" }, { "id": "r-fbgh-fbgi", "from": "fbgh", "to": "fbgi", "role": "Owner of 100% of the membership interests", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-chain-to-fbg" ], "kind": "owns" }, { "id": "r-mayfair-viceroy", "from": "mayfair", "to": "viceroy", "role": "Owner of 100% of the membership interests", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-mayfair-viceroy" ], "kind": "owns" }, { "id": "r-patrick-james-fbg", "from": "patrick-james", "to": "fbg", "role": "Founder and sole ultimate owner, holding the company indirectly through the holding companies (described by the debtors as controlling shareholder)", "period": "Stated in filings from January 2023 to November 2025", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-offer-2023", "c-own-ec-notification", "c-own-complaint", "c-own-cro-testimony", "c-crim-owner-proceeds", "c-lead-james-resignation" ], "kind": "owns" }, { "id": "r-patrick-james-fbg-2", "from": "patrick-james", "to": "fbg", "role": "Founder, chairman, chief executive officer (styled president and chief executive officer) and manager on the board of managers", "period": "2013 to October 12–13, 2025 (resigned from all group positions)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-own-offer-2023", "c-gate-house-letter", "c-crim-defendants", "c-lead-boards-2025", "c-lead-filing-consent", "c-lead-james-resignation", "c-lead-officers-petition", "c-lead-james-signatory", "c-lead-officers-2023" ], "kind": "directs" }, { "id": "r-patrick-james-mayfair", "from": "patrick-james", "to": "mayfair", "role": "Direct owner of the equity holder, as reported from the debtors' organisation chart", "period": "as of October 2025", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-direct-holders" ], "kind": "owns" }, { "id": "r-patrick-james-aztec", "from": "patrick-james", "to": "aztec", "role": "Direct owner of the equity holder, as reported from the debtors' organisation chart", "period": "as of October 2025", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-direct-holders" ], "kind": "owns" }, { "id": "r-patrick-james-bph", "from": "patrick-james", "to": "bph", "role": "Direct owner of the equity holder, as reported from the debtors' organisation chart", "period": "as of October 2025", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-direct-holders" ], "kind": "owns" }, { "id": "r-patrick-james-fbgh", "from": "patrick-james", "to": "fbgh", "role": "Owner, as described by counsel for Patrick James (held through the intermediate holders)", "period": "as stated in December 2025", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-counsel-holdings" ], "kind": "owns" }, { "id": "r-fbg-ras", "from": "fbg", "to": "ras", "role": "Uses Registered Agent Solutions, Inc. as registered agent; legal address in Dover, Delaware", "period": "as recorded in the LEI record last updated October 18, 2025", "status": "documented", "direction": "directed", "role_group": "infrastructure", "temporal_status": "unknown", "claim_ids": [ "c-id-lei" ], "kind": "other" }, { "id": "r-fbg-phx-merger-sub", "from": "fbg", "to": "phx-merger-sub", "role": "Sole owner of the acquisition subsidiary formed for the Horizon Global offer", "period": "December 16, 2022 – February 8, 2023", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "historical", "claim_ids": [ "c-acq-horizon-offer" ], "kind": "owns" }, { "id": "r-fbg-horizon-global", "from": "fbg", "to": "horizon-global", "role": "Acquirer of Horizon Global Corporation through a tender offer and merger", "period": "July 2022 – February 8, 2023", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-acq-horizon-approach", "c-acq-horizon-price", "c-acq-horizon-offer" ], "kind": "business" }, { "id": "r-fbg-horizon-global-2", "from": "fbg", "to": "horizon-global", "role": "Sole owner; Horizon Global Corporation became its wholly owned subsidiary", "period": "from February 8, 2023", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-acq-horizon-close" ], "kind": "owns" }, { "id": "r-phx-merger-sub-horizon-global", "from": "phx-merger-sub", "to": "horizon-global", "role": "Merged into Horizon Global Corporation, which survived the merger", "period": "February 8, 2023", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "historical", "claim_ids": [ "c-acq-horizon-close" ], "kind": "owns" }, { "id": "r-fbg-framauto", "from": "fbg", "to": "framauto", "role": "Sole member and owner of 100%", "period": "As of the September 2025 filing", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-grp-framauto", "c-lead-james-signatory" ], "kind": "owns" }, { "id": "r-framauto-fram-operations", "from": "framauto", "to": "fram-operations", "role": "Member and authorized person of the LLC (Florida foreign-LLC record)", "period": "listed at the Cleveland address from January 23, 2023; Florida registration revoked September 25, 2026", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-grp-fram-florida" ], "kind": "owns" }, { "id": "r-fram-operations-ras", "from": "fram-operations", "to": "ras", "role": "Uses Registered Agent Solutions, Inc. as registered agent; legal address in Dover, Delaware", "period": "Florida registered agent; agent name changed January 23, 2023", "status": "documented", "direction": "directed", "role_group": "infrastructure", "temporal_status": "unknown", "claim_ids": [ "c-grp-fram-florida" ], "kind": "other" }, { "id": "r-jefferies-llc-fbg", "from": "jefferies-llc", "to": "fbg", "role": "Provider of financing services in five transactions since 2020; permitted by Horizon to finance the Horizon acquisition", "period": "2020 – January 2023", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-acq-jefferies-financing" ], "kind": "business" }, { "id": "r-paul-hastings-fbg", "from": "paul-hastings", "to": "fbg", "role": "Legal counsel in negotiating the Horizon Global merger agreement", "period": "November – December 2022", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-acq-horizon-price" ], "kind": "business" }, { "id": "r-trico-investments-trico-limited", "from": "trico-investments", "to": "trico-limited", "role": "Person with significant control: 75% or more of shares and voting rights and the right to appoint or remove directors", "period": "notified April 6, 2016; shown as active in the register", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "current", "claim_ids": [ "c-grp-trico-limited" ], "kind": "owns" }, { "id": "r-brake-parts-inc-fbg", "from": "brake-parts-inc", "to": "fbg", "role": "Affiliated co-debtor of First Brands Group, LLC in the jointly administered Chapter 11 cases (lead case No. 25-90399)", "period": "from September 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-grp-joint-admin", "c-grp-debtors-brakes-wipers" ], "kind": "legal" }, { "id": "r-horizon-global-fbg", "from": "horizon-global", "to": "fbg", "role": "Affiliated co-debtor of First Brands Group, LLC in the jointly administered Chapter 11 cases (lead case No. 25-90399)", "period": "from September 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-horizon" ], "kind": "legal" }, { "id": "r-trico-products-fbg", "from": "trico-products", "to": "fbg", "role": "Affiliated co-debtor of First Brands Group, LLC in the jointly administered Chapter 11 cases (lead case No. 25-90399)", "period": "from September 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-grp-joint-admin", "c-grp-debtors-brakes-wipers" ], "kind": "legal" }, { "id": "r-fram-ip-fbg", "from": "fram-ip", "to": "fbg", "role": "Affiliated co-debtor of First Brands Group, LLC in the jointly administered Chapter 11 cases (lead case No. 25-90399)", "period": "from September 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-grp-joint-admin" ], "kind": "legal" }, { "id": "r-champion-labs-fbg", "from": "champion-labs", "to": "fbg", "role": "Affiliated co-debtor of First Brands Group, LLC in the jointly administered Chapter 11 cases (lead case No. 25-90399)", "period": "from September 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-grp-joint-admin", "c-grp-debtors-engine-parts" ], "kind": "legal" }, { "id": "r-walbro-fbg", "from": "walbro", "to": "fbg", "role": "Affiliated co-debtor of First Brands Group, LLC in the jointly administered Chapter 11 cases (lead case No. 25-90399)", "period": "from September 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-engine-parts" ], "kind": "legal" }, { "id": "r-tmd-fbg", "from": "tmd", "to": "fbg", "role": "Affiliated co-debtor of First Brands Group, LLC in the jointly administered Chapter 11 cases (lead case No. 25-90399)", "period": "from September 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-engine-parts" ], "kind": "legal" }, { "id": "r-horizon-global-company-fbg", "from": "horizon-global-company", "to": "fbg", "role": "Affiliated co-debtor of First Brands Group, LLC in the jointly administered Chapter 11 cases (lead case No. 25-90399)", "period": "from September 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-horizon" ], "kind": "legal" }, { "id": "r-autolite-fbg", "from": "autolite", "to": "fbg", "role": "Affiliated co-debtor of First Brands Group, LLC in the jointly administered Chapter 11 cases (lead case No. 25-90399)", "period": "from September 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-grp-joint-admin", "c-grp-debtors-engine-parts" ], "kind": "legal" }, { "id": "r-carter-fuel-fbg", "from": "carter-fuel", "to": "fbg", "role": "Affiliated co-debtor of First Brands Group, LLC in the jointly administered Chapter 11 cases (lead case No. 25-90399)", "period": "from September 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-engine-parts" ], "kind": "legal" }, { "id": "r-uci-international-fbg", "from": "uci-international", "to": "fbg", "role": "Affiliated co-debtor of First Brands Group, LLC in the jointly administered Chapter 11 cases (lead case No. 25-90399)", "period": "from September 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-uci" ], "kind": "legal" }, { "id": "r-fbgh-champion-labs", "from": "fbgh", "to": "champion-labs", "role": "Owns, directly or indirectly, 100% (consolidated corporate ownership statement)", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-engine-parts" ], "kind": "owns" }, { "id": "r-fbgh-walbro", "from": "fbgh", "to": "walbro", "role": "Owns, directly or indirectly, 100% (consolidated corporate ownership statement)", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-engine-parts" ], "kind": "owns" }, { "id": "r-fbgh-tmd", "from": "fbgh", "to": "tmd", "role": "Owns, directly or indirectly, 100% (consolidated corporate ownership statement)", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-engine-parts" ], "kind": "owns" }, { "id": "r-fbgh-autolite", "from": "fbgh", "to": "autolite", "role": "Owns, directly or indirectly, 100% (consolidated corporate ownership statement)", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-engine-parts" ], "kind": "owns" }, { "id": "r-fbgh-carter-fuel", "from": "fbgh", "to": "carter-fuel", "role": "Owns, directly or indirectly, 100% (consolidated corporate ownership statement)", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-engine-parts" ], "kind": "owns" }, { "id": "r-fbgh-uci-international", "from": "fbgh", "to": "uci-international", "role": "Owns, directly or indirectly, 100% (consolidated corporate ownership statement)", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-uci" ], "kind": "owns" }, { "id": "r-fbgh-trico-products", "from": "fbgh", "to": "trico-products", "role": "Owns, directly or indirectly, 100% (consolidated corporate ownership statement)", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-brakes-wipers" ], "kind": "owns" }, { "id": "r-fbgh-cardone", "from": "fbgh", "to": "cardone", "role": "Owns, directly or indirectly, 100% (consolidated corporate ownership statement)", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-brakes-wipers" ], "kind": "owns" }, { "id": "r-fbgh-hopkins-mfg", "from": "fbgh", "to": "hopkins-mfg", "role": "Owns, directly or indirectly, 100% (consolidated corporate ownership statement)", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-brakes-wipers" ], "kind": "owns" }, { "id": "r-fbgh-pylon", "from": "fbgh", "to": "pylon", "role": "Owns, directly or indirectly, 100% (consolidated corporate ownership statement)", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-brakes-wipers" ], "kind": "owns" }, { "id": "r-fbgh-qualitor", "from": "fbgh", "to": "qualitor", "role": "Owns, directly or indirectly, 100% (consolidated corporate ownership statement)", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-brakes-wipers" ], "kind": "owns" }, { "id": "r-patrick-james-brake-parts-inc", "from": "patrick-james", "to": "brake-parts-inc", "role": "Manager; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-fram-operations", "from": "patrick-james", "to": "fram-operations", "role": "Manager; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-autolite", "from": "patrick-james", "to": "autolite", "role": "Manager; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-horizon-global-company", "from": "patrick-james", "to": "horizon-global-company", "role": "Manager; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-carter-fuel", "from": "patrick-james", "to": "carter-fuel", "role": "Manager; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-uci-international", "from": "patrick-james", "to": "uci-international", "role": "Manager; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-walbro", "from": "patrick-james", "to": "walbro", "role": "Manager; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-tmd", "from": "patrick-james", "to": "tmd", "role": "Manager; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-tmd-ras", "from": "tmd", "to": "ras", "role": "Uses Registered Agent Solutions, Inc. as registered agent; legal address in Dover, Delaware", "period": "as recorded in the LEI record updated July 24, 2026", "status": "documented", "direction": "directed", "role_group": "infrastructure", "temporal_status": "unknown", "claim_ids": [ "c-grp-tmd-gleif" ], "kind": "other" }, { "id": "r-horizon-global-company-ras", "from": "horizon-global-company", "to": "ras", "role": "Uses Registered Agent Solutions, Inc. as registered agent; legal address in Dover, Delaware", "period": "as recorded in the LEI record updated July 2, 2026", "status": "documented", "direction": "directed", "role_group": "infrastructure", "temporal_status": "unknown", "claim_ids": [ "c-grp-horizon-company-gleif" ], "kind": "other" }, { "id": "r-horizon-global-ras", "from": "horizon-global", "to": "ras", "role": "Uses Registered Agent Solutions, Inc. as registered agent; legal address in Dover, Delaware", "period": "as recorded in the LEI record updated July 24, 2026", "status": "documented", "direction": "directed", "role_group": "infrastructure", "temporal_status": "unknown", "claim_ids": [ "c-grp-horizon-corp-gleif" ], "kind": "other" }, { "id": "r-horizon-global-horizon-global-company", "from": "horizon-global", "to": "horizon-global-company", "role": "Direct parent (GLEIF relationship record)", "period": "as recorded in July 2026", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-grp-horizon-corp-gleif" ], "kind": "owns" }, { "id": "r-stephen-graham-fbg", "from": "stephen-graham", "to": "fbg", "role": "Chief financial officer and manager on the board of managers", "period": "April 2014 to October 30, 2025 (stopped working September 22, 2025)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-acq-horizon-approach", "c-crim-graham-plea", "c-lead-boards-2025", "c-lead-filing-consent", "c-lead-departures-oct", "c-lead-officers-petition", "c-lead-officers-2023" ], "kind": "directs" }, { "id": "r-fbg-brake-parts-inc", "from": "fbg", "to": "brake-parts-inc", "role": "Group parent; reported to have bought Brake Parts Inc. for about $510 million", "period": "From July 2020 (reported)", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-acq-brake-parts", "c-sale-bpi-mchenry" ], "kind": "owns" }, { "id": "r-patrick-james-gt-partners", "from": "patrick-james", "to": "gt-partners", "role": "Ultimate owner", "period": "as stated in the February 2025 merger notification", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-ec-notification" ], "kind": "owns" }, { "id": "r-gt-partners-gt-sarl", "from": "gt-partners", "to": "gt-sarl", "role": "Sole shareholder (100%)", "period": "As stated in the February 2025 merger notification", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-ec-notification", "c-fdr-novares-notification" ], "kind": "owns" }, { "id": "r-viceroy-broad-street-holdings", "from": "viceroy", "to": "broad-street-holdings", "role": "Owns, directly or indirectly, 100% of the membership interests", "period": "as of the September 2025 petitions", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-spv-silo" ], "kind": "owns" }, { "id": "r-viceroy-broad-street", "from": "viceroy", "to": "broad-street", "role": "Owns, directly or indirectly, 100% of the membership interests", "period": "as of the September 2025 petitions", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-spv-silo" ], "kind": "owns" }, { "id": "r-viceroy-carnaby-fa", "from": "viceroy", "to": "carnaby-fa", "role": "Owns, directly or indirectly, 100% of the membership interests", "period": "as of the September 2025 petitions", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-spv-silo" ], "kind": "owns" }, { "id": "r-viceroy-carnaby-ii", "from": "viceroy", "to": "carnaby-ii", "role": "Owns, directly or indirectly, 100% of the membership interests", "period": "as of the September 2025 petitions", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-spv-silo" ], "kind": "owns" }, { "id": "r-viceroy-carnaby-iii", "from": "viceroy", "to": "carnaby-iii", "role": "Owns, directly or indirectly, 100% of the membership interests", "period": "as of the September 2025 petitions", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-spv-silo" ], "kind": "owns" }, { "id": "r-viceroy-carnaby-iv", "from": "viceroy", "to": "carnaby-iv", "role": "Owns, directly or indirectly, 100% of the membership interests", "period": "as of the September 2025 petitions", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-spv-silo" ], "kind": "owns" }, { "id": "r-viceroy-global-assets-gmbh", "from": "viceroy", "to": "global-assets-gmbh", "role": "Owns, directly or indirectly, 100% of the membership interests", "period": "as of the September 2025 petitions", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-spv-silo" ], "kind": "owns" }, { "id": "r-viceroy-global-assets-llc", "from": "viceroy", "to": "global-assets-llc", "role": "Owns, directly or indirectly, 100% of the membership interests", "period": "as of the September 2025 petitions", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-spv-silo" ], "kind": "owns" }, { "id": "r-viceroy-patterson", "from": "viceroy", "to": "patterson", "role": "Owns, directly or indirectly, 100% of the membership interests", "period": "as of the September 2025 petitions", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-spv-silo" ], "kind": "owns" }, { "id": "r-viceroy-starlight", "from": "viceroy", "to": "starlight", "role": "Owns, directly or indirectly, 100% of the membership interests", "period": "as of the September 2025 petitions", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-own-spv-silo" ], "kind": "owns" }, { "id": "r-fbgh-dalton", "from": "fbgh", "to": "dalton", "role": "Owns, directly or indirectly, 100% (consolidated corporate ownership statement)", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-brakes-wipers" ], "kind": "owns" }, { "id": "r-fbgh-brake-parts-inc", "from": "fbgh", "to": "brake-parts-inc", "role": "Owns, directly or indirectly, 100% (consolidated corporate ownership statement)", "period": "as of the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-grp-debtors-brakes-wipers" ], "kind": "owns" }, { "id": "r-patrick-james-pylon", "from": "patrick-james", "to": "pylon", "role": "Sole director; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-trico-products", "from": "patrick-james", "to": "trico-products", "role": "Sole director; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-cardone", "from": "patrick-james", "to": "cardone", "role": "Sole director; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-champion-labs", "from": "patrick-james", "to": "champion-labs", "role": "Sole director; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-hopkins-mfg", "from": "patrick-james", "to": "hopkins-mfg", "role": "Sole director; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-horizon-global", "from": "patrick-james", "to": "horizon-global", "role": "Sole director; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-horizon-global-americas", "from": "patrick-james", "to": "horizon-global-americas", "role": "Sole director; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-dalton", "from": "patrick-james", "to": "dalton", "role": "Sole director; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-qualitor", "from": "patrick-james", "to": "qualitor", "role": "Manager; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-eagle-machining", "from": "patrick-james", "to": "eagle-machining", "role": "Manager; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-carnaby-iv", "from": "patrick-james", "to": "carnaby-iv", "role": "Manager; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-patrick-james-carnaby-fa", "from": "patrick-james", "to": "carnaby-fa", "role": "Manager; signed the omnibus consent authorizing the Chapter 11 filing", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-grp-james-signatory" ], "kind": "directs" }, { "id": "r-jefferies-llc-horizon-global", "from": "jefferies-llc", "to": "horizon-global", "role": "Financial adviser in its 2022 strategic review and sale", "period": "July 2022 – February 2023", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-acq-horizon-approach" ], "kind": "business" }, { "id": "r-jefferies-fg-trico-products", "from": "jefferies-fg", "to": "trico-products", "role": "Reported lender for Patrick James's 2014 acquisition of Trico Products", "period": "2014", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-acq-trico-jefferies" ], "kind": "business" }, { "id": "r-patrick-james-trico-products-2", "from": "patrick-james", "to": "trico-products", "role": "Reported acquirer (2014)", "period": "2014", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-acq-trico-jefferies" ], "kind": "business" }, { "id": "r-viceroy-onset", "from": "viceroy", "to": "onset", "role": "Pledgor of 15% of its membership interests in First Brands Group Holdings, LLC to Onset under the third Onset forbearance", "period": "from June 30, 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-onset-forbearance-third" ], "kind": "business" }, { "id": "r-patrick-james-bowery-finance", "from": "patrick-james", "to": "bowery-finance", "role": "Owner and controller of Bowery Finance II, a non-debtor entity outside the First Brands group (as alleged by the debtors and stated by the bankruptcy judge in a 2026 ruling)", "period": "2022–2025 (period of the alleged account flows)", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-spv-bowery-complaint", "c-spv-bowery-kirschner", "c-spv-aequum-ruling" ], "kind": "owns" }, { "id": "r-onset-fbg", "from": "onset", "to": "fbg", "role": "Sale-leaseback financier of the group through the Carnaby SPV lessees and creditor (Onset says it funded nearly $3 billion from 2018 to 2025 and was owed at least $2.17 billion)", "period": "From June 28, 2022 under the master leases (Onset dates its funding from 2018); claim asserted in the Chapter 11 cases", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-spv-onset-mechanism", "c-spv-onset-position", "c-spv-james-defense-lenders", "c-suit-onset-proceeds" ], "kind": "business" }, { "id": "r-fbg-bank-of-america", "from": "fbg", "to": "bank-of-america", "role": "Lead borrower under the ABL Credit Agreement of February 2, 2018; Bank of America, N.A. is administrative and collateral agent (successor to Goldman Sachs Bank USA)", "period": "from February 2, 2018 (agent at the September 2025 petition date)", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-abl", "c-debt-abl-forbearance", "c-spv-evolution-collateral" ], "kind": "business" }, { "id": "r-fbg-trico-limited", "from": "fbg", "to": "trico-limited", "role": "Co-borrowers under the ABL Credit Agreement of February 2, 2018 (First Brands Group, LLC as lead borrower, Trico Limited as borrower)", "period": "from February 2, 2018", "status": "documented", "direction": "undirected", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-abl" ], "kind": "business" }, { "id": "r-fbg-trico-belgium", "from": "fbg", "to": "trico-belgium", "role": "Co-borrowers under the ABL Credit Agreement of February 2, 2018 (First Brands Group, LLC as lead borrower, Trico Belgium SA as borrower)", "period": "from February 2, 2018", "status": "documented", "direction": "undirected", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-abl" ], "kind": "business" }, { "id": "r-fbg-jefferies-finance", "from": "fbg", "to": "jefferies-finance", "role": "Borrower under the First Lien Term Loan Agreement of February 2, 2018; Jefferies Finance LLC is administrative and collateral agent", "period": "From February 2, 2018 (agent at the September 2025 petition date)", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-first-lien", "c-ch11-dip-prepetition-first-lien" ], "kind": "business" }, { "id": "r-fbg-sagard-hm", "from": "fbg", "to": "sagard-hm", "role": "Borrower under the side-car first-lien term loan agreement of June 16, 2025; Sagard Holdings Manager (US) LLC is Sagard administrative agent", "period": "from June 16, 2025; accelerated September 24, 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-sidecar" ], "kind": "business" }, { "id": "r-fbg-glas-usa", "from": "fbg", "to": "glas-usa", "role": "Borrower under the side-car first-lien term loan agreement of June 16, 2025; GLAS USA LLC is GLAS administrative agent and collateral agent", "period": "from June 16, 2025; accelerated September 24, 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-sidecar" ], "kind": "business" }, { "id": "r-broad-street-aequum", "from": "broad-street", "to": "aequum", "role": "Borrower under a $45 million asset-based revolving credit agreement of March 28, 2024; Aequum Capital Financial II, LLC is administrative and collateral agent", "period": "from March 28, 2024", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-aequum", "c-spv-aequum-ruling" ], "kind": "business" }, { "id": "r-broad-street-holdings-broad-street", "from": "broad-street-holdings", "to": "broad-street", "role": "Guarantor of Broad Street Financial, LLC's obligations under the Aequum facility, with a lien on all its assets", "period": "from March 28, 2024", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-aequum" ], "kind": "business" }, { "id": "r-viceroy-broad-street-2", "from": "viceroy", "to": "broad-street", "role": "Obliged to buy inventory that Broad Street Financial sells back to the debtors when no other debtor buys it (Aequum facility)", "period": "from March 28, 2024", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-aequum" ], "kind": "business" }, { "id": "r-global-assets-llc-umb-bank", "from": "global-assets-llc", "to": "umb-bank", "role": "U.S. borrower under the $45 million Global Assets credit agreement of December 2, 2024; UMB Bank, N.A. is administrative and collateral agent", "period": "from December 2, 2024", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-global-assets" ], "kind": "business" }, { "id": "r-global-assets-llc-global-assets-gmbh", "from": "global-assets-llc", "to": "global-assets-gmbh", "role": "Co-borrowers under the Global Assets credit agreement of December 2, 2024", "period": "from December 2, 2024", "status": "documented", "direction": "undirected", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-global-assets" ], "kind": "business" }, { "id": "r-carnaby-holdings-global-assets-llc", "from": "carnaby-holdings", "to": "global-assets-llc", "role": "Guarantor of the Global Assets borrowers' obligations under the UMB facility, with a lien on its assets", "period": "from December 2, 2024", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-global-assets" ], "kind": "business" }, { "id": "r-carnaby-ii-glas-trust", "from": "carnaby-ii", "to": "glas-trust", "role": "Borrower under the $60 million CarVal II credit agreement of May 31, 2022; GLAS Trust Company LLC is administrative agent", "period": "from May 31, 2022", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-carval-ii" ], "kind": "business" }, { "id": "r-fbgh-carnaby-ii", "from": "fbgh", "to": "carnaby-ii", "role": "Guarantor of Carnaby Inventory II's obligations under the CarVal II facility", "period": "from May 31, 2022", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-carval-ii" ], "kind": "business" }, { "id": "r-carnaby-iii-glas-trust", "from": "carnaby-iii", "to": "glas-trust", "role": "Borrower under the $100 million CarVal III credit agreement of July 6, 2022; GLAS Trust Company LLC is administrative agent", "period": "from July 6, 2022", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-carval-iii" ], "kind": "business" }, { "id": "r-fbgh-carnaby-iii", "from": "fbgh", "to": "carnaby-iii", "role": "Guarantor of Carnaby Inventory III's obligations under the CarVal III facility", "period": "from July 6, 2022", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-carval-iii" ], "kind": "business" }, { "id": "r-patterson-evolution-fund", "from": "patterson", "to": "evolution-fund", "role": "Borrower under an uncommitted inventory finance agreement of November 9, 2023 (advances of up to $150 million); Evolution Credit Opportunity Master Fund II-B, L.P. is lender", "period": "from November 9, 2023", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-evolution" ], "kind": "business" }, { "id": "r-carnaby-iv-onset", "from": "carnaby-iv", "to": "onset", "role": "Lessee under Master Lease Agreement No. OFI1445416 of June 28, 2022 with Onset Financial, Inc.", "period": "from June 28, 2022; forbearances May–June 2025; default notice September 9, 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-onset-leases", "c-spv-onset-forbearance-early", "c-spv-onset-forbearance-third" ], "kind": "business" }, { "id": "r-carnaby-fa-onset", "from": "carnaby-fa", "to": "onset", "role": "Lessee under Master Lease Agreement No. OFI1545465 of October 24, 2023 with Onset Financial, Inc.", "period": "from October 24, 2023; forbearances May–June 2025; default notice September 9, 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-onset-leases", "c-spv-onset-forbearance-early", "c-spv-onset-forbearance-third", "c-spv-kirschner-onset" ], "kind": "business" }, { "id": "r-southstate-fbg", "from": "southstate", "to": "fbg", "role": "Supply-chain-finance creditor (unsecured claim of $22.8 million listed with the petition) that set off about $27 million in a company account against about $30 million it said was owed", "period": "Claim listed September 2025; setoff September 23, 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-debt-southstate", "c-fac-top-creditors-scf" ], "kind": "business" }, { "id": "r-fbg-jefferies-finance-2", "from": "fbg", "to": "jefferies-finance", "role": "Borrower under the Second Lien Term Loan Agreement of February 26, 2019; Jefferies Finance LLC is administrative and collateral agent", "period": "from February 26, 2019 (agent at the September 2025 petition date)", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-second-lien" ], "kind": "business" }, { "id": "r-fbg-goldman-sachs-bank", "from": "fbg", "to": "goldman-sachs-bank", "role": "Borrower under the ABL Credit Agreement of February 2, 2018, of which Goldman Sachs Bank USA was the original administrative and collateral agent before Bank of America succeeded it", "period": "from February 2, 2018 until succeeded (date not stated)", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-debt-abl" ], "kind": "business" }, { "id": "r-palmer-square-fbg", "from": "palmer-square", "to": "fbg", "role": "Lender: held a first-lien and a second-lien senior secured loan to First Brands Group, LLC listed in its July 2024 prospectus", "period": "as of the prospectus filed July 23, 2024", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-palmer-square" ], "kind": "business" }, { "id": "r-jefferies-finance-fbg", "from": "jefferies-finance", "to": "fbg", "role": "Manager, through its subsidiary Apex Credit Partners, of CLOs holding $48 million principal of First Brands term loans and participating in $8.8 million of the DIP financing", "period": "as stated by Jefferies in October 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-jefferies-letter" ], "kind": "business" }, { "id": "r-fbg-broad-street", "from": "fbg", "to": "broad-street", "role": "Seller of inventory to Broad Street Financial, LLC under the Aequum facility structure", "period": "from March 28, 2024", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-aequum" ], "kind": "business" }, { "id": "r-trico-limited-bank-of-america", "from": "trico-limited", "to": "bank-of-america", "role": "Chargor: three outstanding charges registered at Companies House in favour of Bank of America, N.A. (created November 12, 2018, January 3, 2019 and July 31, 2020)", "period": "from November 12, 2018", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-trico-charges" ], "kind": "business" }, { "id": "r-trico-limited-goldman-sachs-bank", "from": "trico-limited", "to": "goldman-sachs-bank", "role": "Chargor: charge created February 2, 2018 in favour of Goldman Sachs Bank USA as security trustee", "period": "February 2, 2018 – September 29, 2022 (satisfied)", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-debt-trico-charges" ], "kind": "business" }, { "id": "r-marathon-fbg", "from": "marathon", "to": "fbg", "role": "Holder of First Brands debt (more than $280 million, citing a filing) (press report, October 2025)", "period": "as reported in October 2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-private-credit" ], "kind": "business" }, { "id": "r-monroe-fbg", "from": "monroe", "to": "fbg", "role": "Holder of First Brands debt (press report, October 2025)", "period": "as reported in October 2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-private-credit" ], "kind": "business" }, { "id": "r-antares-fbg", "from": "antares", "to": "fbg", "role": "Holder of First Brands debt (press report, October 2025)", "period": "as reported in October 2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-private-credit" ], "kind": "business" }, { "id": "r-sagard-fbg", "from": "sagard", "to": "fbg", "role": "Holder of First Brands debt (press report, October 2025)", "period": "as reported in October 2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-private-credit" ], "kind": "business" }, { "id": "r-varde-fbg", "from": "varde", "to": "fbg", "role": "Holder of First Brands debt (press report, October 2025)", "period": "as reported in October 2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-private-credit" ], "kind": "business" }, { "id": "r-sycamore-tree-fbg", "from": "sycamore-tree", "to": "fbg", "role": "Holder of First Brands debt (press report, October 2025)", "period": "as reported in October 2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-private-credit" ], "kind": "business" }, { "id": "r-alcentra-fbg", "from": "alcentra", "to": "fbg", "role": "Holder of First Brands debt (press report, October 2025)", "period": "as reported in October 2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-private-credit" ], "kind": "business" }, { "id": "r-pemberton-fbg", "from": "pemberton", "to": "fbg", "role": "Private credit firm reported to be exposed to First Brands through off-balance-sheet financing structures (press report citing Fitch Ratings, October 2025)", "period": "as reported in October 2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-private-credit-exposure" ], "kind": "business" }, { "id": "r-evolution-cp-fbg", "from": "evolution-cp", "to": "fbg", "role": "Factor and off-balance-sheet financier: bought rights to First Brands customer receivables and asserts a first-lien interest in about $60.5 million of them, which First Brands disputes", "period": "Before the September 2025 petition; lien dispute 2025–2026", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-spv-private-credit-exposure", "c-fac-factor-creditors", "c-fac-evolution-lien", "c-fac-factored-account", "c-fac-evolution-perfection" ], "kind": "business" }, { "id": "r-patterson-brake-parts-inc", "from": "patterson", "to": "brake-parts-inc", "role": "Inventory purchaser from Brake Parts Inc under the Evolution facility; the co-chief restructuring officer said funds paid to the SPVs were round-tripped back to Brake Parts Inc through a James-controlled entity", "period": "from November 9, 2023 (facility date) to 2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-spv-jerneycic" ], "kind": "business" }, { "id": "r-evolution-cp-fbg-2", "from": "evolution-cp", "to": "fbg", "role": "Creditor and litigant against the debtors: sought a Chapter 11 trustee, disputed SPV collateral, appealed cash-collateral rulings, sued over factored receivables and sought conversion and turnover", "period": "October 2025 – July 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "historical", "claim_ids": [ "c-spv-evolution-collateral", "c-spv-evolution-chapter7", "c-fac-factored-account", "c-fac-evolution-remand", "c-fac-evolution-perfection", "c-ch11-early-motions", "c-ch11-spv-conversion-evolution" ], "kind": "legal" }, { "id": "r-blackrock-clo-fbg", "from": "blackrock-clo", "to": "fbg", "role": "Holder of a position in the 2023 euro incremental term loan of First Brands Group, LLC (LoanX ID LX218476)", "period": "as of the payment date report of July 8, 2026", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-debt-blackrock-clo" ], "kind": "business" }, { "id": "r-bank-of-america-aequum", "from": "bank-of-america", "to": "aequum", "role": "Plaintiff in an adversary proceeding against Aequum Capital Financial II, LLC over collateral stored in a Cardone warehouse; ownership left for trial", "period": "from 2026; interim ruling June 2026", "status": "reported", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-spv-aequum-ruling" ], "kind": "legal" }, { "id": "r-aequum-bowery-finance", "from": "aequum", "to": "bowery-finance", "role": "Funds extended by Aequum went to Bowery Finance rather than to First Brands for the collateral, according to the bankruptcy judge", "period": "before the September 2025 filing (as stated in a June 2026 ruling)", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-spv-aequum-ruling" ], "kind": "business" }, { "id": "r-umb-bank-fbg", "from": "umb-bank", "to": "fbg", "role": "Movant in an emergency motion asserting that the debtors' advisers abandoned SPE property and diverted DIP funding to the Ultinon business", "period": "during the Chapter 11 cases (date not stated in the summary)", "status": "reported", "direction": "directed", "role_group": "legal", "temporal_status": "historical", "claim_ids": [ "c-spv-umb-motion" ], "kind": "legal" }, { "id": "r-raistone-fbg", "from": "raistone", "to": "fbg", "role": "Factoring and supply-chain-finance provider; creditor listed for factoring agreements and supply chain finance", "period": "Before the September 2025 petition; creditor in the Chapter 11 case", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-fac-top-creditors", "c-fac-factor-creditors", "c-fac-docket-financiers", "c-fac-raistone-oconnor" ], "kind": "business" }, { "id": "r-cit-group-fbg", "from": "cit-group", "to": "fbg", "role": "Supply-chain-finance creditor, unsecured claim of $84,370,311.72 listed with the petition", "period": "September 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-fac-top-creditors" ], "kind": "business" }, { "id": "r-katsumi-fbg", "from": "katsumi", "to": "fbg", "role": "Factor that bought First Brands receivables; creditor listed for factoring agreements", "period": "Purchases from 2023 (per the debtors' expert) until 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-fac-factor-creditors", "c-fac-katsumi-invoice", "c-fac-katsumi-exposure", "c-fac-katsumi-kirschner" ], "kind": "business" }, { "id": "r-leucadia-fbg", "from": "leucadia", "to": "fbg", "role": "Factor (Trade Finance Group) buying First Brands receivables; creditor listed for factoring agreements", "period": "Reported from 2019 until 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-fac-factor-creditors", "c-fac-point-bonita-receivables", "c-fac-leucadia-kirschner" ], "kind": "business" }, { "id": "r-leucadia-fbg-2", "from": "leucadia", "to": "fbg", "role": "Objecting creditor (LAM Parties) to the debtors' factoring procedures motion, Docket No. 1049", "period": "2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "historical", "claim_ids": [ "c-fac-lam-objection", "c-ch11-interested-parties" ], "kind": "legal" }, { "id": "r-point-bonita-fbg", "from": "point-bonita", "to": "fbg", "role": "Trade-finance fund that bought First Brands receivables under a Master Receivables Purchase Agreement (about $715 million, as stated by Jefferies)", "period": "Until 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-fac-point-bonita-receivables", "c-fac-jefferies-letter", "c-fac-jefferies-awareness", "c-fac-raistone-oconnor", "c-fac-point-bonita-investor-suit" ], "kind": "business" }, { "id": "r-jefferies-fg-leucadia", "from": "jefferies-fg", "to": "leucadia", "role": "Owner of Leucadia Asset Management, LLC, as stated in a court filing by Patrick James", "period": "As of January 2026", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-fac-jefferies-entities" ], "kind": "owns" }, { "id": "r-jefferies-fg-point-bonita", "from": "jefferies-fg", "to": "point-bonita", "role": "Owner of Point Bonita Capital as stated in a court filing by Patrick James; Jefferies describes itself as a 5.9% investor in the Point Bonita fund", "period": "As of 2025-2026", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-fac-jefferies-entities", "c-fac-jefferies-letter" ], "kind": "owns" }, { "id": "r-jefferies-fg-lam-tfg", "from": "jefferies-fg", "to": "lam-tfg", "role": "Owner of LAM Trade Finance Group LLC, as stated in a court filing by Patrick James", "period": "As of January 2026", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-fac-jefferies-entities" ], "kind": "owns" }, { "id": "r-jefferies-fg-lam-tfg-i", "from": "jefferies-fg", "to": "lam-tfg-i", "role": "Owner of LAM Trade Finance Group I SPV LLC, as stated in a court filing by Patrick James", "period": "As of January 2026", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-fac-jefferies-entities" ], "kind": "owns" }, { "id": "r-jefferies-fg-lam-tfg-ii", "from": "jefferies-fg", "to": "lam-tfg-ii", "role": "Owner of LAM Trade Finance Group II LLC, as stated in a court filing by Patrick James", "period": "As of January 2026", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-fac-jefferies-entities" ], "kind": "owns" }, { "id": "r-point-bonita-lam-tfg", "from": "point-bonita", "to": "lam-tfg", "role": "Owner (Point Bonita master fund) of LAM Trade Finance Group, as stated by Jefferies", "period": "As of March 2026", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-fac-western-alliance" ], "kind": "owns" }, { "id": "r-lam-tfg-fbg", "from": "lam-tfg", "to": "fbg", "role": "Special purpose entity that purchased and held First Brands receivables, as described by Jefferies", "period": "Until 2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-fac-western-alliance" ], "kind": "business" }, { "id": "r-primerevenue-fbg", "from": "primerevenue", "to": "fbg", "role": "Supply-chain-finance software platform used by First Brands, including to upload receivables data for third-party lenders", "period": "Before the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-fac-primerevenue-kirschner" ], "kind": "business" }, { "id": "r-primerevenue-fbg-2", "from": "primerevenue", "to": "fbg", "role": "Movant asking the bankruptcy court to strike or seal statements about it in the First Brands record", "period": "September 2026", "status": "reported", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-fac-primerevenue-strike" ], "kind": "legal" }, { "id": "r-bdo-fbg", "from": "bdo", "to": "fbg", "role": "Auditor of the financial statements; listed as auditor on the Chapter 11 docket", "period": "Audit reports from 2020 through about December 31, 2024", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-fac-docket-financiers", "c-gate-bdo-auditor", "c-suit-defense-narrative", "c-gate-examiner-bdo" ], "kind": "directs" }, { "id": "r-factofrance-fbg", "from": "factofrance", "to": "fbg", "role": "Creditor appearing in Chapter 11 case 25-90399 (docket party list)", "period": "As listed on the docket at October 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-fac-docket-financiers" ], "kind": "legal" }, { "id": "r-ing-belgium-fbg", "from": "ing-belgium", "to": "fbg", "role": "Creditor appearing in Chapter 11 case 25-90399 (docket party list)", "period": "As listed on the docket at October 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-fac-docket-financiers" ], "kind": "legal" }, { "id": "r-mitsubishi-hc-fbg", "from": "mitsubishi-hc", "to": "fbg", "role": "Creditor appearing in Chapter 11 case 25-90399 (docket party list)", "period": "As listed on the docket at October 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-fac-docket-financiers" ], "kind": "legal" }, { "id": "r-store-capital-fbg", "from": "store-capital", "to": "fbg", "role": "Creditor appearing in Chapter 11 case 25-90399 (docket party list)", "period": "As listed on the docket at October 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-fac-docket-financiers" ], "kind": "legal" }, { "id": "r-silver-point-fbg", "from": "silver-point", "to": "fbg", "role": "Creditor appearing in Chapter 11 case 25-90399 (docket party list)", "period": "As listed on the docket at October 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-fac-docket-banks" ], "kind": "legal" }, { "id": "r-napier-park-fbg", "from": "napier-park", "to": "fbg", "role": "Creditor appearing in Chapter 11 case 25-90399 (docket party list)", "period": "As listed on the docket at October 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-fac-docket-banks" ], "kind": "legal" }, { "id": "r-us-bank-fbg", "from": "us-bank", "to": "fbg", "role": "Creditor appearing in Chapter 11 case 25-90399 (docket party list)", "period": "As listed on the docket at October 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-fac-docket-banks" ], "kind": "legal" }, { "id": "r-truist-fbg", "from": "truist", "to": "fbg", "role": "Creditor appearing in Chapter 11 case 25-90399 (docket party list)", "period": "As listed on the docket at October 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-fac-docket-banks" ], "kind": "legal" }, { "id": "r-peter-brumbergs-fbg", "from": "peter-brumbergs", "to": "fbg", "role": "Vice president of finance and board member (senior vice president of finance in some records)", "period": "Until terminated on October 30, 2025 (stopped working September 22, 2025)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-fac-brumbergs-scf", "c-crim-brumbergs-plea", "c-crim-brumbergs-statements", "c-lead-departures-oct" ], "kind": "directs" }, { "id": "r-weil-fbg", "from": "weil", "to": "fbg", "role": "Bankruptcy counsel to First Brands Group, LLC and the other debtors", "period": "From the September 2025 petitions", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-fac-raistone-examiner", "c-ch11-petition", "c-ch11-advisers" ], "kind": "business" }, { "id": "r-charles-moore-fbg", "from": "charles-moore", "to": "fbg", "role": "Chief restructuring officer of First Brands Group, LLC and the other parent entities", "period": "From September 2025 (board resolutions of September 24 and 26, 2025); deemed to resign on conversion under the proposed conversion order", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-ch11-petition", "c-ch11-advisers", "c-ch11-dip-cro-investigation", "c-ch11-conversion-order-terms", "c-lead-cro", "c-lead-moore-interim", "c-ch11-lead-case" ], "kind": "directs" }, { "id": "r-alvarez-marsal-fbg", "from": "alvarez-marsal", "to": "fbg", "role": "Financial adviser to the debtors, providing the Chief Restructuring Officer", "period": "From September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-ch11-advisers" ], "kind": "directs" }, { "id": "r-lazard-fbg", "from": "lazard", "to": "fbg", "role": "Investment banker to the debtors", "period": "From September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-ch11-advisers" ], "kind": "directs" }, { "id": "r-kroll-fbg", "from": "kroll", "to": "fbg", "role": "Claims and noticing agent in the Chapter 11 cases", "period": "From September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-ch11-advisers" ], "kind": "directs" }, { "id": "r-patrick-james-fbg-3", "from": "patrick-james", "to": "fbg", "role": "Party, with the equity holders, to the stipulation and agreed order preserving the debtors' net operating losses", "period": "October 8, 2025", "status": "documented", "direction": "undirected", "role_group": "legal", "temporal_status": "historical", "claim_ids": [ "c-ch11-nol-stipulation" ], "kind": "legal" }, { "id": "r-mayfair-fbg", "from": "mayfair", "to": "fbg", "role": "Policyholder of the directors' and officers' liability insurance covering the group's directors and officers", "period": "Policies in place before the September 2025 petition", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-ch11-do-order" ], "kind": "business" }, { "id": "r-fbg-wsfs", "from": "fbg", "to": "wsfs", "role": "Borrower under the October 2, 2025 DIP credit agreement, with WSFS as administrative and collateral agent", "period": "From October 2, 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-ch11-dip-parties", "c-ch11-dip-cash-control" ], "kind": "business" }, { "id": "r-fbg-opy-credit", "from": "fbg", "to": "opy-credit", "role": "Borrower under the October 2, 2025 DIP credit agreement, with OPY Credit Corp. as trading agent", "period": "From October 2, 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-ch11-dip-parties" ], "kind": "business" }, { "id": "r-viceroy-fbg", "from": "viceroy", "to": "fbg", "role": "Guarantor of the DIP loans to First Brands Group, LLC (parent guaranty in favour of the administrative agent)", "period": "From October 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-ch11-dip-parent-guaranty" ], "kind": "business" }, { "id": "r-shekhar-kumar-fbg", "from": "shekhar-kumar", "to": "fbg", "role": "Corporate finance manager from August 2021; later senior vice president, M&A and manager on the board of managers; signed the DIP credit agreement and the December 2025 WARN notice", "period": "From August 2021; still senior vice president on December 29, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-ch11-dip-signatory", "c-sale-eagle-warn", "c-lead-boards-2025", "c-lead-filing-consent", "c-lead-officers-petition", "c-lead-kumar-remains", "c-lead-officers-2023" ], "kind": "directs" }, { "id": "r-morgan-stanley-sf-fbg", "from": "morgan-stanley-sf", "to": "fbg", "role": "Fronting lender under the DIP credit agreement, from which Ad Hoc Group members bought the new-money loans", "period": "October 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-ch11-dip-fronting" ], "kind": "business" }, { "id": "r-fbg-patrick-james", "from": "fbg", "to": "patrick-james", "role": "Plaintiff, with the affiliated debtors, in adversary proceeding 25-03803 against Patrick James (fraudulent transfer, unjust enrichment and related claims)", "period": "Filed November 3, 2025; discovery stayed since April 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "current", "claim_ids": [ "c-ch11-suits-stayed", "c-suit-complaint", "c-suit-us-stay", "c-suit-injunction" ], "kind": "legal" }, { "id": "r-aequum-fbg", "from": "aequum", "to": "fbg", "role": "Secured lender to SPV debtors seeking dismissal of certain SPV debtors' Chapter 11 cases", "period": "From November 10, 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "historical", "claim_ids": [ "c-ch11-spv-separateness", "c-ch11-early-motions", "c-spv-dismissal-motions" ], "kind": "legal" }, { "id": "r-evolution-fund-fbg", "from": "evolution-fund", "to": "fbg", "role": "Plaintiff in adversary proceedings against First Brands Group, LLC and other debtors (25-ap-03800, 26-ap-03006)", "period": "From October 31, 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-ch11-adversaries", "c-ch11-spv-separateness" ], "kind": "legal" }, { "id": "r-fbg-onset", "from": "fbg", "to": "onset", "role": "Plaintiff in the debtors' suit against Onset Financial, Inc. and Edward James (26-ap-03005); stayed pending the criminal case", "period": "Filed January 9, 2026; stayed", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "current", "claim_ids": [ "c-ch11-suits-stayed", "c-ch11-adversaries", "c-suit-edward-onset-complaint", "c-suit-plan-claims" ], "kind": "legal" }, { "id": "r-benjamin-duster-fbg", "from": "benjamin-duster", "to": "fbg", "role": "Independent manager and special committee member of the First Brands parent entities", "period": "By June 2026; the proposed conversion order deems him resigned on conversion", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-ch11-plan-releases", "c-ch11-conversion-order-terms" ], "kind": "directs" }, { "id": "r-william-transier-fbg", "from": "william-transier", "to": "fbg", "role": "Independent manager on the boards of managers and member of the special committee", "period": "From September 17, 2025; deemed to resign on conversion under the proposed conversion order", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-ch11-plan-releases", "c-ch11-conversion-order-terms", "c-lead-boards-2025", "c-lead-special-committee", "c-lead-filing-consent", "c-lead-duster-committee" ], "kind": "directs" }, { "id": "r-mayfair-fbg-2", "from": "mayfair", "to": "fbg", "role": "Creditor in the First Brands Chapter 11 case", "period": "2025–2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-ch11-party-mayfair" ], "kind": "legal" }, { "id": "r-oaktree-fbg", "from": "oaktree", "to": "fbg", "role": "Reported holder of a stake in the DIP loan", "period": "From January 2026", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-ch11-dip-trading" ], "kind": "business" }, { "id": "r-anchorage-fbg", "from": "anchorage", "to": "fbg", "role": "Reported holder of a stake in the DIP loan", "period": "From January 2026", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-ch11-dip-trading" ], "kind": "business" }, { "id": "r-planters-bank-onset", "from": "planters-bank", "to": "onset", "role": "Plaintiff in a suit against Onset Financial over master lease schedule 28 (E.D. La. 2:26-cv-01230, now Adv. 4:26-ap-03683)", "period": "From June 8, 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "current", "claim_ids": [ "c-ch11-planters-onset" ], "kind": "legal" }, { "id": "r-edward-james-fbg", "from": "edward-james", "to": "fbg", "role": "Appellant from the bankruptcy court's directors' and officers' insurance order in In re First Brands Group (S.D. Tex. H-26-513)", "period": "2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-ch11-do-appeal" ], "kind": "legal" }, { "id": "r-fbg-pgi-northstar", "from": "fbg", "to": "pgi-northstar", "role": "Seller of 12 brands (including Fram, Autolite and Trico) and related intellectual property to PGI Northstar LLC for $25 million", "period": "agreed March 2026; approved April 10, 2026; closed April 13, 2026", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-sale-pgi-brands", "c-sale-pgi-assets" ], "kind": "business" }, { "id": "r-fbg-friction-one", "from": "fbg", "to": "friction-one", "role": "Seller of the Raybestos brand and its engineering and marketing assets to Friction One", "period": "June 2026", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-sale-brake-brands" ], "kind": "business" }, { "id": "r-fbg-motorcar-parts", "from": "fbg", "to": "motorcar-parts", "role": "Seller of the Centric Parts, Posi Quiet, StopTech, C-TEK and GCX brand assets to Motorcar Parts of America (Section 363 sale)", "period": "June 2026", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-sale-brake-brands" ], "kind": "business" }, { "id": "r-tmd-tnj-ohio", "from": "tmd", "to": "tnj-ohio", "role": "Business assets sold to TNJ Ohio LLC, a JVIS affiliate, under a court sale order (about $80 million)", "period": "sale order May 14, 2026", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-sale-tmd" ], "kind": "business" }, { "id": "r-walbro-overdrive-capital", "from": "walbro", "to": "overdrive-capital", "role": "Walbro business sold to Overdrive Capital, LLC for $50 million", "period": "approved March 13, 2026; closed March 16, 2026", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-sale-walbro" ], "kind": "business" }, { "id": "r-walbro-active-dynamics", "from": "walbro", "to": "active-dynamics", "role": "Walbro business sale announced to Active Dynamics Group; the court-approved purchaser was Overdrive Capital, LLC, owned by Active Dynamics shareholders and officers", "period": "announced March 10, 2026", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-sale-walbro" ], "kind": "business" }, { "id": "r-fbg-eagle-machining", "from": "fbg", "to": "eagle-machining", "role": "Group parent that operated and closed the Eagle Machining plant in Fayette, Ohio (WARN notices of December 29, 2025 and January 27, 2026; press describes First Brands Group as parent company)", "period": "until closure on January 27, 2026", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "historical", "claim_ids": [ "c-sale-eagle-warn", "c-sale-eagle-local" ], "kind": "owns" }, { "id": "r-eagle-machining-fbg", "from": "eagle-machining", "to": "fbg", "role": "Affiliated debtor: Chapter 11 case 25-90489 jointly administered under First Brands Group, LLC case 25-90399", "period": "filed September 29, 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "historical", "claim_ids": [ "c-sale-eagle-debtor" ], "kind": "legal" }, { "id": "r-paul-kosturos-fbg", "from": "paul-kosturos", "to": "fbg", "role": "Chief financial officer; company contact in the January 2026 WARN notice", "period": "Appointed October 30, 2025, effective November 3, 2025; deemed to resign on conversion under the proposed conversion order", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-sale-eagle-warn", "c-lead-moore-interim" ], "kind": "directs" }, { "id": "r-trico-belgium-liberty-i", "from": "trico-belgium", "to": "liberty-i", "role": "Direct parent of Liberty I B.V., top holding company of the Ultinon business", "period": "from the 2024 acquisition; as of March 26, 2026", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "current", "claim_ids": [ "c-intl-ultinon-chain" ], "kind": "owns" }, { "id": "r-liberty-i-liberty-ii", "from": "liberty-i", "to": "liberty-ii", "role": "Direct parent of Liberty II B.V.", "period": "as of March 26, 2026", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "current", "claim_ids": [ "c-intl-ultinon-chain" ], "kind": "owns" }, { "id": "r-trico-investments-trico-belgium", "from": "trico-investments", "to": "trico-belgium", "role": "Parent of Trico Belgium S.A. in the Ultinon holding chart", "period": "as of March 26, 2026", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "current", "claim_ids": [ "c-intl-ultinon-chain" ], "kind": "owns" }, { "id": "r-fbgh-lumileds", "from": "fbgh", "to": "lumileds", "role": "Buyer (through the FBG group) of the Ultinon automotive-lighting business from Lumileds Holding B.V. for about $238 million", "period": "August 2024 (other accounts: May or July 2024)", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-intl-ultinon-acquisition" ], "kind": "business" }, { "id": "r-liberty-ii-banco-santander", "from": "liberty-ii", "to": "banco-santander", "role": "Borrower under the €140 million Senior Facilities Agreement of July 30, 2024; Banco Santander as agent and security agent", "period": "from July 30, 2024", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-intl-santander" ], "kind": "business" }, { "id": "r-banco-santander-ultinon-holding", "from": "banco-santander", "to": "ultinon-holding", "role": "Creditor in the Ultinon holding companies' Chapter 11 case 26-90428 (as agent under the Santander facility)", "period": "from March 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-chapter11" ], "kind": "legal" }, { "id": "r-liberty-ii-deva-capital", "from": "liberty-ii", "to": "deva-capital", "role": "Borrower of €5 million emergency funding under the Deva Amendment", "period": "October 27, 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-intl-rescue-funding" ], "kind": "business" }, { "id": "r-liberty-ii-ktri", "from": "liberty-ii", "to": "ktri", "role": "Borrower of $7.6 million lent by KTRI Holdings, Inc. from First Brands DIP proceeds (Near-Term Funding Agreement)", "period": "November 17, 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-intl-rescue-funding" ], "kind": "business" }, { "id": "r-edward-james-ultinon-holding", "from": "edward-james", "to": "ultinon-holding", "role": "Board member of Ultinon business companies as one of the \"FBG Appointees\" placed after the 2024 acquisition", "period": "after August 2024; before November 2025", "status": "reported", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-intl-appointees" ], "kind": "directs" }, { "id": "r-michael-baker-ultinon-holding", "from": "michael-baker", "to": "ultinon-holding", "role": "Board member of Ultinon business companies as one of the \"FBG Appointees\" placed after the 2024 acquisition", "period": "after August 2024; before November 2025", "status": "reported", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-intl-appointees" ], "kind": "directs" }, { "id": "r-lumileds-ultinon-holding", "from": "lumileds", "to": "ultinon-holding", "role": "Seller of the Ultinon business and creditor: obtained a precautionary attachment of the holding company's Citibank account and appears as an interested party in its Chapter 11 case", "period": "March 26, 2026 onwards", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-lumileds-attachment", "c-intl-chapter11" ], "kind": "legal" }, { "id": "r-fbg-ultinon-holding", "from": "fbg", "to": "ultinon-holding", "role": "Interested party in the Ultinon holding companies' Chapter 11 case 26-90428", "period": "from March 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-chapter11" ], "kind": "legal" }, { "id": "r-ultinon-holding-calf", "from": "ultinon-holding", "to": "calf", "role": "Client under an International Factoring Agreement of August 8, 2024 with Crédit Agricole Leasing & Finance", "period": "from August 8, 2024; no receipts expected after March 26, 2026", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-intl-cash-factoring" ], "kind": "business" }, { "id": "r-ultinon-holding-citibank", "from": "ultinon-holding", "to": "citibank", "role": "Account holder; Citibank is the primary bank of the Ultinon holding companies (10 accounts)", "period": "as of March 26, 2026", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "current", "claim_ids": [ "c-intl-cash-factoring", "c-intl-lumileds-attachment" ], "kind": "business" }, { "id": "r-wolfgang-piroth-ultinon-germany", "from": "wolfgang-piroth", "to": "ultinon-germany", "role": "Insolvency administrator of Ultinon Motion Germany GmbH appointed by the Aachen local court (case 92 IN 26/26); notified insufficiency of the estate on July 31, 2026", "period": "from February 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-ultinon-germany" ], "kind": "legal" }, { "id": "r-fbg-diepersdorf", "from": "fbg", "to": "diepersdorf", "role": "Reported parent group of Diepersdorf Plastic Manufacturing (former Bolta-Werke), which the Czech Winning Group passed to First Brands in 2024", "period": "from 2024", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-intl-diepersdorf", "c-intl-de-overview" ], "kind": "owns" }, { "id": "r-winning-plastics-diepersdorf", "from": "winning-plastics", "to": "diepersdorf", "role": "Former 100% shareholder of Diepersdorf Plastic Manufacturing GmbH (register data, 2022)", "period": "2022", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "historical", "claim_ids": [ "c-intl-diepersdorf-officers" ], "kind": "owns" }, { "id": "r-michael-baker-diepersdorf", "from": "michael-baker", "to": "diepersdorf", "role": "Former managing director of Diepersdorf Plastic Manufacturing GmbH (register data; identified by name)", "period": "former; dates not given", "status": "reported", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-intl-diepersdorf-officers" ], "kind": "directs" }, { "id": "r-stephen-graham-diepersdorf", "from": "stephen-graham", "to": "diepersdorf", "role": "Former managing director of Diepersdorf Plastic Manufacturing GmbH (register data as Stephen E. K. Graham; identified by name)", "period": "former; dates not given", "status": "reported", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-intl-diepersdorf-officers" ], "kind": "directs" }, { "id": "r-shekhar-kumar-diepersdorf", "from": "shekhar-kumar", "to": "diepersdorf", "role": "Former managing director of Diepersdorf Plastic Manufacturing GmbH (register data; identified by name)", "period": "former; dates not given", "status": "reported", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-intl-diepersdorf-officers" ], "kind": "directs" }, { "id": "r-volker-boehm-diepersdorf", "from": "volker-boehm", "to": "diepersdorf", "role": "Insolvency administrator of Diepersdorf Plastic Manufacturing appointed by the Nuremberg local court (second appointment after 2022)", "period": "from late 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-diepersdorf" ], "kind": "legal" }, { "id": "r-katharina-franke-diepersdorf", "from": "katharina-franke", "to": "diepersdorf", "role": "Special insolvency administrator to examine claims lodged by the administrator of Linden and SMK Plastic Manufacturing (case IE 1607/25)", "period": "notice of March 13, 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-diepersdorf-court" ], "kind": "legal" }, { "id": "r-linden-plastic-diepersdorf", "from": "linden-plastic", "to": "diepersdorf", "role": "Claimant: its insolvency administrator lodged a claim in Diepersdorf's insolvency proceeding", "period": "by March 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-diepersdorf-court" ], "kind": "legal" }, { "id": "r-smk-plastic-diepersdorf", "from": "smk-plastic", "to": "diepersdorf", "role": "Claimant: its insolvency administrator lodged a claim in Diepersdorf's insolvency proceeding", "period": "by March 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-diepersdorf-court" ], "kind": "legal" }, { "id": "r-fbg-cofo", "from": "fbg", "to": "cofo", "role": "Reported parent group of the CoFo group (German press)", "period": "as of December 2025", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-intl-de-overview" ], "kind": "owns" }, { "id": "r-jan-philipp-hoos-cofo", "from": "jan-philipp-hoos", "to": "cofo", "role": "Provisional insolvency administrator of CoFo PWK GmbH and CoFo Räuchle GmbH (Krefeld local court order)", "period": "from November 24, 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-cofo" ], "kind": "legal" }, { "id": "r-fbg-meteor", "from": "fbg", "to": "meteor", "role": "Reported parent group of Meteor GmbH after its purchase from Aequita in September 2025 (completion under review by the administrator)", "period": "from September 2025", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-intl-meteor", "c-intl-de-overview" ], "kind": "owns" }, { "id": "r-rainer-eckert-meteor", "from": "rainer-eckert", "to": "meteor", "role": "Provisional insolvency administrator of Meteor GmbH appointed by the Hildesheim local court", "period": "from December 2, 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-meteor" ], "kind": "legal" }, { "id": "r-fbg-westfalia", "from": "fbg", "to": "westfalia", "role": "Group company; the petition organisation chart places Westfalia-Automotive in the Horizon Global part of the group, and press describes First Brands as its parent", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-intl-organigram", "c-intl-westfalia-press" ], "kind": "owns" }, { "id": "r-westfalia-holding-westfalia", "from": "westfalia-holding", "to": "westfalia", "role": "100% shareholder of Westfalia-Automotive GmbH (register data; link direction not verified by the aggregator)", "period": "current in register data", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-intl-westfalia-register" ], "kind": "owns" }, { "id": "r-tomasz-sgaslik-westfalia", "from": "tomasz-sgaslik", "to": "westfalia", "role": "Managing director of Westfalia-Automotive GmbH (register data)", "period": "current in register data", "status": "reported", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-intl-westfalia-register" ], "kind": "directs" }, { "id": "r-tomasz-sgaslik-westfalia-holding", "from": "tomasz-sgaslik", "to": "westfalia-holding", "role": "Managing director of Westfalia-Automotive Holding GmbH (register data)", "period": "current in register data", "status": "reported", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-intl-westfalia-register" ], "kind": "directs" }, { "id": "r-fbg-fram-canada", "from": "fbg", "to": "fram-canada", "role": "Group company in the FRAM filter group (acquired March 2019); shown in the petition organisation chart next to FRAM Group Holdings", "period": "from March 2019", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-intl-organigram", "c-intl-fram-canada" ], "kind": "owns" }, { "id": "r-tdb-fram-canada", "from": "tdb", "to": "fram-canada", "role": "Licensed insolvency trustee of FRAM Group (Canada) Inc.'s bankruptcy (estate 31-3367690)", "period": "appointed May 1, 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-fram-canada" ], "kind": "legal" }, { "id": "r-fbgh-ktri", "from": "fbgh", "to": "ktri", "role": "Parent of KTRI Holdings, Inc. in the Ultinon holding chart", "period": "as of March 26, 2026", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "current", "claim_ids": [ "c-intl-ultinon-chain" ], "kind": "owns" }, { "id": "r-ktri-trico-products", "from": "ktri", "to": "trico-products", "role": "Parent of Trico Products Corporation in the Ultinon holding chart", "period": "as of March 26, 2026", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "current", "claim_ids": [ "c-intl-ultinon-chain" ], "kind": "owns" }, { "id": "r-trico-products-trico-investments", "from": "trico-products", "to": "trico-investments", "role": "Parent of Trico Investments Corporation in the Ultinon holding chart", "period": "as of March 26, 2026", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "current", "claim_ids": [ "c-intl-ultinon-chain" ], "kind": "owns" }, { "id": "r-liberty-ii-ultinon-holding", "from": "liberty-ii", "to": "ultinon-holding", "role": "Direct parent of Ultinon Motion Holding B.V.", "period": "as of March 26, 2026", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "current", "claim_ids": [ "c-intl-ultinon-chain" ], "kind": "owns" }, { "id": "r-ultinon-holding-ultinon-germany", "from": "ultinon-holding", "to": "ultinon-germany", "role": "Holding company above the operating subsidiary Ultinon Motion Germany GmbH", "period": "as of March 26, 2026", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "current", "claim_ids": [ "c-intl-ultinon-chain", "c-intl-ultinon-local" ], "kind": "owns" }, { "id": "r-liberty-i-deva-capital", "from": "liberty-i", "to": "deva-capital", "role": "Party to the Deva Amendment providing €5 million of emergency funding", "period": "October 27, 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-intl-rescue-funding" ], "kind": "business" }, { "id": "r-overdrive-capital-active-dynamics", "from": "overdrive-capital", "to": "active-dynamics", "role": "Owned and operated by shareholders and officers of Active Dynamics Group", "period": "as of March 2026", "status": "reported", "direction": "undirected", "role_group": "associations", "temporal_status": "unknown", "claim_ids": [ "c-sale-walbro" ], "kind": "other" }, { "id": "r-tdb-hopkins-canada", "from": "tdb", "to": "hopkins-canada", "role": "Trustee of Hopkins Canada, Inc.'s bankruptcy appointed by the Official Receiver", "period": "appointed May 4, 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-hopkins-canada" ], "kind": "legal" }, { "id": "r-fbg-hopkins-canada", "from": "fbg", "to": "hopkins-canada", "role": "Group company in the Hopkins group (acquired November 2023)", "period": "from November 2023", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-intl-hopkins-canada" ], "kind": "owns" }, { "id": "r-banco-santander-deva-capital", "from": "banco-santander", "to": "deva-capital", "role": "Sole owner of Deva Capital Investment Company, S.L.U.", "period": "as of October 2025", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-intl-rescue-funding" ], "kind": "owns" }, { "id": "r-fbg-liberty-i", "from": "fbg", "to": "liberty-i", "role": "Debtor group authorized to fund Liberty I and its subsidiaries (funding motion of November 21, 2025, approved November 25, 2025; $60 million contemplated)", "period": "November 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-intl-rescue-funding" ], "kind": "business" }, { "id": "r-ktri-fbg", "from": "ktri", "to": "fbg", "role": "Affiliated debtor in the First Brands Chapter 11 cases", "period": "from September 2025", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-rescue-funding" ], "kind": "legal" }, { "id": "r-kroll-ultinon-holding", "from": "kroll", "to": "ultinon-holding", "role": "Claims and noticing agent in Chapter 11 case 26-90428", "period": "from March 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-chapter11" ], "kind": "legal" }, { "id": "r-wsfs-ultinon-holding", "from": "wsfs", "to": "ultinon-holding", "role": "Interested party in the Ultinon holding companies' Chapter 11 case 26-90428", "period": "from March 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-chapter11" ], "kind": "legal" }, { "id": "r-weil-diepersdorf", "from": "weil", "to": "diepersdorf", "role": "Representative (counsel) of the debtor in its German insolvency proceeding IE 1607/25", "period": "as of March 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-diepersdorf-court" ], "kind": "legal" }, { "id": "r-volker-boehm-linden-plastic", "from": "volker-boehm", "to": "linden-plastic", "role": "Insolvency administrator of Linden Plastic Manufacturing GmbH", "period": "as of March 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-diepersdorf-court" ], "kind": "legal" }, { "id": "r-volker-boehm-smk-plastic", "from": "volker-boehm", "to": "smk-plastic", "role": "Insolvency administrator of SMK Plastic Manufacturing GmbH", "period": "as of March 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "unknown", "claim_ids": [ "c-intl-diepersdorf-court" ], "kind": "legal" }, { "id": "r-fbg-pj-trust", "from": "fbg", "to": "pj-trust", "role": "Plaintiff, with the affiliated debtors, in adversary proceeding 25-03803 against the Patrick James Trust", "period": "Filed November 3, 2025; pending", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "current", "claim_ids": [ "c-suit-complaint" ], "kind": "legal" }, { "id": "r-patrick-james-fbg-4", "from": "patrick-james", "to": "fbg", "role": "Appellant against First Brands Group, LLC in Civil Action H-26-3646 (appeal of the stay order)", "period": "2026; appeal dismissed May 29, 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "historical", "claim_ids": [ "c-suit-us-stay" ], "kind": "legal" }, { "id": "r-patrick-james-pj-trust", "from": "patrick-james", "to": "pj-trust", "role": "Grantor of the trust", "period": "Since March 10, 2005", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-suit-defendants" ], "kind": "owns" }, { "id": "r-patrick-james-albion-realty", "from": "patrick-james", "to": "albion-realty", "role": "Controls the company, as described in the debtors' complaint", "period": "As of November 2025", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-suit-defendants", "c-suit-examiner-fram-uci" ], "kind": "owns" }, { "id": "r-patrick-james-alester", "from": "patrick-james", "to": "alester", "role": "Controls the company, as described in the debtors' complaint", "period": "As of November 2025", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-suit-defendants" ], "kind": "owns" }, { "id": "r-patrick-james-bond-street", "from": "patrick-james", "to": "bond-street", "role": "Controls the company, as described in the debtors' complaint", "period": "As of November 2025", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-suit-defendants" ], "kind": "owns" }, { "id": "r-patrick-james-ignite", "from": "patrick-james", "to": "ignite", "role": "Controls the company, as described in the debtors' complaint", "period": "As of November 2025", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-suit-defendants" ], "kind": "owns" }, { "id": "r-patrick-james-pegasus-aviation", "from": "patrick-james", "to": "pegasus-aviation", "role": "Controls the company, as described in the debtors' complaint", "period": "As of November 2025", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-suit-defendants" ], "kind": "owns" }, { "id": "r-patrick-james-battery-park", "from": "patrick-james", "to": "battery-park", "role": "Owner (100%), as stated in the debtors' complaint", "period": "As of November 2025", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-suit-james-companies" ], "kind": "owns" }, { "id": "r-patrick-james-larchmont", "from": "patrick-james", "to": "larchmont", "role": "Owner and controlling person, as stated in the debtors' complaint", "period": "As of November 2025", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-suit-james-companies" ], "kind": "owns" }, { "id": "r-fbg-pj-trust-2", "from": "fbg", "to": "pj-trust", "role": "Paid distributions alleged to exceed $600 million, without consideration according to the debtors", "period": "2018–2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-suit-trust-transfers" ], "kind": "business" }, { "id": "r-pj-trust-fbg", "from": "pj-trust", "to": "fbg", "role": "Deposited funds into First Brands (at least $80 million in December 2024 and at least $34 million in July 2025, according to James's lawyers)", "period": "December 2024 – July 2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-suit-trust-transfers" ], "kind": "business" }, { "id": "r-carnaby-fa-pj-trust", "from": "carnaby-fa", "to": "pj-trust", "role": "Paid about $17 million to the trust the day it received $67.2 million from Onset, according to the debtors' complaint", "period": "April 4, 2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-suit-onset-proceeds" ], "kind": "business" }, { "id": "r-carnaby-iv-pj-trust", "from": "carnaby-iv", "to": "pj-trust", "role": "Paid $25 million (January 15, 2025) and $35 million each on March 10 and 13, 2025 to the trust, according to the debtors' complaint", "period": "January–March 2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-suit-onset-proceeds" ], "kind": "business" }, { "id": "r-fbg-larchmont", "from": "fbg", "to": "larchmont", "role": "Transferred about $35 million, according to the debtors' complaint", "period": "2018–2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-suit-james-companies" ], "kind": "business" }, { "id": "r-fbg-battery-park", "from": "fbg", "to": "battery-park", "role": "Transferred more than $10 million for personal and family expenses, according to the debtors' complaint", "period": "2018–2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-suit-james-companies" ], "kind": "business" }, { "id": "r-patrick-james-columbus-components", "from": "patrick-james", "to": "columbus-components", "role": "Sole or controlling owner and chairman, as alleged by Fortress Value Recovery Fund I in 2011", "period": "As alleged in 2011", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "historical", "claim_ids": [ "c-fdr-fortress" ], "kind": "owns" }, { "id": "r-patrick-james-ccg-holdings", "from": "patrick-james", "to": "ccg-holdings", "role": "Sole or controlling owner and chairman, as alleged by Fortress Value Recovery Fund I in 2011", "period": "As alleged in 2011", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "historical", "claim_ids": [ "c-fdr-fortress" ], "kind": "owns" }, { "id": "r-patrick-james-pj-management", "from": "patrick-james", "to": "pj-management", "role": "Sole or controlling owner and chairman, as alleged by Fortress Value Recovery Fund I in 2011", "period": "As alleged in 2011", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "historical", "claim_ids": [ "c-fdr-fortress" ], "kind": "owns" }, { "id": "r-patrick-james-hawthorn", "from": "patrick-james", "to": "hawthorn", "role": "Controlling owner and chairman (alleged in the 2011 Fortress suit); described in the press as one of his acquisition vehicles", "period": "1990s–2011", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "historical", "claim_ids": [ "c-fdr-fortress", "c-fdr-earlier-ventures" ], "kind": "owns" }, { "id": "r-patrick-james-sandor-foundation", "from": "patrick-james", "to": "sandor-foundation", "role": "Trustee (unpaid)", "period": "Listed in returns through fiscal year 2022", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-fdr-sandor-foundation" ], "kind": "directs" }, { "id": "r-edward-james-sandor-foundation", "from": "edward-james", "to": "sandor-foundation", "role": "Trustee (unpaid)", "period": "Listed in returns through fiscal year 2022", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-fdr-sandor-foundation" ], "kind": "directs" }, { "id": "r-michael-baker-sandor-foundation", "from": "michael-baker", "to": "sandor-foundation", "role": "Trustee (unpaid)", "period": "Listed in the fiscal-2024 return", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-fdr-sandor-foundation", "c-fdr-baker-sandor" ], "kind": "directs" }, { "id": "r-patrick-james-quinn-emanuel", "from": "patrick-james", "to": "quinn-emanuel", "role": "Client; the firm represents James and his co-defendants in adversary proceeding 25-03803", "period": "Since 2025", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "current", "claim_ids": [ "c-suit-defendants", "c-suit-motion-dismiss", "c-ch11-interested-parties" ], "kind": "business" }, { "id": "r-patrick-james-jefferies-fg", "from": "patrick-james", "to": "jefferies-fg", "role": "Petitioner seeking to compel Jefferies to comply with a document subpoena (S.D.N.Y. No. 1:26-mc-00007)", "period": "January 7–12, 2026; transferred to the Texas bankruptcy court", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "historical", "claim_ids": [ "c-suit-jefferies-subpoena" ], "kind": "legal" }, { "id": "r-patrick-james-bleecker-group", "from": "patrick-james", "to": "bleecker-group", "role": "Owner, according to the examiner's interim report", "period": "From 2020", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-suit-examiner-fram-uci" ], "kind": "owns" }, { "id": "r-alester-fbg", "from": "alester", "to": "fbg", "role": "Received intellectual property after group acquisitions and licensed it to group operating companies, according to the examiner", "period": "Unknown start; discussed before the 2023 Cardone acquisition", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-suit-examiner-alester" ], "kind": "business" }, { "id": "r-patrick-james-gt-sarl", "from": "patrick-james", "to": "gt-sarl", "role": "Indirect owner through Global Technologies Partners, LLC, outside the First Brands group", "period": "As of February 2025", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-fdr-novares-notification", "c-suit-examiner-novares" ], "kind": "owns" }, { "id": "r-gt-sarl-novares", "from": "gt-sarl", "to": "novares", "role": "Acquirer of sole control by share purchase", "period": "Notified February 12, 2025; acquisition in 2025", "status": "documented", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-fdr-novares-notification", "c-suit-examiner-novares" ], "kind": "owns" }, { "id": "r-fbg-patrick-james-2", "from": "fbg", "to": "patrick-james", "role": "Alleged transfers of company funds and payments for assets to Patrick James and entities controlled by Patrick James (more than $700 million from 2018 to 2025 according to the debtors' complaint; $720 million in 36 transfers according to the examiner; $488 million for assets according to the debtors' expert)", "period": "2018–2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-suit-examiner-transfers", "c-suit-kirschner-acquisitions", "c-suit-diversion-theory" ], "kind": "business" }, { "id": "r-edward-james-patrick-james", "from": "edward-james", "to": "patrick-james", "role": "Brother", "period": "Family relationship (not time-bound)", "status": "documented", "direction": "undirected", "role_group": "associations", "temporal_status": "current", "claim_ids": [ "c-suit-committee-ponzi", "c-crim-defendants", "c-lead-departures-sept" ], "kind": "family" }, { "id": "r-edward-james-optimus", "from": "edward-james", "to": "optimus", "role": "Controls the company, according to the creditors' committee", "period": "As of February 2026", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-suit-committee-tracing" ], "kind": "owns" }, { "id": "r-edward-james-jcmc", "from": "edward-james", "to": "jcmc", "role": "Controls the company, according to the creditors' committee", "period": "As of February 2026", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-suit-committee-tracing" ], "kind": "owns" }, { "id": "r-edward-james-onset", "from": "edward-james", "to": "onset", "role": "Personal investor alongside Onset in financings of First Brands, as alleged by the debtors, the creditors' committee and the debtors' expert", "period": "Before September 2025", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-suit-edward-onset-complaint", "c-suit-kirschner-edward", "c-suit-committee-tracing", "c-suit-lenders-onset", "c-spv-kirschner-onset" ], "kind": "business" }, { "id": "r-edward-james-helios", "from": "edward-james", "to": "helios", "role": "Holder of a $20.5 million interest, according to the debtors' expert", "period": "Before September 2025", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-suit-kirschner-edward" ], "kind": "owns" }, { "id": "r-fbg-edward-james", "from": "fbg", "to": "edward-james", "role": "Plaintiff in the debtors' suit against Edward James and Onset Financial", "period": "Filed January 9, 2026; stayed", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "current", "claim_ids": [ "c-suit-edward-onset-complaint" ], "kind": "legal" }, { "id": "r-black-diamond-bdo", "from": "black-diamond", "to": "bdo", "role": "Manager of funds suing BDO over its First Brands audits (No. cv-26-137992, Ohio)", "period": "Filed April 29, 2026; pending", "status": "reported", "direction": "directed", "role_group": "legal", "temporal_status": "current", "claim_ids": [ "c-gate-black-diamond" ], "kind": "legal" }, { "id": "r-michael-baker-paul-hastings", "from": "michael-baker", "to": "paul-hastings", "role": "Partner, including work as outside finance counsel to First Brands", "period": "Until August 2021", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-fdr-baker-sandor", "c-lead-paul-hastings" ], "kind": "directs" }, { "id": "r-michael-baker-fbg", "from": "michael-baker", "to": "fbg", "role": "Chief corporate strategy officer and director (board member)", "period": "August 2021 to September 25, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-fdr-baker-sandor", "c-lead-officers-2023", "c-lead-departures-sept" ], "kind": "directs" }, { "id": "r-michael-baker-fbg-2", "from": "michael-baker", "to": "fbg", "role": "Defendant in a civil suit in the First Brands bankruptcy over the SPV financings", "period": "Pending in 2026", "status": "reported", "direction": "directed", "role_group": "legal", "temporal_status": "current", "claim_ids": [ "c-suit-baker" ], "kind": "legal" }, { "id": "r-fbg-qingdao-sunsong", "from": "fbg", "to": "qingdao-sunsong", "role": "Customer purchasing products from the supplier, as described in a congressional letter", "period": "As of September 2024", "status": "reported", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-gate-house-letter" ], "kind": "business" }, { "id": "r-patrick-james-edward-james", "from": "patrick-james", "to": "edward-james", "role": "Co-defendant in United States v. Patrick James and Edward James, 26 Cr. 29 (AT) (S.D.N.Y.)", "period": "Indicted January 2026; pending at the October 2026 cutoff", "status": "documented", "direction": "undirected", "role_group": "legal", "temporal_status": "current", "claim_ids": [ "c-crim-counts", "c-crim-indictment-filed", "c-crim-pleas", "c-crim-trial-schedule", "c-crim-release-modified", "c-crim-pretrial-motions" ], "kind": "legal" }, { "id": "r-edward-james-fbg-2", "from": "edward-james", "to": "fbg", "role": "Executive vice president and board member (former senior vice president in the indictment and in the company's January 2026 statement)", "period": "Until September 25, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-crim-defendants", "c-lead-officers-2023", "c-lead-departures-sept", "c-lead-edward-title", "c-fdr-edward-lenders" ], "kind": "directs" }, { "id": "r-neal-goldman-fbg", "from": "neal-goldman", "to": "fbg", "role": "Independent manager on the boards of managers and member of the special committee", "period": "From September 17, 2025; deemed to resign on conversion under the proposed conversion order", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-boards-2025", "c-lead-special-committee", "c-lead-filing-consent", "c-lead-duster-committee" ], "kind": "directs" }, { "id": "r-charles-moore-alvarez-marsal", "from": "charles-moore", "to": "alvarez-marsal", "role": "Managing director", "period": "as of September 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-cro", "c-lead-moore-interim", "c-lead-am-moore-kosturos" ], "kind": "directs" }, { "id": "r-charles-moore-fbg-2", "from": "charles-moore", "to": "fbg", "role": "Interim chief executive officer", "period": "from October 13, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-moore-interim", "c-lead-james-resignation", "c-fac-servicing" ], "kind": "directs" }, { "id": "r-daniel-jerneycic-fbg", "from": "daniel-jerneycic", "to": "fbg", "role": "Co-chief restructuring officer", "period": "from October 24, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-moore-interim" ], "kind": "directs" }, { "id": "r-gaurav-malhotra-fbg", "from": "gaurav-malhotra", "to": "fbg", "role": "Co-chief restructuring officer", "period": "from October 24, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-moore-interim" ], "kind": "directs" }, { "id": "r-shekhar-kumar-paul-hastings", "from": "shekhar-kumar", "to": "paul-hastings", "role": "Partner (former), including work as outside finance counsel to First Brands", "period": "until August 2021", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-paul-hastings" ], "kind": "directs" }, { "id": "r-patrick-james-phx-merger-sub", "from": "patrick-james", "to": "phx-merger-sub", "role": "Controlling person, director, president and chief executive officer", "period": "appointed December 2022", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-phx-officers" ], "kind": "directs" }, { "id": "r-michael-baker-phx-merger-sub", "from": "michael-baker", "to": "phx-merger-sub", "role": "Director, chief corporate strategy officer and secretary", "period": "appointed December 2022", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-phx-officers" ], "kind": "directs" }, { "id": "r-edward-james-phx-merger-sub", "from": "edward-james", "to": "phx-merger-sub", "role": "Executive vice president", "period": "appointed December 2022", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-phx-officers" ], "kind": "directs" }, { "id": "r-stephen-graham-phx-merger-sub", "from": "stephen-graham", "to": "phx-merger-sub", "role": "Chief financial officer and treasurer", "period": "appointed December 2022", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-phx-officers" ], "kind": "directs" }, { "id": "r-shekhar-kumar-phx-merger-sub", "from": "shekhar-kumar", "to": "phx-merger-sub", "role": "Corporate finance manager", "period": "appointed December 2022", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-phx-officers" ], "kind": "directs" }, { "id": "r-patrick-james-horizon-global-2", "from": "patrick-james", "to": "horizon-global", "role": "Director, chief executive officer and president", "period": "from February 8, 2023", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-horizon-board" ], "kind": "directs" }, { "id": "r-michael-baker-horizon-global", "from": "michael-baker", "to": "horizon-global", "role": "Director", "period": "from February 8, 2023", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-horizon-board" ], "kind": "directs" }, { "id": "r-stephen-graham-horizon-global", "from": "stephen-graham", "to": "horizon-global", "role": "Chief financial officer", "period": "from February 8, 2023", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-horizon-board" ], "kind": "directs" }, { "id": "r-paul-kosturos-alvarez-marsal", "from": "paul-kosturos", "to": "alvarez-marsal", "role": "Managing director, Alvarez & Marsal private equity services operations group (legal employing entity not named in the profile)", "period": "since 2009", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-am-moore-kosturos" ], "kind": "directs" }, { "id": "r-daniel-jerneycic-alvarez-marsal", "from": "daniel-jerneycic", "to": "alvarez-marsal", "role": "Managing director, Alvarez & Marsal restructuring and turnaround practice (legal employing entity not named in the profile)", "period": "From May 2023", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-am-co-cros" ], "kind": "directs" }, { "id": "r-gaurav-malhotra-alvarez-marsal", "from": "gaurav-malhotra", "to": "alvarez-marsal", "role": "Managing director, Alvarez & Marsal restructuring and turnaround practice; member of its executive committee (legal employing entity not named in the profile)", "period": "Executive committee member from November 2024", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-am-co-cros" ], "kind": "directs" }, { "id": "r-benjamin-duster-cardone", "from": "benjamin-duster", "to": "cardone", "role": "Director (board member) according to a market-data profile", "period": "start date not stated", "status": "reported", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-duster-cardone" ], "kind": "directs" }, { "id": "r-shekhar-kumar-trico-limited", "from": "shekhar-kumar", "to": "trico-limited", "role": "Director", "period": "from January 31, 2022 (active in the register)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "current", "claim_ids": [ "c-lead-trico-limited-directors", "c-lead-kumar-uk" ], "kind": "directs" }, { "id": "r-michael-baker-trico-limited", "from": "michael-baker", "to": "trico-limited", "role": "Director", "period": "January 31, 2022 to September 25, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-trico-limited-directors" ], "kind": "directs" }, { "id": "r-stephen-graham-trico-limited", "from": "stephen-graham", "to": "trico-limited", "role": "Director and company secretary", "period": "December 16, 2016 to October 22, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-trico-limited-directors" ], "kind": "directs" }, { "id": "r-jay-machado-trico-limited", "from": "jay-machado", "to": "trico-limited", "role": "Director", "period": "October 21, 2020 to June 13, 2023", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-trico-limited-2020" ], "kind": "directs" }, { "id": "r-brian-troyer-trico-limited", "from": "brian-troyer", "to": "trico-limited", "role": "Director", "period": "October 21, 2020 to January 31, 2022", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-trico-limited-2020" ], "kind": "directs" }, { "id": "r-david-parker-trico-limited", "from": "david-parker", "to": "trico-limited", "role": "Director", "period": "January 15 to December 16, 2016 and October 4, 2018 to August 10, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-trico-limited-directors", "c-lead-parker-uk" ], "kind": "directs" }, { "id": "r-david-parker-trico-suzhou", "from": "david-parker", "to": "trico-suzhou", "role": "Director", "period": "January 15 to December 16, 2016 and October 4, 2018 to August 10, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-parker-uk" ], "kind": "directs" }, { "id": "r-shekhar-kumar-trico-suzhou", "from": "shekhar-kumar", "to": "trico-suzhou", "role": "Director", "period": "from January 18, 2022 (active in the register)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "current", "claim_ids": [ "c-lead-kumar-uk" ], "kind": "directs" }, { "id": "r-shekhar-kumar-qualitor-uk", "from": "shekhar-kumar", "to": "qualitor-uk", "role": "Director", "period": "from July 29, 2022; company dissolved", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-kumar-uk" ], "kind": "directs" }, { "id": "r-shekhar-kumar-horizon-global-digital", "from": "shekhar-kumar", "to": "horizon-global-digital", "role": "Director", "period": "from February 8, 2023; company dissolved", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-kumar-uk" ], "kind": "directs" }, { "id": "r-shekhar-kumar-cp-witter", "from": "shekhar-kumar", "to": "cp-witter", "role": "Director", "period": "February 8, 2023 to March 11, 2026", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-kumar-uk" ], "kind": "directs" }, { "id": "r-shekhar-kumar-horizon-global-european", "from": "shekhar-kumar", "to": "horizon-global-european", "role": "Director", "period": "February 8, 2023 to March 11, 2026", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-kumar-uk" ], "kind": "directs" }, { "id": "r-stephen-graham-trico-suzhou", "from": "stephen-graham", "to": "trico-suzhou", "role": "Director", "period": "December 16, 2016 to October 22, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-baker-graham-uk" ], "kind": "directs" }, { "id": "r-michael-baker-qualitor-uk", "from": "michael-baker", "to": "qualitor-uk", "role": "Director", "period": "from July 29, 2022; company dissolved", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-baker-graham-uk" ], "kind": "directs" }, { "id": "r-michael-baker-trico-suzhou", "from": "michael-baker", "to": "trico-suzhou", "role": "Director", "period": "January 18, 2022 to September 25, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-baker-graham-uk" ], "kind": "directs" }, { "id": "r-shekhar-kumar-ultinon-germany", "from": "shekhar-kumar", "to": "ultinon-germany", "role": "Former managing director (German register as shown by an aggregator)", "period": "dates not stated", "status": "reported", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-ultinon-germany-mds" ], "kind": "directs" }, { "id": "r-michael-baker-ultinon-germany", "from": "michael-baker", "to": "ultinon-germany", "role": "Former managing director (German register as shown by an aggregator)", "period": "dates not stated", "status": "reported", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-ultinon-germany-mds" ], "kind": "directs" }, { "id": "r-stephen-graham-ultinon-germany", "from": "stephen-graham", "to": "ultinon-germany", "role": "Former managing director (German register as shown by an aggregator)", "period": "dates not stated", "status": "reported", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-ultinon-germany-mds" ], "kind": "directs" }, { "id": "r-david-parker-ultinon-germany", "from": "david-parker", "to": "ultinon-germany", "role": "Former managing director (German register as shown by an aggregator)", "period": "dates not stated", "status": "reported", "direction": "directed", "role_group": "people", "temporal_status": "historical", "claim_ids": [ "c-lead-ultinon-germany-mds" ], "kind": "directs" }, { "id": "r-lumileds-ultinon-germany", "from": "lumileds", "to": "ultinon-germany", "role": "Former direct parent (German register as shown by an aggregator)", "period": "dates not stated", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "historical", "claim_ids": [ "c-lead-ultinon-germany-mds" ], "kind": "owns" }, { "id": "r-shekhar-kumar-global-assets-gmbh", "from": "shekhar-kumar", "to": "global-assets-gmbh", "role": "Managing director (shown as current by an aggregator)", "period": "dates not stated", "status": "reported", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-kumar-global-assets" ], "kind": "directs" }, { "id": "r-patrick-james-fbgh-2", "from": "patrick-james", "to": "fbgh", "role": "Manager on the board of managers", "period": "As of September 2025 (until the departures of September–October 2025 where recorded)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-boards-2025", "c-lead-filing-consent" ], "kind": "directs" }, { "id": "r-patrick-james-fbgi", "from": "patrick-james", "to": "fbgi", "role": "Manager on the board of managers", "period": "As of September 2025 (until the departures of September–October 2025 where recorded)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-boards-2025", "c-lead-filing-consent" ], "kind": "directs" }, { "id": "r-patrick-james-viceroy", "from": "patrick-james", "to": "viceroy", "role": "Manager on the board of managers", "period": "As of September 2025 (until the departures of September–October 2025 where recorded)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-boards-2025", "c-lead-filing-consent" ], "kind": "directs" }, { "id": "r-stephen-graham-fbgh", "from": "stephen-graham", "to": "fbgh", "role": "Manager on the board of managers", "period": "As of September 2025 (until the departures of September–October 2025 where recorded)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-boards-2025", "c-lead-filing-consent" ], "kind": "directs" }, { "id": "r-stephen-graham-fbgi", "from": "stephen-graham", "to": "fbgi", "role": "Manager on the board of managers", "period": "As of September 2025 (until the departures of September–October 2025 where recorded)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-boards-2025", "c-lead-filing-consent" ], "kind": "directs" }, { "id": "r-stephen-graham-viceroy", "from": "stephen-graham", "to": "viceroy", "role": "Manager on the board of managers", "period": "As of September 2025 (until the departures of September–October 2025 where recorded)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-boards-2025", "c-lead-filing-consent" ], "kind": "directs" }, { "id": "r-shekhar-kumar-fbgh", "from": "shekhar-kumar", "to": "fbgh", "role": "Manager on the board of managers", "period": "As of September 2025 (until the departures of September–October 2025 where recorded)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-boards-2025", "c-lead-filing-consent" ], "kind": "directs" }, { "id": "r-shekhar-kumar-fbgi", "from": "shekhar-kumar", "to": "fbgi", "role": "Manager on the board of managers", "period": "As of September 2025 (until the departures of September–October 2025 where recorded)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-boards-2025", "c-lead-filing-consent" ], "kind": "directs" }, { "id": "r-shekhar-kumar-viceroy", "from": "shekhar-kumar", "to": "viceroy", "role": "Manager on the board of managers", "period": "As of September 2025 (until the departures of September–October 2025 where recorded)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-boards-2025", "c-lead-filing-consent" ], "kind": "directs" }, { "id": "r-neal-goldman-fbgh", "from": "neal-goldman", "to": "fbgh", "role": "Independent manager on the board of managers and member of the special committee", "period": "From September 17, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-boards-2025", "c-lead-special-committee", "c-lead-filing-consent" ], "kind": "directs" }, { "id": "r-neal-goldman-fbgi", "from": "neal-goldman", "to": "fbgi", "role": "Independent manager on the board of managers and member of the special committee", "period": "From September 17, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-boards-2025", "c-lead-special-committee", "c-lead-filing-consent" ], "kind": "directs" }, { "id": "r-neal-goldman-viceroy", "from": "neal-goldman", "to": "viceroy", "role": "Independent manager on the board of managers and member of the special committee", "period": "From September 17, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-boards-2025", "c-lead-special-committee", "c-lead-filing-consent" ], "kind": "directs" }, { "id": "r-william-transier-fbgh", "from": "william-transier", "to": "fbgh", "role": "Independent manager on the board of managers and member of the special committee", "period": "From September 17, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-boards-2025", "c-lead-special-committee", "c-lead-filing-consent" ], "kind": "directs" }, { "id": "r-william-transier-fbgi", "from": "william-transier", "to": "fbgi", "role": "Independent manager on the board of managers and member of the special committee", "period": "From September 17, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-boards-2025", "c-lead-special-committee", "c-lead-filing-consent" ], "kind": "directs" }, { "id": "r-william-transier-viceroy", "from": "william-transier", "to": "viceroy", "role": "Independent manager on the board of managers and member of the special committee", "period": "From September 17, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-boards-2025", "c-lead-special-committee", "c-lead-filing-consent" ], "kind": "directs" }, { "id": "r-charles-moore-fbgh", "from": "charles-moore", "to": "fbgh", "role": "Chief restructuring officer of the parent entity", "period": "From September 2025 (board resolutions of September 24 and 26, 2025)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-cro" ], "kind": "directs" }, { "id": "r-charles-moore-fbgi", "from": "charles-moore", "to": "fbgi", "role": "Chief restructuring officer of the parent entity", "period": "From September 2025 (board resolutions of September 24 and 26, 2025)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-cro" ], "kind": "directs" }, { "id": "r-charles-moore-viceroy", "from": "charles-moore", "to": "viceroy", "role": "Chief restructuring officer of the parent entity", "period": "From September 2025 (board resolutions of September 24 and 26, 2025)", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-lead-cro" ], "kind": "directs" }, { "id": "r-fbg-albion-realty", "from": "fbg", "to": "albion-realty", "role": "Plaintiff, with the affiliated debtors, in adversary proceeding 25-03803", "period": "Filed November 3, 2025; discovery stayed since April 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "current", "claim_ids": [ "c-suit-complaint", "c-suit-injunction" ], "kind": "legal" }, { "id": "r-fbg-alester", "from": "fbg", "to": "alester", "role": "Plaintiff, with the affiliated debtors, in adversary proceeding 25-03803", "period": "Filed November 3, 2025; discovery stayed since April 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "current", "claim_ids": [ "c-suit-complaint", "c-suit-injunction" ], "kind": "legal" }, { "id": "r-fbg-battery-park-2", "from": "fbg", "to": "battery-park", "role": "Plaintiff, with the affiliated debtors, in adversary proceeding 25-03803", "period": "Filed November 3, 2025; discovery stayed since April 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "current", "claim_ids": [ "c-suit-complaint" ], "kind": "legal" }, { "id": "r-fbg-bond-street", "from": "fbg", "to": "bond-street", "role": "Plaintiff, with the affiliated debtors, in adversary proceeding 25-03803", "period": "Filed November 3, 2025; discovery stayed since April 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "current", "claim_ids": [ "c-suit-complaint", "c-suit-injunction" ], "kind": "legal" }, { "id": "r-fbg-ignite", "from": "fbg", "to": "ignite", "role": "Plaintiff, with the affiliated debtors, in adversary proceeding 25-03803", "period": "Filed November 3, 2025; discovery stayed since April 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "current", "claim_ids": [ "c-suit-complaint", "c-suit-injunction" ], "kind": "legal" }, { "id": "r-fbg-larchmont-2", "from": "fbg", "to": "larchmont", "role": "Plaintiff, with the affiliated debtors, in adversary proceeding 25-03803", "period": "Filed November 3, 2025; discovery stayed since April 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "current", "claim_ids": [ "c-suit-complaint", "c-suit-injunction" ], "kind": "legal" }, { "id": "r-fbg-pegasus-aviation", "from": "fbg", "to": "pegasus-aviation", "role": "Plaintiff, with the affiliated debtors, in adversary proceeding 25-03803", "period": "Filed November 3, 2025; discovery stayed since April 2026", "status": "documented", "direction": "directed", "role_group": "legal", "temporal_status": "current", "claim_ids": [ "c-suit-complaint", "c-suit-injunction" ], "kind": "legal" }, { "id": "r-starlight-evolution-fund", "from": "starlight", "to": "evolution-fund", "role": "Borrower under an uncommitted inventory finance agreement of March 28, 2024 (advances of up to $150 million); Evolution Credit Opportunity Master Fund II-B, L.P. is lender", "period": "From March 28, 2024", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-evolution", "c-spv-evolution-default" ], "kind": "business" }, { "id": "r-fbgh-onset", "from": "fbgh", "to": "onset", "role": "Guarantor of the Onset master leases of Carnaby Inventory IV and Carnaby FA", "period": "From June 28, 2022 and October 24, 2023", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-onset-leases" ], "kind": "business" }, { "id": "r-viceroy-onset-2", "from": "viceroy", "to": "onset", "role": "Guarantor of the Onset master leases of Carnaby Inventory IV and Carnaby FA", "period": "From June 28, 2022 and October 24, 2023", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-onset-leases" ], "kind": "business" }, { "id": "r-carnaby-holdings-onset", "from": "carnaby-holdings", "to": "onset", "role": "Guarantor of the Onset master leases of Carnaby Inventory IV and Carnaby FA", "period": "From June 28, 2022 and October 24, 2023", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "unknown", "claim_ids": [ "c-spv-onset-leases" ], "kind": "business" }, { "id": "r-point-bonita-lam-tfg-i", "from": "point-bonita", "to": "lam-tfg-i", "role": "Owner (Point Bonita master fund) of LAM TFG I SPV LLC, as stated by Jefferies", "period": "As of March 2026", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "unknown", "claim_ids": [ "c-fac-western-alliance" ], "kind": "owns" }, { "id": "r-brake-parts-inc-ras", "from": "brake-parts-inc", "to": "ras", "role": "Uses Registered Agent Solutions, Inc. as registered agent; legal address in Dover, Delaware", "period": "As recorded in the LEI record", "status": "documented", "direction": "directed", "role_group": "infrastructure", "temporal_status": "unknown", "claim_ids": [ "c-grp-bpi-gleif" ], "kind": "other" }, { "id": "r-tristate-capital-patrick-james", "from": "tristate-capital", "to": "patrick-james", "role": "Plaintiff in TriState Capital Bank v. Red Rock Stamping LLC et al. (N.D. Ohio, No. 09-cv-01455); reported settled with a $1 million payment", "period": "Filed June 26, 2009", "status": "reported", "direction": "directed", "role_group": "legal", "temporal_status": "historical", "claim_ids": [ "c-fdr-tristate" ], "kind": "legal" }, { "id": "r-tristate-capital-red-rock-stamping", "from": "tristate-capital", "to": "red-rock-stamping", "role": "Plaintiff in TriState Capital Bank v. Red Rock Stamping LLC et al. (N.D. Ohio, No. 09-cv-01455)", "period": "Filed June 26, 2009", "status": "reported", "direction": "directed", "role_group": "legal", "temporal_status": "historical", "claim_ids": [ "c-fdr-tristate" ], "kind": "legal" }, { "id": "r-patrick-james-red-rock-stamping", "from": "patrick-james", "to": "red-rock-stamping", "role": "Controlled the company, as alleged in the 2009 TriState Capital Bank suit (recounted in the debtors' complaint)", "period": "As alleged in 2009", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "historical", "claim_ids": [ "c-fdr-tristate" ], "kind": "owns" }, { "id": "r-banco-santander-fbg", "from": "banco-santander", "to": "fbg", "role": "Led the marketing of a proposed term-loan financing for the business outside North America; ended without sufficient lender interest", "period": "Mid- to late 2024", "status": "documented", "direction": "directed", "role_group": "business", "temporal_status": "historical", "claim_ids": [ "c-debt-refinancing" ], "kind": "business" }, { "id": "r-jame-donath-liberty-i", "from": "jame-donath", "to": "liberty-i", "role": "Independent director", "period": "From November 21, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-intl-donath" ], "kind": "directs" }, { "id": "r-jame-donath-liberty-ii", "from": "jame-donath", "to": "liberty-ii", "role": "Independent director", "period": "From November 21, 2025", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-intl-donath" ], "kind": "directs" }, { "id": "r-jame-donath-ultinon-holding", "from": "jame-donath", "to": "ultinon-holding", "role": "Director", "period": "From February 3, 2026", "status": "documented", "direction": "directed", "role_group": "people", "temporal_status": "unknown", "claim_ids": [ "c-intl-donath" ], "kind": "directs" }, { "id": "r-patrick-james-vari-form", "from": "patrick-james", "to": "vari-form", "role": "Described in the debtors' complaint as the founder's conglomerate, a segment of which the founder allegedly promoted as an independent asset", "period": "As alleged for the period before the 2018 Michigan suit", "status": "reported", "direction": "directed", "role_group": "ownership", "temporal_status": "historical", "claim_ids": [ "c-fdr-variform" ], "kind": "owns" } ], "history": [], "claims": [ { "id": "c-id-petition", "kind": "fact", "text": "First Brands Group, LLC's voluntary Chapter 11 petition (Official Form 201) gives its federal employer identification number as 46-2872032, lists Crowne Automotive Aftermarket, LLC and Trico Group, LLC as other names used in the previous eight years, states its principal place of business as 127 Public Square, Suite 5300, Cleveland, Ohio 44114 and its website as firstbrandsgroup.com, and classifies its business under NAICS code 5511, management of companies and enterprises.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002" ], "entity_ids": [ "fbg" ] }, { "id": "c-id-delaware-llc", "kind": "fact", "text": "First Brands Group, LLC is a Delaware limited liability company with its principal place of business in Cleveland, Ohio. Its Legal Entity Identifier record at GLEIF names the Delaware Division of Corporations as registration authority with entity number 5304130, gives the legal form as a limited liability company, records the entity as created on May 14, 2013 and shows the entity status as active.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-004", "src-038" ], "entity_ids": [ "fbg" ] }, { "id": "c-id-lei", "kind": "fact", "text": "First Brands Group, LLC holds the Legal Entity Identifier 2549005IXRZR7KSBJD91, first registered on December 17, 2021. GLEIF lists the registration as lapsed: the record was last updated on October 18, 2025 and was due for renewal the same day. The LEI record gives the legal address as c/o Registered Agent Solutions, Inc., 838 Walker Road, Suite 21-2, Dover, Delaware 19904 and the headquarters as 127 Public Square, Suite 5300, Cleveland, Ohio 44114. A GLEIF full-text search for \"First Brands Group\" published on October 15, 2026 returned only this record.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-004", "src-038" ], "entity_ids": [ "fbg", "ras" ] }, { "id": "c-id-formation-date", "kind": "unresolved", "text": "The records give different formation dates for First Brands Group, LLC. The tender offer document filed with the SEC in January 2023 describes it as a Delaware limited liability company formed on June 10, 2020, while its GLEIF record gives May 14, 2013 as the entity's creation date, and the debtors' first-day declaration says First Brands was formed in 2013 under the name Crowne Industrial Group.", "qualification": "The retained records do not explain the difference between the 2013 and 2020 dates; no Delaware certificate of formation or conversion is in the record.", "response": "", "outcome": "", "source_ids": [ "src-013", "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "c-id-register-copy", "kind": "fact", "text": "A third-party copy of the Delaware register lists entity number 5304130 under the name Trico Group, LLC, one of the former names given in the petition, with The Corporation Trust Company in Wilmington as registered agent. The same copy shows foreign (branch) registrations of First Brands Group, LLC in Michigan under number 802159536 and in Ohio under number 4132192.", "qualification": "The register copy is an undated third-party snapshot that does not show the formation date or status; the later GLEIF record names Registered Agent Solutions, Inc. as the address of the legal seat.", "response": "", "outcome": "", "source_ids": [ "src-017" ], "entity_ids": [ "fbg" ] }, { "id": "c-id-offer-brands", "kind": "fact", "text": "In the January 2023 tender offer for Horizon Global, First Brands Group, LLC described itself as a global automotive parts company selling through brands including Raybestos brakes, Centric Parts brake components, FRAM and Luber-finer filtration products, TRICO and ANCO wiper blades, Carter fuel and water pumps, Autolite spark plugs, StrongArm lift supports and StopTech performance brakes, with its office at 127 Public Square, Suite 5300, Cleveland, Ohio.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-013" ], "entity_ids": [ "fbg", "horizon-global" ] }, { "id": "c-id-product-categories", "kind": "fact", "text": "According to the debtors' first-day declaration, the group's brands fall into four product categories. By the company's estimates for the preceding twelve months, braking products such as Raybestos, Centric Parts, StopTech and Cardone accounted for about 33% of revenue; filtration products such as Luber Finer, PetroClear, Jasper Rubber Products and FRAM about 14%; vision and lighting products such as ANCO, Trico, Narva, Philips and Michelin about 29%; and repair and towing products such as Airtex, AutoLite, Carter Fuel Pumps, Reese and StrongArm about 24%.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "c-id-workforce", "kind": "fact", "text": "The first-day declaration states that, as of the petition date, the group employed about 26,000 people across five continents, about 6,000 of them employed by the debtors in the United States. About 75% of revenue came from products sourced in North America and 25% from products sourced elsewhere. The company operated two distribution centers and 36 factories in Mexico, where about 14,000 employees were based and from where 57% of its U.S. sales volume was sourced.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "c-id-channels", "kind": "fact", "text": "The first-day declaration states that, by the company's estimates for the preceding twelve months, about 82% of revenue came from aftermarket parts, 13% from sales to original equipment manufacturers and about 5% from specialty and industrial customers. Aftermarket customers included large automotive retailers such as Advance Auto Parts, AutoZone, O'Reilly and NAPA Auto Parts, wholesale distributors and national retailers including Walmart, Costco and Amazon; the top ten customers accounted for less than half of total net sales over the previous three years.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "c-id-growth-defense", "kind": "attributed", "text": "In a court filing, counsel for Patrick James described First Brands as owning 25 well-known brands and supplying the largest aftermarket customers, including NAPA Auto Parts, AutoZone, O'Reilly, Advance Auto Parts, Walmart and Costco, as well as original equipment manufacturers. The filing says sales grew from $500 million in 2018 to $5 billion in 2024 and attributes the liquidity squeeze that preceded the Chapter 11 filings to tariffs, which raised landed inventory costs by about $99 million between April and August 2025.", "qualification": "Account given by the founder's counsel in defending against the estate's claims; the sales figures and the tariff explanation are the filer's assertions. The debtors' own first-day declaration also cites tariffs and mounting debt and lease obligations, particularly to the lessor Onset, as causes of the liquidity crisis.", "response": "", "outcome": "", "source_ids": [ "src-049", "src-001" ], "entity_ids": [ "patrick-james", "fbg", "onset" ] }, { "id": "c-id-rochester-hills", "kind": "fact", "text": "First Brands Group, LLC's press release of October 13, 2025 announcing a leadership transition was issued with a Rochester Hills, Michigan dateline and described the company as a leading global supplier of aftermarket automotive parts; the Chapter 11 petition gives its principal place of business as 127 Public Square, Cleveland, Ohio.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-088" ], "entity_ids": [ "fbg" ] }, { "id": "c-own-fbgh-holders", "kind": "fact", "text": "According to the consolidated corporate ownership statement filed with the Chapter 11 petitions on September 28, 2025, Viceroy Private Capital, LLC (itself a debtor), Brake Parts Holdings, Inc. and Aztec Corporation (both non-debtors) own 66%, 33% and 1% respectively of the membership interests in First Brands Group Holdings, LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002", "src-010" ], "entity_ids": [ "viceroy", "bph", "aztec", "fbgh" ] }, { "id": "c-own-mayfair-viceroy", "kind": "fact", "text": "The same ownership statement says that the non-debtor Mayfair Enterprises, LLC owns 100% of the membership interests in Viceroy Private Capital, LLC, the holder of the 66% stake in First Brands Group Holdings, LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002" ], "entity_ids": [ "mayfair", "viceroy", "fbgh" ] }, { "id": "c-own-no-other-holder", "kind": "fact", "text": "The debtors stated in the ownership statement that, to the best of their knowledge and belief, no corporation other than those it lists directly or indirectly owns 10% or more of the membership interests of any debtor.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002" ], "entity_ids": [ "fbg" ] }, { "id": "c-own-chain-to-fbg", "kind": "fact", "text": "Below First Brands Group Holdings, LLC the chain runs through First Brands Group Intermediate, LLC: the ownership statement says Holdings owns, directly or indirectly, 100% of all debtors other than the Viceroy debtors, and the petition's list of equity holders names First Brands Group Intermediate, LLC, of 127 Public Square, Suite 5300, Cleveland, as the holder of 100% of the units of First Brands Group, LLC. A docket summary records that Intermediate is wholly owned by Holdings.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002", "src-010" ], "entity_ids": [ "fbgh", "fbgi", "fbg", "viceroy" ] }, { "id": "c-own-fbgi-former-name", "kind": "fact", "text": "First Brands Group Intermediate, LLC was formerly named Trico Group Holdings, LLC. It is the parent party to the group's asset-based lending (ABL) credit agreement, under which First Brands Group, LLC is a borrower.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-010" ], "entity_ids": [ "fbgi", "fbg" ] }, { "id": "c-own-spv-silo", "kind": "fact", "text": "The off-balance-sheet special purpose vehicles sit outside the First Brands Group, LLC chain. The ownership statement says Viceroy Private Capital, LLC owns, directly or indirectly, 100% of twenty debtors, including Broad Street Financial Holdings, LLC, Broad Street Financial, LLC, Carnaby Capital Holdings, LLC, Carnaby FA, LLC, Carnaby Inventory II, LLC, Carnaby Inventory III, LLC, Carnaby Inventory IV, LLC, Global Assets GmbH, Global Assets LLC, Patterson Inventory, LLC and Starlight Inventory I, LLC and their holding companies. The first-day declaration states that the obligors on the off-balance-sheet obligations are subsidiaries of Viceroy and Carnaby Capital Holdings, LLC and are not subsidiaries of First Brands Group, LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-002" ], "entity_ids": [ "viceroy", "broad-street-holdings", "broad-street", "carnaby-holdings", "carnaby-fa", "carnaby-ii", "carnaby-iii", "carnaby-iv", "global-assets-gmbh", "global-assets-llc", "patterson", "starlight", "fbg" ] }, { "id": "c-own-founder-declaration", "kind": "fact", "text": "The debtors' first-day declaration states that the company's equity is owned 100% by its founder and sole equity holder, and that the 112 debtor entities are each 100% indirectly owned by the founder; the declaration refers to this person as \"the Founder\" without giving a name in these passages.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "c-own-complaint", "kind": "fact", "text": "In their verified adversary complaint of November 3, 2025 the debtors state that Patrick James founded First Brands in 2013 and that the group, which spans five continents and comprises more than 100 entities, is entirely 100% indirectly owned by James.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003" ], "entity_ids": [ "patrick-james", "fbg" ] }, { "id": "c-own-offer-2023", "kind": "fact", "text": "In the tender offer document for Horizon Global filed with the SEC on January 9, 2023, First Brands Group, LLC disclosed that Patrick James was the sole owner of First Brands Group, LLC, listed James as its controlling person, a director, Chairman and Chief Executive Officer, and stated that James had been a board member, Chairman and Chief Executive Officer for more than five years.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-009", "src-013" ], "entity_ids": [ "patrick-james", "fbg", "horizon-global" ] }, { "id": "c-own-ec-notification", "kind": "fact", "text": "In a merger notification received by the European Commission on February 12, 2025 (case M.11892), the notifying parties stated that Global Technologies S.à r.l., a 100% subsidiary of Global Technologies Partners, LLC, would acquire sole control of Novares Group SAS, and that Global Technologies Partners, LLC is ultimately owned by Patrick James, who is also the ultimate owner of First Brands Group, LLC.", "qualification": "The description was prepared by the notifying parties under their sole responsibility; the Commission states that it does not prejudge its view of the transaction.", "response": "", "outcome": "", "source_ids": [ "src-093" ], "entity_ids": [ "gt-sarl", "gt-partners", "novares", "patrick-james", "fbg" ] }, { "id": "c-own-counsel-holdings", "kind": "fact", "text": "In a motion to dismiss the estate's adversary complaint dated December 15, 2025, counsel for Patrick James described First Brands Group Holdings, LLC as a Delaware limited liability company owned by Mr. James and argued that the complaint did not account for this structure.", "qualification": "The motion describes ownership without stating the intermediate holders; the debtors' ownership statement lists Viceroy Private Capital, Brake Parts Holdings and Aztec Corporation as the direct members of Holdings.", "response": "", "outcome": "", "source_ids": [ "src-026" ], "entity_ids": [ "patrick-james", "fbgh", "viceroy", "bph", "aztec" ] }, { "id": "c-own-cro-testimony", "kind": "fact", "text": "At a hearing in the adversary proceeding on November 10, 2025, the debtors' Chief Restructuring Officer Charles Moore testified that the group's more than 100 entities \"eventually roll up to ownership by Mr. Patrick James\" and, asked whether James was the sole owner of each of them, answered: \"That's my understanding.\"", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026" ], "entity_ids": [ "charles-moore", "patrick-james", "fbg" ] }, { "id": "c-own-direct-holders", "kind": "attributed", "text": "A press report on the October 8, 2025 agreed order between the debtors, Patrick James and the equity holders Mayfair Enterprises, LLC, Aztec Corporation and Brake Parts Holdings, Inc. stated, citing the organisational chart in the debtors' first-day papers, that these entities are direct and indirect owners of the debtors' equity and that James is the direct owner of the equity holders.", "qualification": "Single press account of the chart; the retained text of the organisational chart attached to the petition shows an \"Equity Owner\" box above Aztec Corporation (Ohio), Brake Parts Holdings, Inc. and Mayfair Enterprises, LLC without a legible name, and no official document in the record names the owners of these three companies.", "response": "", "outcome": "", "source_ids": [ "src-006", "src-002" ], "entity_ids": [ "patrick-james", "mayfair", "aztec", "bph", "fbg" ] }, { "id": "c-own-gleif-exception", "kind": "fact", "text": "The GLEIF record of First Brands Group, LLC names no parent entity: for both its direct and its ultimate accounting consolidation parent it declares the reporting exception \"NATURAL_PERSONS\" instead.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-004" ], "entity_ids": [ "fbg" ] }, { "id": "c-grp-debtors-engine-parts", "kind": "fact", "text": "The list of affiliated debtors attached to First Brands Group, LLC's Chapter 11 petition of September 28, 2025 includes Champion Laboratories, Inc. (EIN 37-0995645), Autolite Operations LLC (EIN 80-0697550), Carter Fuel Systems, LLC (EIN 46-2883328), Walbro LLC (EIN 38-2968944) together with Walbro Midco LLC and WEM US Co., and Toledo Molding & Die, LLC (EIN 34-1612053). Under the ownership statement, First Brands Group Holdings, LLC owns, directly or indirectly, 100% of every debtor outside the Viceroy group.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002" ], "entity_ids": [ "champion-labs", "autolite", "carter-fuel", "walbro", "tmd", "fbgh", "fbg", "viceroy" ] }, { "id": "c-grp-debtors-brakes-wipers", "kind": "fact", "text": "The same list of affiliated debtors includes Brake Parts Inc LLC (EIN 06-1248287), Cardone Industries, Inc. (EIN 23-3000982), Dalton Corporation (EIN 35-0259770), Qualitor Automotive, LLC (EIN 27-4496580), Trico Products Corporation (EIN 16-0665680), Pylon Manufacturing Corp. (EIN 59-1548344) with Pylon South Bend, Inc., and Hopkins Manufacturing Corporation (EIN 48-0575295) with Carrand Companies, Inc., Jasper Rubber Products, Inc. and ASC Industries, Inc.; as debtors outside the Viceroy group they are owned, directly or indirectly, 100% by First Brands Group Holdings, LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002" ], "entity_ids": [ "brake-parts-inc", "cardone", "dalton", "qualitor", "trico-products", "pylon", "hopkins-mfg", "fbgh", "fbg", "viceroy" ] }, { "id": "c-grp-debtors-uci", "kind": "fact", "text": "UCI International, LLC (EIN 16-1760186) appears on the affiliated-debtor list of First Brands Group, LLC's petition together with UCI International Holdings Parent Inc. and UCI International Holdings, Inc.; like the other debtors outside the Viceroy group it is owned, directly or indirectly, 100% by First Brands Group Holdings, LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002" ], "entity_ids": [ "uci-international", "fbgh", "fbg", "viceroy" ] }, { "id": "c-grp-debtors-horizon", "kind": "fact", "text": "Five Horizon Global companies are among the affiliated debtors listed with First Brands Group, LLC's petition: Horizon Global Corporation (EIN 47-3574483), Horizon Global Company LLC (EIN 47-3578964), Horizon Global Americas Inc. (EIN 38-2935446), Horizon International Holdings LLC and Horizon Euro Finance LLC. The court docket shows their cases, Nos. 25-90414 to 25-90418, opened on September 29, 2025 and jointly administered under case No. 25-90399; as debtors outside the Viceroy group they are owned, directly or indirectly, 100% by First Brands Group Holdings, LLC.", "qualification": "The affiliated-debtor list dates the petitions September 28, 2025, while the docket shows the Horizon cases opened on September 29, 2025.", "response": "", "outcome": "", "source_ids": [ "src-002", "src-040" ], "entity_ids": [ "horizon-global", "horizon-global-company", "horizon-global-americas", "fbg", "fbgh", "viceroy" ] }, { "id": "c-grp-joint-admin", "kind": "fact", "text": "The court docket records the cases of further subsidiaries as jointly administered under the First Brands Group, LLC case No. 25-90399, including FRAMAuto Holdings, LLC (No. 25-90401), Autolite Operations LLC (No. 25-90402), FRAM Group Operations LLC (No. 25-90403), FRAM Group IP LLC (No. 25-90404), Champion Laboratories, Inc. (No. 25-90445), Trico Products Corporation (No. 25-90472), Trico Holding Corporation (No. 25-90476), Brake Parts Inc LLC (No. 25-90477), Dalton Corporation (No. 25-90492) and Cardone Industries, Inc. (No. 25-90493).", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-040" ], "entity_ids": [ "framauto", "autolite", "fram-operations", "fram-ip", "champion-labs", "trico-products", "brake-parts-inc", "dalton", "cardone", "fbg" ] }, { "id": "c-grp-spv-cases", "kind": "fact", "text": "The special purpose vehicles filed first: the docket records Chapter 11 cases opened on September 24, 2025 for Global Assets LLC (No. 25-90383), Global Lease Assets Holdings, LLC, Carnaby Capital Holdings, LLC (No. 25-90385), Broad Street Financial Holdings, LLC (No. 25-90386), Broad Street Financial, LLC (No. 25-90387), Carnaby Inventory II, LLC (No. 25-90388), Carnaby Inventory III, LLC (No. 25-90390), Patterson Inventory, LLC (No. 25-90392, the lead case for the Patterson and Starlight entities) and Starlight Inventory I, LLC (No. 25-90394).", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-040", "src-001" ], "entity_ids": [ "global-assets-llc", "carnaby-holdings", "broad-street-holdings", "broad-street", "carnaby-ii", "carnaby-iii", "patterson", "starlight" ] }, { "id": "c-grp-common-address", "kind": "fact", "text": "The docket lists the debtors at one common address, 127 Public Square, Suite 5300, Cleveland, Ohio 44114, including operating companies such as Cardone Industries, Inc. and Carrand Companies, Inc. as well as the special purpose vehicles Carnaby Capital Holdings, LLC, Carnaby FA, LLC, Carnaby Inventory II, LLC, Carnaby Inventory III, LLC and Carnaby Inventory IV, LLC and their holding companies.", "qualification": "A shared mailing address in the case records reflects the group's common administration; it does not by itself show ownership or control.", "response": "", "outcome": "", "source_ids": [ "src-040" ], "entity_ids": [ "cardone", "carnaby-holdings", "carnaby-fa", "carnaby-ii", "carnaby-iii", "carnaby-iv", "fbg" ] }, { "id": "c-grp-james-signatory", "kind": "fact", "text": "Patrick James signed the omnibus consent authorizing the group's Chapter 11 filings as the Manager of 47 limited liability companies of the group, among them Autolite Operations LLC, FRAM Group Operations LLC, Horizon Global Company LLC, Carter Fuel Systems, LLC, Qualitor Automotive, LLC, Brake Parts Inc LLC, UCI International, LLC, Walbro LLC, Eagle Machining, LLC, Toledo Molding & Die, LLC and the special purpose vehicles Carnaby Inventory IV, LLC and Carnaby FA, LLC, which belong to the Viceroy group. James signed as the sole director of 39 group corporations, among them Pylon Manufacturing Corp., Trico Products Corporation, Cardone Industries, Inc., Champion Laboratories, Inc., Hopkins Manufacturing Corporation, Horizon Global Corporation, Horizon Global Americas Inc. and Dalton Corporation, and with Shekhar Kumar as one of the two directors of two Dalton manufacturing-facility corporations.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002" ], "entity_ids": [ "patrick-james", "autolite", "fram-operations", "horizon-global-company", "carter-fuel", "qualitor", "brake-parts-inc", "uci-international", "walbro", "eagle-machining", "tmd", "carnaby-iv", "carnaby-fa", "pylon", "trico-products", "cardone", "champion-labs", "hopkins-mfg", "horizon-global", "horizon-global-americas", "dalton", "shekhar-kumar" ] }, { "id": "c-grp-framauto", "kind": "fact", "text": "FRAMAuto Holdings, LLC, also known as Oculus LLC (EIN 83-3423482, address 127 Public Square, Suite 5300, Cleveland), filed its own Chapter 11 case, No. 25-90401, on September 28, 2025; a docket summary records it as 100% owned by First Brands Group, LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-010" ], "entity_ids": [ "framauto", "fbg" ] }, { "id": "c-grp-fram-florida", "kind": "fact", "text": "The Florida Division of Corporations lists FRAM Group Operations LLC as a foreign Delaware limited liability company registered in Florida on April 4, 2011 (document M11000001713, FEI/EIN 80-0697545), with FRAMAuto Holdings, LLC of 127 Public Square, Suite 5300, Cleveland as its member and authorized person and Registered Agent Solutions, Inc. as registered agent. The Florida registration was revoked on September 25, 2026 for failure to file an annual report, the last one having been filed on March 26, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-030", "src-029" ], "entity_ids": [ "fram-operations", "framauto", "ras" ] }, { "id": "c-grp-horizon-corp-gleif", "kind": "fact", "text": "GLEIF records Horizon Global Corporation (LEI 549300D1ZZV3IWN54G85) as an active Delaware corporation, register number 5669036, created on January 14, 2015, with its legal address c/o Registered Agent Solutions, Inc. in Dover, Delaware and its headquarters at 2600 West Big Beaver Road, Suite 555, Troy, Michigan; the LEI registration is lapsed. GLEIF names Horizon Global Corporation as the direct parent of Horizon Global Company LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-058" ], "entity_ids": [ "horizon-global", "horizon-global-company", "ras" ] }, { "id": "c-grp-horizon-company-gleif", "kind": "fact", "text": "GLEIF records Horizon Global Company LLC (LEI 5493008GNLKFHQAI0W11) as an active Delaware limited liability company, register number 5712015, created on March 17, 2015, with its legal address c/o Registered Agent Solutions, Inc., 838 Walker Road, Suite 21-2, Dover, Delaware, its headquarters at 2600 West Big Beaver Road, Suite 555, Troy, Michigan, and a lapsed LEI registration last updated on July 2, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-057" ], "entity_ids": [ "horizon-global-company", "ras" ] }, { "id": "c-grp-horizon-americas-gleif", "kind": "fact", "text": "GLEIF records Horizon Global Americas Inc. (LEI 549300SWUS8YENX2TM25), formerly Cequent Towing Products, Inc. and Cequent Performance Products, Inc., as an active Delaware corporation, register number 2231485, with headquarters at 47912 Halyard Drive, Suite 100, Plymouth, Michigan; its LEI registration lapsed and was last updated on August 4, 2023.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-057" ], "entity_ids": [ "horizon-global-americas" ] }, { "id": "c-grp-tmd-gleif", "kind": "fact", "text": "GLEIF records Toledo Molding & Die, LLC (LEI 549300CKM8N9BJZCZG86), formerly Toledo Molding & Die, Inc., as an active Delaware limited liability company, register number 2189228, created on March 3, 1989, with its legal address c/o Registered Agent Solutions, Inc. in Dover, Delaware and headquarters at 1429 Coining Drive, Toledo, Ohio 43612; its LEI registration is lapsed.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-056" ], "entity_ids": [ "tmd", "ras" ] }, { "id": "c-grp-bpi-gleif", "kind": "fact", "text": "GLEIF records Brake Parts Inc LLC (LEI 5493007R3NKBCPN50M70) as an active Delaware limited liability company, register number 2172843, created on September 19, 1988, with its legal address c/o Registered Agent Solutions, Inc. in Dover, Delaware and its headquarters at 4400 Prime Parkway, McHenry, Illinois; the LEI registration was listed as issued when last updated on September 18, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-034" ], "entity_ids": [ "brake-parts-inc", "ras" ] }, { "id": "c-grp-trico-limited", "kind": "fact", "text": "The UK Companies House register lists Trico Investments Corporation, a U.S. company with registration number 45-0533786 and a correspondence address at 127 Public Square, Suite 5110, Cleveland, Ohio, as the only person with significant control of Trico Limited (company number 00234268), notified on April 6, 2016: it holds 75% or more of the shares and voting rights and the right to appoint or remove directors.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-032" ], "entity_ids": [ "trico-investments", "trico-limited" ] }, { "id": "c-acq-formation", "kind": "fact", "text": "According to the debtors' first-day declaration, First Brands was formed in 2013 by its founder under the name Crowne Industrial Group. In 2013 and 2014 it acquired brands such as Carter Fuel Pumps and Trico, a maker of windshield wiper blades, and from 2019 it expanded further by acquiring a number of established brands, some of them decades or a century old, with the aim of becoming a leading supplier across the aftermarket parts industry.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "c-acq-trico-jefferies", "kind": "attributed", "text": "A press report published in October 2025 states that in 2014 the investment bank Jefferies provided a loan for Patrick James's acquisition of Trico Products, a Michigan-based maker of windscreen wipers, describing that deal as the foundation of what became First Brands, and that Jefferies went on to conclude deal after deal with the group.", "qualification": "Press account; the loan documents are not in the record.", "response": "Jefferies' chief executive was quoted as emphasising that First Brands had engaged with a range of banks and Wall Street firms over the previous ten years.", "outcome": "", "source_ids": [ "src-086" ], "entity_ids": [ "jefferies-fg", "patrick-james", "trico-products", "fbg" ] }, { "id": "c-acq-greensill", "kind": "attributed", "text": "The same press report states, citing documents it had seen, that one early financier was Greensill Capital, which in 2015 began providing tens of millions of dollars linked to the invoices of Crowne Group, described as Patrick James's holding company.", "qualification": "Press account based on documents not in the record; the retained records do not document how Crowne Group relates to First Brands Group, LLC, which was formed as Crowne Industrial Group.", "response": "", "outcome": "", "source_ids": [ "src-086" ], "entity_ids": [ "greensill", "patrick-james" ] }, { "id": "c-acq-brake-parts", "kind": "attributed", "text": "Brake Parts Inc., known for its Raybestos aftermarket brakes and based at 4400 Prime Parkway, was incorporated in 1988. A local newspaper reported in February 2026 that First Brands Group bought the company in July 2020 for a reported $510 million.", "qualification": "Purchase date and price as reported in the local press; no transaction document is in the record.", "response": "", "outcome": "", "source_ids": [ "src-090" ], "entity_ids": [ "brake-parts-inc", "fbg" ] }, { "id": "c-acq-horizon-approach", "kind": "fact", "text": "According to the January 2023 tender offer document, Jefferies, acting for Horizon Global Corporation in its strategic review, contacted First Brands Group, LLC on July 28, 2022 about a possible transaction, and Horizon and First Brands executed a confidentiality agreement on July 29, 2022. The agreement, for a transaction code-named Project Phoenix, was addressed to Stephen Graham as Chief Financial Officer of First Brands Group, LLC and covered information furnished by the target group, including through its adviser Jefferies LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-087", "src-013" ], "entity_ids": [ "jefferies-llc", "horizon-global", "fbg", "stephen-graham" ] }, { "id": "c-acq-horizon-price", "kind": "fact", "text": "First Brands Group, LLC's bid for Horizon Global changed during the negotiations: on November 1, 2022 it proposed $2.00 per share of common stock, based on an estimated total enterprise value of about $425 million at closing, and on December 27, 2022 it revised the offer to $1.75 per share, citing Horizon's financial situation and expected higher capital expenditure. Paul Hastings LLP acted as First Brands' legal counsel in negotiating the merger agreement.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-013" ], "entity_ids": [ "fbg", "horizon-global", "paul-hastings" ] }, { "id": "c-acq-jefferies-financing", "kind": "fact", "text": "The tender offer document states that since 2020 Jefferies had provided financing services to First Brands Group, LLC in five earlier transactions. Because Jefferies was also advising Horizon, Horizon's Strategic Alternatives Committee decided on November 12, 2022 that Jefferies could provide financing to First Brands if First Brands became the acquirer, and Horizon approved Jefferies' financing discussions with First Brands.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-013" ], "entity_ids": [ "jefferies-llc", "fbg", "horizon-global" ] }, { "id": "c-acq-horizon-offer", "kind": "fact", "text": "The tender offer for Horizon Global was made by PHX Merger Sub, Inc., a Delaware corporation incorporated on December 16, 2022 as a wholly owned subsidiary of First Brands Group, LLC and formed solely to complete the offer and merger. It offered $1.75 per share of common stock plus the redemption price for the Series B preferred stock, with the offer scheduled to expire just after 11:59 p.m. Eastern Time on February 6, 2023. First Brands and the purchaser estimated the total funds needed for the offer, the merger and related fees at about $425 million, to be supplied by First Brands from cash on hand and available financing.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-009", "src-013" ], "entity_ids": [ "phx-merger-sub", "fbg", "horizon-global" ] }, { "id": "c-acq-horizon-close", "kind": "fact", "text": "On February 8, 2023, after the tender offer was completed, PHX Merger Sub, Inc. merged into Horizon Global Corporation, which survived as a wholly owned subsidiary of First Brands Group, LLC. The same day Horizon asked the New York Stock Exchange to halt and suspend trading in its common stock and to file for its delisting and deregistration.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-031" ], "entity_ids": [ "phx-merger-sub", "horizon-global", "fbg" ] }, { "id": "c-debt-totals", "kind": "fact", "text": "The debtors' first-day declaration, executed on September 29, 2025, states that as of the petition date the debtors had approximately $6.1 billion of on-balance-sheet funded debt, held by First Brands Group Holdings, LLC and its debtor subsidiaries; approximately $2.3 billion of \"off-balance sheet\" financings incurred through special purpose vehicles and held by Viceroy Private Capital, LLC and its debtor subsidiaries; approximately $800 million of unsecured supply-chain-financing liabilities; and, in addition, approximately $2.3 billion of factoring liabilities.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbgh", "viceroy" ] }, { "id": "c-debt-table", "kind": "fact", "text": "The declaration's debt table lists total debtor obligations of $9,295.4 million: ABL obligations of $596.3 million ($226.9 million of loans and letters of credit plus $369.4 million of ABL supply-chain-financing and cash-management obligations); term-loan obligations of $5,539.9 million (a $100 million first-lien letter-of-credit facility, first-lien term loans of $3,886.9 million in dollars and $763 million in euros, $250 million of side-car term loans and $540 million of second-lien term loans); off-balance-sheet SPV obligations of $2,346.8 million (Aequum facilities $77.8 million, CarVal facilities $159.0 million, Evolution facilities $230 million and the Onset lease $1,880 million); and $812.4 million of supply-chain-financing obligations.", "qualification": "The table gives most balances as of June 30, 2025, and the Aequum, CarVal and Evolution balances as of July 31, 2025; the euro tranche is converted at 1.19 dollars per euro and the side-car amount excludes a make-whole premium of about $26 million.", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "c-debt-abl", "kind": "fact", "text": "On February 2, 2018 First Brands Group, LLC entered into an ABL Credit Agreement as lead borrower, with Trico Limited (England and Wales) and Trico Belgium SA as further borrowers, First Brands Group Intermediate, LLC (formerly Trico Group Holdings, LLC) as parent and Bank of America, N.A., as successor to Goldman Sachs Bank USA, as administrative and collateral agent. The asset-based senior secured revolving facility was originally up to $80 million, with total commitments of up to $250 million; at the petition date about $227 million was outstanding, comprising about $133 million of borrowings and about $93 million of undrawn letters of credit. Obligations are guaranteed by debtor affiliates and secured by a first-priority lien on the ABL Priority Collateral and a third-priority lien on the Term Priority Collateral.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-023" ], "entity_ids": [ "fbg", "trico-limited", "trico-belgium", "fbgi", "bank-of-america", "goldman-sachs-bank" ] }, { "id": "c-debt-first-lien", "kind": "fact", "text": "On February 2, 2018 First Brands Group, LLC, as borrower, and First Brands Group Intermediate, LLC, as parent, entered into a First Lien Term Loan Agreement whose administrative and collateral agent is Jefferies Finance LLC (successor to Credit Suisse AG, Cayman Island Branch, which had succeeded Goldman Sachs Bank USA). At the petition date term loans of $3,886.9 million and $763 million were outstanding, including a $24.5 million bridge loan that certain first-lien lenders provided on September 25, 2025 so that the debtors could meet payroll and other critical payments. The loans are guaranteed by the ABL/term-loan obligors and secured by a first-priority lien on the Term Priority Collateral and a second-priority lien on the ABL Priority Collateral.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-023" ], "entity_ids": [ "fbg", "fbgi", "jefferies-finance", "goldman-sachs-bank" ] }, { "id": "c-debt-second-lien", "kind": "fact", "text": "On February 26, 2019 First Brands Group, LLC, as borrower, and First Brands Group Intermediate, LLC, as parent, entered into a Second Lien Term Loan Agreement with Jefferies Finance LLC (as successor to Credit Suisse AG, Cayman Island Branch) as administrative and collateral agent. Second-lien term loans of $540 million were outstanding at the petition date, guaranteed by the other ABL/term-loan obligors and secured by a third-priority lien on the ABL Priority Collateral and a second-priority lien on the Term Priority Collateral.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg", "fbgi", "jefferies-finance" ] }, { "id": "c-debt-sidecar", "kind": "fact", "text": "On June 16, 2025 First Brands Group, LLC, as borrower, and First Brands Group Intermediate, LLC, as parent, entered into a side-car first-lien term loan agreement with Sagard Holdings Manager (US) LLC as Sagard administrative agent and GLAS USA LLC as GLAS administrative agent and collateral agent; $250 million of term loans were extended that day. After the company failed to make an interest payment due on September 16, 2025, the side-car lenders accelerated the loan on September 24, 2025, including a make-whole premium of about $26 million, so that about $276 million was outstanding at the petition date. The loan is secured by a first-priority lien on the Term Priority Collateral and a second-priority lien on the ABL Priority Collateral, and a side letter restricted new-money borrowing without the side-car lenders' consent.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg", "fbgi", "sagard-hm", "glas-usa" ] }, { "id": "c-debt-collateral", "kind": "fact", "text": "The first-day declaration divides the collateral of the FBG debtors into ABL Priority Collateral, including accounts, inventory, payment intangibles and deposit and securities accounts, on which the ABL secured parties rank first, and Term Priority Collateral, including equipment and real property, intellectual property and equity interests, on which the first-lien, side-car and second-lien secured parties rank ahead. The rights of these groups are set out in an Amended and Restated Intercreditor Agreement dated February 26, 2019, and the DIP credit agreement refers to an Amended and Restated ABL Intercreditor Agreement among the first-lien collateral agent, the ABL agent, the second-lien administrative agent and the loan parties.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023", "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "c-debt-trico-charges", "kind": "fact", "text": "The Companies House charges register for Trico Limited (company number 00234268) records 16 charges, 3 outstanding and 13 satisfied. The three outstanding charges are in favour of Bank of America, N.A.: one created on July 31, 2020 (a debenture with a fixed charge over land), one created on January 3, 2019 and one created on November 12, 2018, for which the register notes that all of the property or undertaking has been released. A charge created on February 2, 2018 in favour of Goldman Sachs Bank USA as security trustee was satisfied on September 29, 2022.", "qualification": "The register does not state which facility each charge secures. Trico Limited is a borrower under the ABL facility for which Bank of America, N.A. is administrative and collateral agent, as successor to Goldman Sachs Bank USA.", "response": "", "outcome": "", "source_ids": [ "src-033", "src-001" ], "entity_ids": [ "trico-limited", "bank-of-america", "goldman-sachs-bank" ] }, { "id": "c-debt-leverage", "kind": "fact", "text": "According to the first-day declaration, the company's audited consolidated financial statements for 2024 show total net sales of approximately $5 billion. As of the petition date the company was levered about five times, based on $6.1 billion of on-balance-sheet funded debt and reported EBITDA of $1.133 billion; much of the funded debt was raised for acquisitions between 2019 and 2024, which were primarily debt-financed, and annual debt service exceeded $900 million before counting any obligations under the Onset master leases.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg", "onset" ] }, { "id": "c-debt-liquidity-costs", "kind": "fact", "text": "The first-day declaration attributes part of the liquidity strain before the filing to nearly $160 million of up-front integration costs in the twelve months to June 2025 (plant consolidation, severance, purchasing and insourcing), about $200 million spent on launching new programs between June and September 2025, and tariff-related costs of about $220 million as of the end of August 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "c-debt-refinancing", "kind": "fact", "text": "Before the filing the company pursued three financing processes, according to the first-day declaration. From mid- to late 2024 it sought new term loans of about €1.3 to 1.5 billion by separating its operations outside North America, including the Trico and ANCO brands, into a new entity; the marketing was led by Banco Santander, S.A. and ended without sufficient lender interest. In July 2025 it launched a global refinancing led by Jefferies to raise about $6.2 billion, which was paused in August 2025 so that the company could complete a quality-of-earnings report requested by certain potential lenders. It also pursued bridge financing for a possible out-of-court sale.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg", "banco-santander" ] }, { "id": "c-debt-jefferies-letter", "kind": "fact", "text": "In a letter from its chief executive and president, Jefferies Financial Group Inc. said that collateralised loan obligations managed by Jefferies Finance LLC, a 50/50 joint venture of MassMutual and Jefferies, through its subsidiary Apex Credit Partners owned $48 million principal amount of First Brands term loans with a current market value of about $17 million, and that Apex CLOs had participated in $8.8 million of the DIP financing. The letter said that, apart from one $300 million loan in 2023 that Jefferies underwrote, every First Brands financing it arranged in the previous ten years was on a best-efforts basis, and that the 2025 refinancing did not proceed because a quality-of-earnings report requested of and promised by First Brands was never delivered.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-027" ], "entity_ids": [ "jefferies-fg", "jefferies-finance", "fbg" ] }, { "id": "c-debt-jefferies-finance-id", "kind": "fact", "text": "The GLEIF record of Jefferies Finance LLC (LEI 549300SKVB18YSSIDT75), the first- and second-lien agent, gives its previous legal name as Jefferies Babson Finance LLC, its jurisdiction as Delaware with registration number 3833598, its creation date as July 26, 2004, its headquarters at 520 Madison Avenue, New York, and its entity status as active.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-037" ], "entity_ids": [ "jefferies-finance" ] }, { "id": "c-debt-adhoc-holdings", "kind": "fact", "text": "At the first-day hearing, according to the transcript as quoted in a later court filing, the ad hoc group of lenders providing the debtor-in-possession financing was described as holding approximately 99 percent of the first-lien term loan, 100 percent of the first-lien side-car term loans and 83 percent of the second-lien term loans.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026" ], "entity_ids": [ "fbg" ] }, { "id": "c-debt-palmer-square", "kind": "fact", "text": "A prospectus that Palmer Square Capital BDC Inc. filed with the SEC on July 23, 2024 lists two loans to First Brands Group, LLC (shown at 3255 W Hamlin Road, Rochester, Michigan) in its portfolio tables: a first-lien senior secured loan at 10.57% (\"S + CSA + 5.00%\") maturing March 30, 2027, principal 8,695,953 and fair value 8,719,867, and a second-lien senior secured loan at 14.07% (\"S + CSA + 8.50%\") maturing March 24, 2028, principal 3,000,000 and fair value 2,977,500.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-024" ], "entity_ids": [ "palmer-square", "fbg" ] }, { "id": "c-debt-blackrock-clo", "kind": "fact", "text": "A payment date report as of July 8, 2026 for BlackRock European CLO III DAC, whose collateral manager is BlackRock Investment Management (UK) Limited, lists among its holdings \"First Brands Group LLC - 2023 Euro Incremental Term loan\" (LoanX ID LX218476), a euro tranche of the company's term loans.", "qualification": "The amount of the holding cannot be read reliably from the retained copy of the report's tables.", "response": "", "outcome": "", "source_ids": [ "src-064" ], "entity_ids": [ "blackrock-clo", "fbg" ] }, { "id": "c-debt-private-credit", "kind": "attributed", "text": "A press report in October 2025 said that Marathon Asset Management held over $280 million of First Brands debt, according to a filing, and listed Monroe Capital, Antares Capital, Sagard, Värde Partners, Sycamore Tree Capital Partners and Alcentra, a Franklin Templeton affiliate, among other private credit firms holding the company's debt; the report said the largest private-credit exposures appeared to be through collateralised loan obligations.", "qualification": "Press account; the Marathon amount is attributed to a filing that is not in the retained record, and no amounts are given for the other holders.", "response": "", "outcome": "", "source_ids": [ "src-036" ], "entity_ids": [ "marathon", "monroe", "antares", "sagard", "varde", "sycamore-tree", "alcentra", "fbg" ] }, { "id": "c-debt-abl-forbearance", "kind": "fact", "text": "On September 15, 2025 the company tried to draw the remaining approximately $23 million under the ABL facility; Bank of America, as ABL agent, said reserves would be established and refused to fund. On September 18 it alleged an event of default because the company could not pay its debts as they became due and set a $200 million reserve, producing an overadvance of about $168 million, and on September 19 it asserted that the purchase price paid for certain factored inventory was ABL collateral that had to be deposited into a controlled account. Under a forbearance agreement of September 25, 2025 the ABL lenders agreed not to exercise remedies until October 5, 2025, and the company agreed to provide reporting, accept restrictions on moving collateral and immediately discontinue certain factoring practices.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg", "bank-of-america" ] }, { "id": "c-debt-southstate", "kind": "fact", "text": "On September 23, 2025 the company learned that Southstate Bank had set off debts it said the company owed, about $30 million, against a company account holding about $27 million of working capital, described as the last remaining liquidity of the U.S. entities. According to the first-day declaration this left the company with only $14 million of cash, insufficient to fund operating expenses including payroll, and led to the $24.5 million first-lien bridge loan of September 25, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg", "southstate" ] }, { "id": "c-spv-structure", "kind": "fact", "text": "According to the first-day declaration, besides the funded debt of the FBG debtors, a separate group of \"SPV Debtors\" took part in lease, inventory and equipment financings recorded off the group's balance sheet. The obligors are subsidiaries of Viceroy Private Capital, LLC and Carnaby Capital Holdings, LLC, not subsidiaries of First Brands Group, LLC, and they are not obligors under the term loans or the ABL facility. In these programs an SPV borrower buys or exchanges inventory or raw materials from other debtor subsidiaries, uses that inventory as a borrowing base to obtain loans and may sell the finished inventory back to other debtors or to third parties.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "viceroy", "carnaby-holdings", "fbg" ] }, { "id": "c-spv-aequum", "kind": "fact", "text": "On March 28, 2024 Broad Street Financial, LLC, as borrower, entered into a credit agreement with Aequum Capital Financial II, LLC as administrative and collateral agent for a $45 million asset-based revolving facility. The facility let Broad Street buy inventory directly from First Brands Group, LLC and its subsidiaries, including brake parts, electronics, steering components, calipers, pumps and motors, and borrow against it; inventory sold back to the debtors had to be bought by Viceroy Private Capital, LLC if no other debtor bought it. Broad Street held about $66 million of inventory as of July 31, 2025. Its obligations are guaranteed by Broad Street Financial Holdings, LLC and secured by liens on all assets of both companies.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "broad-street", "aequum", "fbg", "viceroy", "broad-street-holdings" ] }, { "id": "c-spv-global-assets", "kind": "fact", "text": "On December 2, 2024 Global Assets LLC, as U.S. borrower, and Global Assets GmbH, a German limited liability company affiliated with the debtors, as German borrower, entered into a credit agreement with UMB Bank, N.A. as administrative and collateral agent for a $45 million asset-based revolving facility that used finished parts, raw materials and semi-finished products bought from certain debtors as its borrowing base; inventory sold back had to be bought by Viceroy Private Capital, LLC if no other debtor bought it. The borrowers held about $68 million of inventory as of July 31, 2025, and their obligations are guaranteed by Carnaby Capital Holdings, LLC. About $77.8 million of principal was outstanding under the Broad Street and Global Assets facilities together at the petition date.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "global-assets-llc", "global-assets-gmbh", "umb-bank", "viceroy", "carnaby-holdings" ] }, { "id": "c-spv-carval-ii", "kind": "fact", "text": "On May 31, 2022 Carnaby Inventory II, LLC entered into a credit agreement with GLAS Trust Company LLC as administrative agent for a $60 million asset-based revolving facility (one of two \"CarVal\" facilities). The borrower could buy manufactured inventory such as brake parts, or raw materials, from the debtors and could engage debtor subsidiaries that have contracts with maquiladora manufacturers to produce inventory for it. It held about $116 million of inventory as of August 2, 2025; its obligations are guaranteed by First Brands Group Holdings, LLC and Carnaby Inventory Holdings II, LLC and secured by liens on all assets of the borrower and of Carnaby Inventory Holdings II.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "carnaby-ii", "glas-trust", "fbgh" ] }, { "id": "c-spv-carval-iii", "kind": "fact", "text": "On July 6, 2022 Carnaby Inventory III, LLC entered into a second CarVal credit agreement with GLAS Trust Company LLC as administrative agent for a $100 million asset-based revolving facility on the same model. It held about $133 million of inventory as of August 2, 2025, and its obligations are guaranteed by First Brands Group Holdings, LLC and Carnaby Inventory Holdings III, LLC. About $159.0 million of principal was outstanding under the two CarVal facilities at the petition date.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "carnaby-iii", "glas-trust", "fbgh" ] }, { "id": "c-spv-evolution", "kind": "fact", "text": "Evolution Credit Opportunity Master Fund II-B, L.P. provided two uncommitted inventory finance facilities of up to $150 million each: to Patterson Inventory, LLC under an agreement of November 9, 2023, and to Starlight Inventory I, LLC under an agreement of March 28, 2024, each guaranteed by its holding company and secured by a pledge of its equity and liens on its assets. The borrowers could buy eligible inventory from First Brands Group, LLC and its subsidiaries and borrow against it; they held about $376 million of inventory as of August 2, 2025, and about $230 million of principal was outstanding at the petition date.", "qualification": "The first-day declaration added that Evolution's inventory may have been commingled with the inventory of the FBG debtors before the petition date and that the Special Committee would review the issue.", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "evolution-fund", "patterson", "starlight", "fbg" ] }, { "id": "c-spv-onset-leases", "kind": "fact", "text": "Carnaby Inventory IV, LLC entered into Master Lease Agreement No. OFI1445416 with Onset Financial, Inc. on June 28, 2022, guaranteed by First Brands Group Holdings, LLC, Viceroy Private Capital, LLC, Carnaby Capital Holdings, LLC, Carnaby Capital, LLC and Carnaby Inventory Holdings IV, LLC. Carnaby FA, LLC entered into Master Lease Agreement No. OFI1545465 with Onset on October 24, 2023, guaranteed by Carnaby Capital Holdings, Viceroy, First Brands Group Holdings, Carnaby Capital, Carnaby FA Holdings, LLC, Eagle Casting Holdings, LLC and Eagle Casting, LLC. The first-day declaration notes that Eagle Casting, LLC also guarantees the senior credit facilities.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "carnaby-iv", "carnaby-fa", "onset", "fbgh", "viceroy", "carnaby-holdings" ] }, { "id": "c-spv-onset-mechanism", "kind": "fact", "text": "Under the Onset master leases, Onset lends funds to Carnaby Inventory IV, LLC to acquire inventory or equipment from First Brands Group, LLC on Onset's behalf; the inventory is then leased back to Carnaby IV and may ultimately be repurchased by First Brands. The debtors stated that they believe the master leases may not be true leases and reserved their rights to have them recharacterised as financings. Including interest, fees and forbearance fees, about $1.9 billion was outstanding under the master leases and related forbearances at the petition date.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "onset", "carnaby-iv", "fbg" ] }, { "id": "c-spv-onset-forbearance-early", "kind": "fact", "text": "Carnaby Inventory IV, LLC and Carnaby FA, LLC entered into a first forbearance agreement with Onset on May 1, 2025, after failing to make monthly payments of about $208 million due that day; the deadline was extended to May 30, 2025 in exchange for late and forbearance fees of about $35 million. On June 1, 2025, after they also missed June payments of $198.5 million, a second forbearance extended the deadlines to June 27 and July 27, 2025 for fees of about $73.5 million and an additional monthly payment of about $223 million.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "carnaby-iv", "carnaby-fa", "onset" ] }, { "id": "c-spv-onset-forbearance-third", "kind": "fact", "text": "A third forbearance of June 30, 2025 restructured the Onset payment schedules to total payments of $1.9 billion, about $380 million more than was due before the first forbearance: $20 million by July 3, 2025 (paid), $570 million on August 29, 2025, monthly payments through August 20, 2026 and a $645 million balloon payment on August 31, 2026. In connection with it, Viceroy Private Capital, LLC pledged 15% of its membership interests in First Brands Group Holdings, LLC to Onset. After the $570 million payment was missed, Onset delivered a notice of default and acceleration on September 9, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "onset", "viceroy", "fbgh", "carnaby-iv", "carnaby-fa" ] }, { "id": "c-spv-petitions", "kind": "fact", "text": "On September 24, 2025 thirteen SPV debtors filed Chapter 11 petitions in the U.S. Bankruptcy Court for the Southern District of Texas, among them Global Assets LLC, Carnaby Capital Holdings, LLC, Broad Street Financial, LLC, Broad Street Financial Holdings, LLC, Carnaby Inventory II, LLC, Carnaby Inventory III, LLC, Patterson Inventory, LLC and Starlight Inventory I, LLC. The first-day declaration says the filings were a protective measure because certain inventory financing lenders could otherwise have exercised remedies, in some cases proxy rights or foreclosure, before forbearances could be obtained.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-002" ], "entity_ids": [ "global-assets-llc", "carnaby-holdings", "broad-street", "broad-street-holdings", "carnaby-ii", "carnaby-iii", "patterson", "starlight" ], "adverse_subject_ids": [ "global-assets-llc", "carnaby-holdings", "broad-street", "broad-street-holdings", "carnaby-ii", "carnaby-iii", "patterson", "starlight" ] }, { "id": "c-spv-evolution-default", "kind": "fact", "text": "On September 22, 2025 Evolution Credit Opportunity Master Fund II-B, L.P. (\"Evolution\") notified the debtors of a claimed default under the Starlight facility for failure to pay about $110 million of principal and $7.8 million of accrued interest, and separately claimed that about $4.7 million due on purchased receivables had not been paid. The first-day declaration adds that the company's advisers had recently become aware that inventory subject to Evolution's security interest may have been commingled with collateral securing the ABL facility, a dispute placed under the Special Committee's investigation.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "evolution-fund", "starlight", "fbg" ] }, { "id": "c-spv-complaint-double-pledge", "kind": "attributed", "text": "The debtors' complaint against Patrick James alleges that, under James's leadership and direction, inventory purportedly transferred by First Brands subsidiaries to SPV debtors under the Evolution and Onset facilities stayed on the subsidiaries' balance sheets and in the borrowing base of the First Brands credit facilities, including the ABL facility, so that the same inventory supported loans both to the subsidiaries and to the SPVs. It alleges that Evolution Credit Opportunity Master Fund II-B, L.P. lent about $240 million to an SPV debtor against what First Brands represented as $370 million of inventory, that First Brands kept the inventory without paying the SPV, and that by the end of September 2025 few if any assets remained in the SPV.", "qualification": "Allegations in the debtors' verified adversary complaint of November 3, 2025 against Patrick James, the Patrick James Trust and affiliated companies (Adv. Pro. 25-03803); not adjudicated.", "response": "In a motion to dismiss filed on December 15, 2025 the defendants argued that the complaint does not connect Patrick James to any alleged double-pledging of collateral; a spokesperson for James said James continues to deny the \"baseless accusations\" against James.", "outcome": "The bankruptcy court later granted a motion of the United States to intervene and stayed discovery in the adversary proceeding pending the parallel criminal case; on May 29, 2026 the district court dismissed James's appeal of that order for lack of jurisdiction.", "source_ids": [ "src-003", "src-026", "src-054", "src-069" ], "entity_ids": [ "patrick-james", "fbg", "evolution-fund", "onset" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-spv-bowery-complaint", "kind": "attributed", "text": "The debtors' complaint alleges that cash from Onset was transferred to a non-debtor entity controlled by Patrick James known as \"Bowery Finance II\" instead of to the FBG subsidiaries entitled to it under the transaction documents, that inadequate books and records were kept for the SPV debtors and that the SPV debtors' cash was frequently commingled with that of non-debtor entities. It describes the Bowery Finance II account as a \"slush fund\" through which nearly $12 billion flowed from 2022 through 2025, including transfers between Patrick James, the Patrick James Trust and James's affiliated entities.", "qualification": "Allegations in the debtors' verified adversary complaint of November 3, 2025 against Patrick James, the Patrick James Trust and affiliated companies (Adv. Pro. 25-03803); not adjudicated.", "response": "In a motion to dismiss filed on December 15, 2025 the defendants argued that the complaint does not connect Patrick James to any alleged double-pledging of collateral; a spokesperson for James said James continues to deny the \"baseless accusations\" against James.", "outcome": "The bankruptcy court later granted a motion of the United States to intervene and stayed discovery in the adversary proceeding pending the parallel criminal case; on May 29, 2026 the district court dismissed James's appeal of that order for lack of jurisdiction.", "source_ids": [ "src-003", "src-026", "src-054", "src-069" ], "entity_ids": [ "bowery-finance", "patrick-james", "onset", "pj-trust" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-spv-bowery-kirschner", "kind": "attributed", "text": "In a July 2026 report, the debtors' expert Marc S. Kirschner said that $12 billion was funneled from 2022 to 2025 through the Bowery account controlled by Patrick James, which was used to commingle funds and facilitate transfers to many Patrick James entities. Kirschner said proceeds that flowed into the SPVs were promptly transferred out, commingled and disbursed to affiliates or creditors; that the ledgers of Carnaby Inventory II and III showed inventory reduced monthly for cash received from Patrick James entities to service the CarVal lenders rather than recorded purchases and sales; and that the FBG debtors appear to have recycled funds from SPV lenders to pay pre-existing creditors, including other SPV lenders.", "qualification": "Opinions of Marc S. Kirschner, an expert retained by the debtors, in a report filed with the bankruptcy court in July 2026 in support of the proposed liquidating plan, as reported in the press; not adjudicated.", "response": "Patrick James has denied allegations of fraud.", "outcome": "In August 2026 the bankruptcy court found the plan, which relied on these litigation claims, not feasible and ordered the cases into Chapter 7 liquidation.", "source_ids": [ "src-085", "src-070" ], "entity_ids": [ "bowery-finance", "patrick-james", "carnaby-ii", "carnaby-iii" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-spv-kirschner-structure", "kind": "attributed", "text": "Kirschner's report called the SPV facilities structurally unworkable: in Kirschner's account the SPVs had no employees, assets or inventory of their own, held no board meetings, adopted no resolutions and relied on First Brands and other Patrick James entities to pay their bills, while First Brands employees performed their functions. Kirschner said there was a good-faith basis to believe the SPVs were insolvent from the start, that their debts exceeded $200 million a month in 2025 and were repaid with further SPV, factoring and supply-chain financing, and that SPV lenders knew or should have known of the scheme.", "qualification": "Opinions of Marc S. Kirschner, an expert retained by the debtors, in a report filed with the bankruptcy court in July 2026 in support of the proposed liquidating plan, as reported in the press; not adjudicated.", "response": "Patrick James has denied allegations of fraud.", "outcome": "In August 2026 the bankruptcy court found the plan, which relied on these litigation claims, not feasible and ordered the cases into Chapter 7 liquidation.", "source_ids": [ "src-085", "src-070" ], "entity_ids": [ "fbg", "patrick-james" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-spv-kirschner-onset", "kind": "attributed", "text": "Kirschner said Onset lent more than $2 billion through Carnaby FA, LLC under a structure in which the SPV bought inventory or equipment from a First Brands company, sold it to Onset and leased it back, and that the facility could not operate as papered because the SPV had to buy inventory, replace inventory sold and service debt to Onset at interest rates of up to about 200%. Kirschner said Onset should have known this was impossible, cited late-filed financing statements after pushback from Edward James, Edward James's insistence on being the only person to communicate with Onset and Edward James's role as an investor alongside Onset in the SPV deals, and said the triple-digit rates would be substantial evidence that the transactions were made for inadequate consideration.", "qualification": "Opinions of Marc S. Kirschner, an expert retained by the debtors, in a report filed with the bankruptcy court in July 2026 in support of the proposed liquidating plan, as reported in the press; not adjudicated.", "response": "Onset has denied wrongdoing, saying it is a victim that did business in good faith with First Brands and blaming the James brothers for the collapse. No response by Edward James to these statements was found in the retained record; in the criminal case Edward James pleaded not guilty on February 4, 2026.", "outcome": "In August 2026 the bankruptcy court found the plan, which relied on these litigation claims, not feasible and ordered the cases into Chapter 7 liquidation.", "source_ids": [ "src-085", "src-084", "src-066", "src-070" ], "entity_ids": [ "onset", "carnaby-fa", "edward-james" ], "adverse_subject_ids": [ "onset", "edward-james" ] }, { "id": "c-spv-jerneycic", "kind": "attributed", "text": "In a declaration of January 11, 2026, as reported in the press, co-chief restructuring officer Daniel Jerneycic said the recorded value of the initial inventory purchases by Patterson Inventory, LLC and Starlight Inventory I, LLC from First Brands appeared overstated by about $140 million, that the expected resales and replacement purchases did not appear to have occurred, and that borrowing base certificates presented to Evolution did not reflect actual business activity. Jerneycic said invoices were issued to Brake Parts Inc by an entity controlled by Patrick James, and that funds paid to the SPVs were round-tripped back to Brake Parts Inc through another James-controlled entity, apparently solely to generate bank-statement activity for Evolution.", "qualification": "Statements in a declaration filed by the debtors' restructuring officer in the dispute with Evolution, as reported; not adjudicated.", "response": "A spokesperson for Patrick James said James \"has always acted ethically and continues to deny the baseless accusations against him\".", "outcome": "", "source_ids": [ "src-054" ], "entity_ids": [ "daniel-jerneycic", "patterson", "starlight", "fbg", "evolution-cp", "brake-parts-inc", "patrick-james" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-spv-evolution-collateral", "kind": "attributed", "text": "After the September 2025 bankruptcy filing, an agreed court order entered that November allowed the Patterson and Starlight SPVs to keep selling inventory provided they held at least $335 million of collateral at certain locations. In December Evolution filed an emergency motion alleging a shortfall of about $44 million, which First Brands disputed on the ground that enough inventory was held elsewhere; at a January 13, 2026 hearing Judge Christopher Lopez said the order's plain language did not specify those locations but that more evidence was needed. In a January 12, 2026 filing Bank of America, as administrative and collateral agent for asset-based lenders, argued that Evolution had not proved a valid first-priority lien because the inventory was already subject to its lenders' liens before First Brands sold it to the SPVs.", "qualification": "Competing positions in a pending collateral dispute, as reported in the press in January 2026; the court had not decided lien priority.", "response": "", "outcome": "In April 2026 the Patterson and Starlight cases were converted to Chapter 7 under a settlement for which the debtors sought emergency approval on April 8, 2026; no ruling on the alleged shortfall or on lien priority was found in the retained records.", "source_ids": [ "src-074", "src-054", "src-001" ], "entity_ids": [ "patterson", "starlight", "evolution-cp", "fbg", "bank-of-america" ] }, { "id": "c-spv-evolution-chapter7", "kind": "fact", "text": "In a motion reported on March 12, 2026, Evolution asked the court to move the brake-parts business lines covered by its special financing from Chapter 11 into Chapter 7, saying the borrowers owed about $230 million of principal and had no revenue-generating operations and that no prospect of reorganization existed. On April 8, 2026 the debtors sought emergency approval of a settlement allowing the Evolution SPV debtors' cases to be converted, and Patterson Inventory, Patterson Inventory Holdings, Starlight Inventory I and Starlight Inventory Holdings I were converted to Chapter 7 in April 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-121", "src-074" ], "entity_ids": [ "evolution-cp", "patterson", "starlight", "fbg" ], "adverse_subject_ids": [ "patterson", "starlight" ] }, { "id": "c-spv-aequum-ruling", "kind": "attributed", "text": "In an adversary suit brought by Bank of America against Aequum, Judge Christopher Lopez ruled in June 2026, as reported, that Aequum could sell inventory in its possession but could not spend the $18 million of proceeds until the court decided who owned the collateral stored in a Cardone warehouse in Arlington, Texas. The judge said Aequum's funds had gone not to First Brands for the collateral but to Bowery Finance, a company owned by former chief executive Patrick James and not part of First Brands, and that there was no evidence in Cardone's or First Brands' books that Broad Street Financial, LLC had bought the collateral, so earlier liens appeared to remain in place.", "qualification": "Press account of an oral ruling; the judge said the ruling did not decide who owns the inventory or whether a transfer occurred, which were left for trial.", "response": "The judge said both Bank of America and Aequum appeared to have extended credit in good faith and may both have been deceived.", "outcome": "", "source_ids": [ "src-072" ], "entity_ids": [ "bank-of-america", "aequum", "cardone", "bowery-finance", "patrick-james", "broad-street", "fbg" ] }, { "id": "c-spv-dismissal-motions", "kind": "attributed", "text": "Secured lenders of Broad Street Financial, LLC and of Carnaby Inventory II and III moved to dismiss those SPVs' Chapter 11 cases (the Carnaby lenders on October 30, 2025 and the Aequum lenders on November 10, 2025), alleging that on the eve of bankruptcy First Brands had replaced the SPVs' independent managers with managers who also sat on the parent companies' boards and who then approved the filings, which the lenders called unauthorized and in bad faith. The debtors and the Official Committee of Unsecured Creditors opposed dismissal, arguing that the operating agreements had been properly amended before the petition and that the SPVs were operationally integrated into the First Brands enterprise.", "qualification": "Positions of the parties as summarised in a law-firm client alert of January 2026; a hearing on the Carnaby lenders' motion was scheduled for January 9, 2026, and no ruling on the motions was found in the retained record.", "response": "", "outcome": "", "source_ids": [ "src-028", "src-074" ], "entity_ids": [ "broad-street", "carnaby-ii", "carnaby-iii", "fbg", "aequum" ] }, { "id": "c-spv-indictment-james-entities", "kind": "attributed", "text": "The indictment alleges that the off-balance-sheet debt principally related to inventory-financing arrangements of entities wholly owned and controlled by Patrick James (the \"James Entities\"), which were nominally separate from First Brands but had no independent business operations. Through them, it alleges, at least three inventory financers advanced funds to buy First Brands inventory that was pledged back to them, or entered sale-leaseback transactions; the arrangements were directed by Patrick James, negotiated by Edward James and kept off First Brands' financial statements, and loan proceeds were routed through a customer-collections entity outside the corporate structure so that they appeared to be ordinary customer receipts.", "qualification": "Allegations in the indictment in United States v. Patrick James and Edward James, 26 Cr. 29 (S.D.N.Y.), unsealed on January 29, 2026; the charges are accusations and the defendants are presumed innocent unless proven guilty.", "response": "Patrick James pleaded not guilty to all nine counts and Edward James to counts two through nine on February 4, 2026.", "outcome": "Trial was set for February 9, 2027.", "source_ids": [ "src-005", "src-008", "src-066" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ], "adverse_subject_ids": [ "patrick-james", "edward-james" ] }, { "id": "c-spv-indictment-misstatement", "kind": "attributed", "text": "The indictment alleges that in July 2025, in response to high-priority lender diligence requests and at the direction of Patrick James, a senior First Brands executive falsely represented that the company had \"no off-balance sheet financing\" involving \"special purpose entities\" and that all related-party relationships were disclosed, when about $2 billion of undisclosed off-balance-sheet debt had been incurred through the James Entities. It further alleges that the James Entities pledged inventory said to be unencumbered that was already pledged to First Brands' senior lenders, that falsified inventory schedules were supplied to the off-balance-sheet lenders, and that bank transfers were structured at Edward James's direction to mimic purchases and resales of inventory.", "qualification": "Allegations in the indictment in United States v. Patrick James and Edward James, 26 Cr. 29 (S.D.N.Y.), unsealed on January 29, 2026; the charges are accusations and the defendants are presumed innocent unless proven guilty.", "response": "Patrick James pleaded not guilty to all nine counts and Edward James to counts two through nine on February 4, 2026.", "outcome": "Trial was set for February 9, 2027.", "source_ids": [ "src-008", "src-005", "src-066" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ], "adverse_subject_ids": [ "patrick-james", "edward-james" ] }, { "id": "c-spv-onset-position", "kind": "attributed", "text": "In a motion to dismiss the debtors' suit, reported in March 2026, Onset said it had funded nearly $3 billion to First Brands from 2018 to 2025, secured by inventory and equipment, and that it was still owed at least $2.17 billion at the Chapter 11 filing. The motion said Onset and its funding partners, like other lenders, had been deceived by falsified inventory schedules, fake account documentation and collateral that was often double- or triple-pledged to different lenders.", "qualification": "Onset's own account in pending litigation; the debtors' suit against Onset alleges the opposite, and the claims had not been adjudicated.", "response": "Onset has publicly denied wrongdoing and called itself a victim of the James brothers.", "outcome": "", "source_ids": [ "src-121", "src-084" ], "entity_ids": [ "onset", "fbg" ] }, { "id": "c-spv-james-defense-lenders", "kind": "attributed", "text": "In their December 15, 2025 motion to dismiss the estate's complaint, Patrick James and the other defendants argued that off-balance-sheet lenders, Onset Financial in particular, charged onerous fees; that Onset, which contends its claim totals $1.9 billion, holds a guaranty from Viceroy Private Capital, LLC that is inconsistent with its claim to be an equipment lender and \"more consistent with a commercial payday loan\"; and that these lenders' \"predatory practices\" drove the company into default in the weeks before the Chapter 11 filing.", "qualification": "Arguments of the defendants in a motion to dismiss; not findings of the court.", "response": "", "outcome": "", "source_ids": [ "src-026" ], "entity_ids": [ "patrick-james", "onset", "viceroy", "fbg" ] }, { "id": "c-spv-umb-motion", "kind": "attributed", "text": "UMB Bank, as administrative agent for lenders to a $45 million credit facility tied to the group's off-balance-sheet special purpose entities, filed an emergency motion asserting that First Brands' advisers had abandoned more than $55 million of SPE property and were routing DIP financing to the group's Ultinon lighting business at the expense of other secured lenders; according to the same summary, the SPE inventory financing was backed in part by Ultinon inventory.", "qualification": "UMB Bank's assertions in an emergency motion, as described in a published summary of court filings; no ruling on the motion was found in the retained record.", "response": "", "outcome": "", "source_ids": [ "src-104" ], "entity_ids": [ "umb-bank", "fbg" ] }, { "id": "c-spv-private-credit-exposure", "kind": "attributed", "text": "An October 2025 press report, citing Fitch Ratings, said First Brands' troubles appeared to stem from billions of dollars of off-balance-sheet financing, including receivables factoring and inventory reverse-factoring, and named Pemberton Asset Management, Evolution Credit Partners and Aequum Capital among the private credit firms exposed through such structures.", "qualification": "Press report quoting a rating agency's commentary; exposure amounts are not given.", "response": "", "outcome": "", "source_ids": [ "src-036" ], "entity_ids": [ "pemberton", "evolution-cp", "fbg" ] }, { "id": "c-fac-two-programs", "kind": "fact", "text": "The debtors' first-day declaration (Docket No. 22 in case 25-90399) describes two kinds of receivables factoring. Under Customer Factoring, First Brands sold receivables owed by large retail customers with payment terms of up to 365 days to financial institutions that partnered with those customers, in exchange for near-term payment, often within 30 days, and the customer could later pay the institution directly. Under Third-Party Factoring, it sold receivables to unaffiliated factors that paid it in the near term, sometimes within seven days, in exchange for a payment about 105 days later that First Brands itself, not the customer, had to make to the factor.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "c-fac-third-party-balance", "kind": "fact", "text": "The debtors' first-day declaration states that, after diligence by the company's advisers, the debtors believed an unpaid prepetition balance of about $2.3 billion had accrued under the Third-Party Factoring arrangements as of the petition date. It adds that the factoring practices were under investigation by the Special Committee, including whether receivables had been turned over to third-party factors when received and whether receivables may have been factored more than once. Pending the investigation, the debtors said they would segregate funds received on receivables factored before the petition date.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-098" ], "entity_ids": [ "fbg" ] }, { "id": "c-fac-servicing", "kind": "fact", "text": "The debtors' motion for factoring procedures (Bankruptcy Docket No. 807, filed on December 1, 2025) states that, although the company had technically sold each receivable to a Third-Party Factor, it continued to service the receivable: the customer paid First Brands when the receivable fell due and First Brands then transferred the amount owed to the factor. At a November 10, 2025 hearing, interim chief executive Charles Moore testified that the parties receiving these payments were not lenders but third-party factors, that in a normal factoring arrangement they would not be creditors of the company, and that this was one of the red flags.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026", "src-074" ], "entity_ids": [ "fbg", "charles-moore" ] }, { "id": "c-fac-james-unsecured-view", "kind": "attributed", "text": "In a December 2025 motion to dismiss and a later petition against Jefferies in New York, lawyers for Patrick James argued that First Brands' third-party factoring was something other than standard factoring: because First Brands kept servicing the receivables, the factors in substance became lenders extending unsecured loans at high interest rates, for example in the mid-teens. The December 2025 filing also noted that on December 1, 2025 the debtors had announced that possibly $150 million relating to certain supposed Third-Party Factoring was being retained by customers.", "qualification": "Argument of a defendant in the estate's pending litigation. The debtors' side described the counterparties as purchasers of receivables rather than lenders; no court finding on the characterisation is in the retained record.", "response": "", "outcome": "", "source_ids": [ "src-049", "src-026" ], "entity_ids": [ "patrick-james", "fbg" ] }, { "id": "c-fac-yields-raistone-remark", "kind": "attributed", "text": "A petition by Patrick James and related companies against Jefferies in New York quoted a press report that Raistone's chief executive had told a trade and supply-chain-finance conference in New York that a lot of people had made a lot of money over many years on First Brands; the filing used the remark to argue that financiers earned high yields from their relationships with the company.", "qualification": "A remark reported in the press and quoted in a party's filing; it does not establish any party's knowledge of irregularities.", "response": "", "outcome": "", "source_ids": [ "src-049" ], "entity_ids": [ "patrick-james", "raistone", "fbg" ] }, { "id": "c-fac-top-creditors", "kind": "fact", "text": "The consolidated list of the 30 largest unsecured creditors filed with First Brands' Chapter 11 petition is headed by supply-chain-finance claims: HFS ($233,707,424.12), Trade Finance Company ($208,261,460.18) and 1977 O'Connor ($116,072,544.90), each listing a Raistone sales director as the contact, followed by The CIT Group ($84,370,311.72, supply chain finance), the Internal Revenue Service ($68,661,790.97, federal income taxes) and Napier ($47,094,364.74, supply chain finance).", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002" ], "entity_ids": [ "fbg", "raistone", "cit-group" ] }, { "id": "c-fac-top-creditors-scf", "kind": "fact", "text": "Further down the same list, other supply-chain-finance creditors are Wafra (WSS) ($38,030,178.32), Pemberton Capital Advisors LLP ($36,269,326.67), IVY ($26,643,031.95), Fasanara ($24,298,011.42), Southstate Bank, N.A. ($22,803,104.78), Orbian Management Limited ($20,033,620.15) and Nomura ($8,930,890.70); most of the remaining entries are trade payables owed to suppliers.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002" ], "entity_ids": [ "fbg", "southstate" ] }, { "id": "c-fac-factor-creditors", "kind": "fact", "text": "The same list names four factoring counterparties whose claims are marked contingent, unliquidated and disputed, in undetermined amounts: Evolution Credit Partners, Katsumi Global, LLC and Leucadia Asset Management – Trade Finance Group (Jefferies) under factoring agreements, and Raistone under factoring agreements and supply chain finance.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002" ], "entity_ids": [ "fbg", "evolution-cp", "katsumi", "leucadia", "raistone" ] }, { "id": "c-fac-docket-financiers", "kind": "fact", "text": "A docket summary of case 25-90399 lists among the creditors appearing in the case Raistone Capital LLC and two Raistone Purchasing LLC series (XXXII and XXVIII), Evolution Credit Partners, Katsumi Servicing, LLC, FactoFrance, ING Belgium S.A./N.V., Mitsubishi HC Capital America, Inc., Arab Banking Corporation B.S.C., Onset Financial, Inc., the equipment and vehicle financiers CSI Leasing, Inc. and Ford Motor Credit Company LLC, STORE Capital Acquisitions, LLC and two STORE Master Funding entities, and the Pension Benefit Guaranty Corporation. It also lists BDO USA, P.C. as a party in the role of auditor.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-040" ], "entity_ids": [ "fbg", "raistone", "evolution-cp", "factofrance", "ing-belgium", "mitsubishi-hc", "onset", "store-capital", "bdo" ] }, { "id": "c-fac-docket-banks", "kind": "fact", "text": "The same docket summary lists as creditors the banks and lenders Bank of America, N.A., UMB Bank, N.A., Wilmington Savings Fund Society, FSB, U.S. Bank National Association, Truist Bank, First Guaranty Bank, Planters Bank, Napier Park Global Capital (US) LP, Silver Point Capital, L.P., De Lage Landen Financial Services, Inc. and Toyota Industries Commercial Finance, Inc. It also lists the Official Committee of Unsecured Creditors, an Ad Hoc Group of Lenders, Aequum Capital Financial II LLC as an interested party and Martin De Luca as examiner.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-040" ], "entity_ids": [ "fbg", "bank-of-america", "umb-bank", "wsfs", "us-bank", "truist", "planters-bank", "napier-park", "silver-point", "aequum" ] }, { "id": "c-fac-raistone-examiner", "kind": "attributed", "text": "On October 8, 2025 Raistone, a provider of short-term financing that worked on deals for First Brands, asked the bankruptcy court to appoint an independent examiner, alleging that as much as $2.3 billion had \"simply vanished\" and calling the board's own investigation woefully insufficient. In support it filed an October 2, 2025 email exchange in which, asked whether First Brands had actually received an estimated $1.9 billion and how much was in the segregated accounts for factored receivables, a restructuring lawyer for First Brands at Weil, Gotshal & Manges answered \"We don't know\" and \"$0\".", "qualification": "Allegation in a creditor's motion as reported in the press; the email answers are quoted from the filed exchange.", "response": "First Brands had said that an independent board committee was investigating its use of off-balance-sheet financing.", "outcome": "The U.S. Trustee also sought an examiner on October 15, 2025, and on November 19, 2025 the court ordered the appointment of an examiner.", "source_ids": [ "src-073", "src-074" ], "entity_ids": [ "raistone", "fbg", "weil" ] }, { "id": "c-fac-raistone-oconnor", "kind": "attributed", "text": "A press investigation reported that the Chicago-based hedge fund unit O'Connor of UBS bought a stake in Raistone, a technology platform that provided supply chain financing to First Brands, and also invested directly in First Brands' invoices, as did a joint venture of Mitsui & Co. and Norinchukin Bank. According to the same report, Raistone and Jefferies' Point Bonita fund said before the bankruptcy that the risk lay mainly with blue-chip customers named on the invoices, but revealed afterwards that they had never received funds from those customers directly; the money had come back to them through First Brands.", "qualification": "Press account based on documents and interviews; not a finding by a court.", "response": "", "outcome": "", "source_ids": [ "src-086" ], "entity_ids": [ "raistone", "point-bonita", "fbg" ] }, { "id": "c-fac-katsumi-invoice", "kind": "attributed", "text": "The estate's adversary complaint of November 3, 2025 gives an example of an altered invoice: on May 9, 2025 Brake Parts Inc. LLC sold automotive parts to General Motors for $179.84; on May 19, 2025 that invoice, among thousands of others, was sent to a former First Brands executive in a package to be nominated for factoring to Katsumi Global, LLC, d/b/a Ja Mitsui Capital America, and the list sent to Katsumi showed the same invoice at $9,271.25. According to the complaint, the factor bought the package for about $11.18 million although the invoices were worth only about $2.3 million.", "qualification": "Allegation in the debtors' pending complaint against Patrick James and related parties; not adjudicated.", "response": "Patrick James's motion to dismiss of December 15, 2025 argues that the complaint does not connect James to the factoring and cites hearing testimony that some invoices in the nomination packets were unchanged or lower and that a Katsumi representative had updated the schedule the interim chief executive testified about.", "outcome": "", "source_ids": [ "src-003", "src-026" ], "entity_ids": [ "fbg", "brake-parts-inc", "katsumi", "patrick-james" ] }, { "id": "c-fac-katsumi-exposure", "kind": "attributed", "text": "Katsumi Global is described in press reports as a joint venture of Norinchukin Bank and the Japanese trading house Mitsui & Co. A lawyer for Katsumi said in October 2025 that the venture had $1.75 billion of exposure to First Brands, and interim chief executive Charles Moore alleged in a November 2025 court filing that Katsumi had spent about $11 million on a package of First Brands invoices worth only about $2.3 million.", "qualification": "Exposure figure as stated by Katsumi's lawyer and reported in the press; the invoice allegation is the debtors' and is not adjudicated.", "response": "Patrick James's lawyers have said that the debtors' advisers gave a one-sided account of the transactions and that, according to the hearing evidence, some invoices were unaltered or lower and the factors themselves made changes to the invoice schedules.", "outcome": "", "source_ids": [ "src-026", "src-092" ], "entity_ids": [ "katsumi", "fbg", "charles-moore" ] }, { "id": "c-fac-katsumi-kirschner", "kind": "attributed", "text": "In a July 2026 declaration supporting the debtors' liquidation plan, their expert Marc Kirschner said that Katsumi bought $4.9 billion of prepetition factored invoices from First Brands starting in 2023, that a Katsumi audit in September 2023 found purchased receivables that were falsified, fabricated and inflated, in some cases by up to 180,000%, and that Katsumi informed First Brands of the discrepancies but kept financing its receivables for two more years and sought to resell purchased receivables. Kirschner said Katsumi was owed over $1.7 billion when First Brands collapsed and argued that it knew or should have known it was being paid on at least partly fraudulent invoices.", "qualification": "Litigation assessment by the debtors' retained expert, offered to value potential claims; objectors said the expert was given only selected fragments of information. No claim against Katsumi had been adjudicated.", "response": "Katsumi opposed the plan together with other creditors.", "outcome": "On August 24, 2026 the bankruptcy court denied confirmation of the plan as not feasible without assessing the merits of the expert's arguments.", "source_ids": [ "src-070", "src-085" ], "entity_ids": [ "katsumi", "fbg" ], "adverse_subject_ids": [ "katsumi" ] }, { "id": "c-fac-jefferies-entities", "kind": "attributed", "text": "A petition filed in the Southern District of New York by Patrick James and related companies to enforce a subpoena against Jefferies Financial Group Inc. states that Jefferies also owns Leucadia Asset Management, LLC, Point Bonita Capital, LAM Trade Finance Group LLC, LAM Trade Finance Group I SPV LLC and LAM Trade Finance Group II LLC, and describes Leucadia Asset Management as Jefferies' asset-management arm.", "qualification": "Description in a party's court filing; Jefferies' own letter of October 12, 2025 refers to Point Bonita as a fund in which Jefferies is a 5.9% investor and to Leucadia Asset Management communicating with the fund's investors.", "response": "", "outcome": "", "source_ids": [ "src-049", "src-027" ], "entity_ids": [ "patrick-james", "jefferies-fg", "leucadia", "point-bonita", "lam-tfg", "lam-tfg-i", "lam-tfg-ii" ] }, { "id": "c-fac-point-bonita-receivables", "kind": "attributed", "text": "Jefferies said that its Point Bonita trade-finance fund bought around $715 million of uncollected First Brands invoices. A press report quoted in Patrick James's motion to dismiss said that Leucadia, Jefferies' asset-management arm, had been buying First Brands' expected payments from retailers since 2019, had become one of its biggest financiers, and received near-daily payments from First Brands for years as customers paid the invoices that Point Bonita held.", "qualification": "Figures and description as stated by Jefferies and reported in the press; prosecutors later alleged that many of the invoices were faked or inflated.", "response": "", "outcome": "", "source_ids": [ "src-012", "src-026" ], "entity_ids": [ "jefferies-fg", "point-bonita", "leucadia", "fbg", "patrick-james" ] }, { "id": "c-fac-jefferies-letter", "kind": "fact", "text": "In a letter published on October 12, 2025, Jefferies' chief executive and president said that First Brands sold receivables to the Point Bonita fund under a Master Receivables Purchase Agreement that included a fee letter, and that the agreement had been listed for years on the schedules to First Brands' credit agreement with all its first-lien and second-lien lenders; the fees went to the fund's investors, and outside counsel for First Brands had opined that they did not breach the credit agreement. Jefferies put its own investments at $43 million, or 5.9%, of Point Bonita's receivables purchased from First Brands and a $2 million interest in First Brands' bank loans through Jefferies Finance's Apex platform.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-027" ], "entity_ids": [ "jefferies-fg", "point-bonita", "fbg", "jefferies-finance" ] }, { "id": "c-fac-jefferies-awareness", "kind": "fact", "text": "In the same letter Jefferies said that nobody at Jefferies was aware of fraudulent activity at First Brands and that it learned of the fraud allegations when the public did, after First Brands stopped remitting to Point Bonita the cash collected on receivables the fund owned. It said Leucadia Asset Management had agreed with the fund's investors that they should submit redemption requests, effective December 31, 2025, leading to four quarterly redemption payments ending in October 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-027" ], "entity_ids": [ "jefferies-fg", "point-bonita", "leucadia", "fbg" ] }, { "id": "c-fac-lam-objection", "kind": "attributed", "text": "In an objection to the debtors' factoring procedures motion (Docket No. 1049 in case 25-90399), Leucadia Asset Management and its affiliated LAM Parties said the debtors had admitted committing a massive fraud on them and other Third-Party Factors, acknowledging that many of the receivables they sold were fake or inflated, so that hundreds of millions of dollars were taken from LAM alone and billions in total from the Third-Party Factors.", "qualification": "A creditor's characterisation in a contested filing. The debtors' first-day declaration describes the factoring practices as under investigation, and Patrick James's counsel said Jefferies and its affiliates had not provided evidence for these allegations.", "response": "", "outcome": "On December 31, 2025 the court issued an order authorising a release of funds and adjourning the remaining factoring-procedures matters.", "source_ids": [ "src-049", "src-074" ], "entity_ids": [ "leucadia", "fbg" ], "adverse_subject_ids": [ "fbg" ] }, { "id": "c-fac-leucadia-kirschner", "kind": "attributed", "text": "The debtors' expert Marc Kirschner said in July 2026 that Leucadia Asset Management became suspicious of First Brands in 2023, sending questions about accounts receivable and financing and asking for a call and an on-site visit with then chief financial officer Stephen Graham, a request Kirschner said was met with threats from Edward James. Kirschner argued that Leucadia should have been aware of potentially fraudulent activity from 2023 onwards.", "qualification": "Litigation assessment by the debtors' retained expert; not adjudicated.", "response": "Jefferies said in October 2025 that nobody at Jefferies was aware of fraudulent activity at First Brands. Leucadia Asset Management opposed the debtors' plan, which the court rejected on August 24, 2026 without assessing the expert's arguments.", "outcome": "", "source_ids": [ "src-085", "src-070", "src-027" ], "entity_ids": [ "leucadia", "fbg", "stephen-graham", "edward-james", "jefferies-fg" ], "adverse_subject_ids": [ "leucadia", "edward-james" ] }, { "id": "c-fac-western-alliance", "kind": "attributed", "text": "In March 2026 Western Alliance said it was suing Jefferies Financial for not completing payment of $126.4 million owed on loans tied to First Brands and collateralised by receivables purchased from First Brands. Jefferies replied that Western Alliance had not extended credit to Jefferies but had for over four years made non-recourse loans, without any Jefferies guarantee, to special purpose entities holding First Brands receivables: LAM Trade Finance Group and LAM TFG I SPV LLC, both owned by the Point Bonita master fund. Jefferies called the statement that it \"couldn't\" repay $126 million false and absurd.", "qualification": "Positions of the parties to a pending suit as reported in the press; no ruling is in the retained record.", "response": "Jefferies denied any obligation to repay the non-recourse loans.", "outcome": "", "source_ids": [ "src-121" ], "entity_ids": [ "jefferies-fg", "lam-tfg", "lam-tfg-i", "point-bonita", "fbg" ], "adverse_subject_ids": [ "jefferies-fg" ] }, { "id": "c-fac-point-bonita-investor-suit", "kind": "attributed", "text": "Investors in two British Virgin Islands funds sued over the Point Bonita fund, saying it had claimed to have cash dominion over receivables from First Brands while First Brands in fact retained control of them and may have used them to commit fraud; they sought $18.4 million in damages, according to a March 2026 press report.", "qualification": "Allegations of plaintiffs in a pending suit as reported in the press; no response or ruling is in the retained record.", "response": "", "outcome": "", "source_ids": [ "src-121" ], "entity_ids": [ "point-bonita", "fbg" ], "adverse_subject_ids": [ "point-bonita" ] }, { "id": "c-fac-primerevenue-kirschner", "kind": "attributed", "text": "First Brands used the software platform of PrimeRevenue, a supply-chain-finance platform, in its financing arrangements, including by uploading receivables data to obtain finance from third-party lenders. In a July 2026 declaration the debtors' expert Marc Kirschner suggested litigation against PrimeRevenue, saying its employees had contacted First Brands in 2024 instructing it to check document properties before submitting files, which Kirschner argued showed PrimeRevenue knew the documents were authored by First Brands employees rather than outside suppliers.", "qualification": "Litigation assessment by the debtors' retained expert; not adjudicated. PrimeRevenue says the statements came from a third party who interviewed an employee, which a creditor's counsel called hearsay within hearsay.", "response": "PrimeRevenue said the court did not consider any evidence regarding PrimeRevenue in its plan ruling; that its platform connected the debtors with supply-chain-finance providers who paid each other directly without funds passing through PrimeRevenue; and that it is not a transferee of any potential fraudulent transfers.", "outcome": "", "source_ids": [ "src-070", "src-071" ], "entity_ids": [ "primerevenue", "fbg" ], "adverse_subject_ids": [ "primerevenue" ] }, { "id": "c-fac-primerevenue-strike", "kind": "attributed", "text": "In early September 2026 PrimeRevenue asked the bankruptcy court to strike or seal the statements about it in the First Brands record, calling the allegations scandalous and defamatory, saying they harmed its credibility with lending partners, that the interim chief executive and the debtors' counsel had not conducted reasonable diligence into its business, and that the declarations of Kirschner and Moore had been ruled inadmissible.", "qualification": "PrimeRevenue's own account of its motion as reported in the press.", "response": "", "outcome": "As of September 9, 2026 the court had not ruled on the motion.", "source_ids": [ "src-071" ], "entity_ids": [ "primerevenue", "fbg", "charles-moore" ] }, { "id": "c-fac-indictment-receivables", "kind": "attributed", "text": "The federal indictment against Patrick James and Edward James, unsealed on January 29, 2026, alleges that under their direction First Brands employees routinely submitted fake, inflated and double-pledged invoices to sell and pledge them to factoring counterparties, affecting at least four factoring partners. It alleges that a factor (\"Factor-1\") raised \"huge\" discrepancies in about 2023, that the scheme continued afterwards, including a June 2025 customer invoice of $8,976.24 sold to that factor at $17,826.26 and three days later to another factor at $463,734.92, and that third-party factors now hold about $2.7 billion of fake accounts receivable.", "qualification": "Charges in an indictment are accusations; the defendants are presumed innocent unless proven guilty.", "response": "Patrick James pleaded not guilty to all nine counts and Edward James to the counts against Edward James on February 4, 2026.", "outcome": "Trial was set for February 9, 2027.", "source_ids": [ "src-008", "src-005", "src-066" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ], "adverse_subject_ids": [ "patrick-james", "edward-james" ] }, { "id": "c-fac-indictment-payables", "kind": "attributed", "text": "The indictment also alleges that, at the direction and with the approval of Patrick James and Edward James, First Brands defrauded the financers of its accounts payable: it submitted fabricated supplier-invoice data through financers' online platforms and had the funds sent to a third-party bill processor, which was instructed to return them to First Brands rather than pay suppliers. These self-payments were called \"round trips\" or \"corporate initiatives\" and were monitored as part of daily cash management. The indictment further alleges that consolidated financial statements reported supplier-finance amounts that were a fraction of actual supply-chain-financing liabilities exceeding $1 billion.", "qualification": "Charges in an indictment are accusations; the defendants are presumed innocent unless proven guilty.", "response": "Both defendants pleaded not guilty on February 4, 2026.", "outcome": "", "source_ids": [ "src-005", "src-008", "src-066" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ], "adverse_subject_ids": [ "patrick-james", "edward-james" ] }, { "id": "c-fac-brumbergs-scf", "kind": "attributed", "text": "Pleading guilty in January 2026, former senior vice president of finance Peter Andrew Brumbergs said that between 2020 and 2025 Brumbergs reported false accounts-payable levels to supply-chain financiers, including banks, and that Brumbergs knew some supply invoices were false and that the financial statements given to these lenders did not truly represent the company's financial condition.", "qualification": "Statements in a guilty-plea allocution as reported in the press.", "response": "", "outcome": "Brumbergs pleaded guilty to eight counts, including fraud and conspiracy, and was seeking leniency in exchange for cooperation.", "source_ids": [ "src-012" ], "entity_ids": [ "peter-brumbergs", "fbg" ], "adverse_subject_ids": [ "peter-brumbergs" ] }, { "id": "c-fac-complaint-overview", "kind": "attributed", "text": "The estate's adversary complaint of November 3, 2025 alleges that Patrick James caused First Brands to incur at least $2.3 billion in accounts-receivable factoring liabilities based, at least in significant part, on non-existent or doctored invoices, and engaged in financing through special purpose vehicles that incurred at least another $2.3 billion of debt, including by double-pledging collateral.", "qualification": "Allegations in the debtors' pending complaint; not adjudicated.", "response": "Patrick James's motion to dismiss argues that the complaint does not connect James to the factoring or to the alleged double-pledging beyond conclusory statements.", "outcome": "Ruling on a preliminary injunction on November 12, 2025, the bankruptcy judge said nothing showed that James personally was manipulating invoices, but that it was clear First Brands was moving tens of millions of dollars through unaffiliated accounts.", "source_ids": [ "src-003", "src-026" ], "entity_ids": [ "patrick-james", "fbg" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-fac-evolution-lien", "kind": "fact", "text": "According to a January 31, 2026 opinion of the U.S. District Court for the Southern District of Texas, First Brands sold rights to customer receivables to the factor Evolution Credit Partners, which asserts a first-lien security interest in about $60.5 million of First Brands' receivables. First Brands argues that Evolution has no right to them because of significant irregularities in its previous factoring practices, and says its forensic expert found that Evolution's $60.5 million claim does not match any valid invoices in First Brands' records.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-098" ], "entity_ids": [ "fbg", "evolution-cp" ] }, { "id": "c-fac-factored-account", "kind": "fact", "text": "Payments on factored receivables collected after the petition went into a segregated Factored Receivables Account in the estate, which held between $105.9 million and $109 million when the debtors asked to spend $63 million of it. The bankruptcy court (Docket No. 1133) allowed them to draw up to $60 million, which would leave about $49 million; it did not rule definitively on Evolution's interest but said it was not convinced Evolution had priority over other creditors. On appeal the debtors represented that the account held over $67 million and that the estate was owed about $230 million of outstanding prepetition receivables, and agreed not to seek further releases before a February 19, 2026 hearing.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-098" ], "entity_ids": [ "fbg", "evolution-cp" ] }, { "id": "c-fac-evolution-remand", "kind": "fact", "text": "On January 31, 2026 Senior U.S. District Judge Lee H. Rosenthal (Civil Action H-26-73) remanded Evolution's appeal of the order allowing First Brands to use up to $60 million of cash collateral in which Evolution claims a first-lien interest. The opinion holds that under section 363 a bankruptcy court may inquire into an asserted property interest only to see whether the creditor has a colourable claim, that the bankruptcy court had not ruled that Evolution lacked a security interest, that Evolution likely was not adequately protected when the cash use was allowed, and that new facts created a genuine dispute about its current protection, which the parties could litigate on remand along with whether it holds a first-lien interest.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-098" ], "entity_ids": [ "fbg", "evolution-cp" ] }, { "id": "c-fac-evolution-perfection", "kind": "fact", "text": "In adversary proceeding 26-3006, which Evolution Credit Partners and related entities brought to establish a first-priority interest in about $60.5 million of receivables, the bankruptcy court denied Evolution summary judgment and held that it does not have a perfected security interest in the non-purchased receivables with priority over the postpetition debtor-in-possession lenders, because the collateral description in Evolution's financing statements cannot reasonably be read to include them. Fact issues on Evolution's priority over other prepetition secured lenders remained for trial. On July 27, 2026 Senior U.S. District Judge Lee H. Rosenthal (Civil Action H-26-4705) denied leave to appeal and dismissed Evolution's appeal for lack of jurisdiction, because the order was not final and the dispute over reading the financing statements did not justify an interlocutory appeal.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-099" ], "entity_ids": [ "fbg", "evolution-cp" ] }, { "id": "c-ch11-petition", "kind": "fact", "text": "First Brands Group, LLC filed a voluntary Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of Texas on September 28, 2025. The petition was signed by its Chief Restructuring Officer, Charles M. Moore, with Weil, Gotshal & Manges LLP as counsel, and estimated assets of $1 billion to $10 billion, liabilities of $10 billion to $50 billion and 25,001 to 50,000 creditors on a consolidated basis with all affiliated debtors.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002", "src-001" ], "entity_ids": [ "fbg", "charles-moore", "weil" ], "adverse_subject_ids": [ "fbg" ] }, { "id": "c-ch11-lead-case", "kind": "fact", "text": "The First Brands Group, LLC case, No. 25-90399 (CML), is the lead case of the jointly administered First Brands cases in the Houston Division of the U.S. Bankruptcy Court for the Southern District of Texas and is assigned to Judge Christopher M. Lopez. Charles M. Moore's declaration in support of the petitions was filed on September 29, 2025. The docket summary retained at the evidence cutoff shows the case as a Chapter 7 case with 154 parties and 120 related cases.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-010", "src-040" ], "entity_ids": [ "fbg", "charles-moore" ] }, { "id": "c-ch11-spv-filing", "kind": "fact", "text": "The first-day declaration states that the special-purpose-vehicle debtors filed voluntary Chapter 11 petitions on September 24, 2025 as a protective measure, because remedies threatened by the lenders under the inventory financing facilities could have prejudiced the group's transition into Chapter 11; the remaining debtors filed from September 28, 2025. The declaration counts 112 debtor entities, while a later case summary records First Brands Group, LLC and 98 affiliated debtors filing on September 28, 2025 with funded debt of $9.295 billion.", "qualification": "Debtor counts differ between records because the debtors filed on different days (September 24, 28 and 29, 2025); the 112-entity figure is the declaration's own count.", "response": "", "outcome": "", "source_ids": [ "src-001", "src-040", "src-074" ], "entity_ids": [ "fbg" ] }, { "id": "c-ch11-advisers", "kind": "fact", "text": "A docket summary of the case lists the debtors' advisers as Weil, Gotshal & Manges LLP (bankruptcy counsel for all debtors), Alvarez & Marsal North America, LLC (financial adviser, providing Charles M. Moore as Chief Restructuring Officer), Lazard Frères & Co. (investment banking), Kroll Restructuring Administration LLC (claims and noticing agent) and C Street Advisory Group (strategic communications).", "qualification": "The docket summary dates Moore's appointment as Chief Restructuring Officer to September 26, 2025; the board resolution in the petition records the appointment on September 24, 2025.", "response": "", "outcome": "", "source_ids": [ "src-010", "src-002" ], "entity_ids": [ "fbg", "weil", "alvarez-marsal", "charles-moore", "lazard", "kroll" ] }, { "id": "c-ch11-nol-stipulation", "kind": "fact", "text": "On October 8, 2025 Judge Christopher Lopez entered a stipulation and agreed order between the First Brands debtors, founder Patrick James and the equity holders Mayfair Enterprises LLC, Aztec Corp. and Brake Parts Holdings Inc., under which James and the equity holders agreed to preserve the debtors' approximately $380 million of federal net operating loss carryforwards, part of which is subject to prior limitations, and not to take any action that could cause an ownership change.", "qualification": "Known from a report summarising the order; the order itself is not retained.", "response": "", "outcome": "", "source_ids": [ "src-006" ], "entity_ids": [ "fbg", "patrick-james", "mayfair", "aztec", "bph" ] }, { "id": "c-ch11-dip-parties", "kind": "fact", "text": "The Senior Secured Superpriority Debtor-in-Possession Credit Agreement dated October 2, 2025 names First Brands Group, LLC (formerly Trico Group, LLC) as borrower, First Brands Group Intermediate, LLC (formerly Trico Group Holdings, LLC) as parent, the guarantor restricted subsidiaries that are debtors, Wilmington Savings Fund Society, FSB as administrative agent and collateral agent, and OPY Credit Corp. as trading agent. It was filed in the case on October 6, 2025 as an exhibit to Document 289.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023" ], "entity_ids": [ "fbg", "fbgi", "wsfs", "opy-credit" ] }, { "id": "c-ch11-dip-size", "kind": "fact", "text": "The debtors entered Chapter 11 with a $1.1 billion new-money debtor-in-possession facility, plus roll-up amounts, provided by an ad hoc group of their first- and second-lien creditors, with an initial draw of $500 million shortly after the petition date. Under the credit agreement the facility comprises $1,100,000,000 of new-money term loans and roll-up loans of up to $3,300,000,000, created by assigning certain prepetition first-lien and sidecar term loans as the new money is funded.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-023" ], "entity_ids": [ "fbg" ] }, { "id": "c-ch11-dip-interim-final", "kind": "fact", "text": "The debtors sought access to the $1.1 billion of new money ($500 million on an interim basis) and authority to roll up $3.3 billion of prepetition debt on September 30, 2025; on October 1, 2025 the court allowed interim access to $500 million of new money and a $1.5 billion roll-up. On November 7, 2025 counsel to the ad hoc group announced that, after negotiations with the creditors' committee, Onset, the company and others, the court had approved the $4.4 billion facility including its 3:1 roll-up structure and related fees.", "qualification": "The $4.4 billion figure combines $1.1 billion of new money and the $3.3 billion roll-up; it is not $4.4 billion of new liquidity.", "response": "", "outcome": "", "source_ids": [ "src-035", "src-074", "src-025" ], "entity_ids": [ "fbg", "onset" ] }, { "id": "c-ch11-dip-rates", "kind": "fact", "text": "Under the DIP credit agreement the new-money term loans bear interest at 10.00% a year for SOFR or EURIBOR loans, of which 1.55% is paid in cash and 8.45% in kind, and the roll-up loans bear 7.00% a year paid in kind.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023" ], "entity_ids": [ "fbg" ] }, { "id": "c-ch11-dip-prepetition-first-lien", "kind": "fact", "text": "The DIP credit agreement recites that on the petition date the lenders under the First Lien Term Loan Agreement of February 2, 2018, for which Jefferies Finance LLC was administrative and collateral agent, were owed approximately $4,625,413,695.97 of principal, and that certain lenders had provided $24,500,000 of incremental term loans (the prepetition bridge facility) under Amendment No. 18 dated September 25, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023" ], "entity_ids": [ "fbg", "fbgi", "jefferies-finance" ] }, { "id": "c-ch11-dip-ad-hoc-group", "kind": "fact", "text": "The DIP credit agreement defines the Ad Hoc Group as the ad hoc group of DIP lenders and prepetition first-lien, sidecar and second-lien term lenders represented by the lender advisors, Gibson, Dunn & Crutcher LLP as legal counsel and Evercore Group L.L.C. as financial adviser; it names Alvarez & Marsal Holdings, LLC as financial adviser to the borrower.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023" ], "entity_ids": [ "fbg" ] }, { "id": "c-ch11-dip-fronting", "kind": "fact", "text": "Morgan Stanley Senior Funding, Inc. signed the DIP credit agreement as fronting lender; the members of the Ad Hoc Group agreed to purchase the new-money term loans from the fronting lender.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023" ], "entity_ids": [ "morgan-stanley-sf", "fbg" ] }, { "id": "c-ch11-dip-parent-guaranty", "kind": "fact", "text": "A condition of the first DIP funding was a Debtor in Possession Parent Guaranty executed by Viceroy Private Capital, LLC and First Brands Group Holdings, LLC in favour of the administrative agent, Wilmington Savings Fund Society, FSB, so that the two parent companies guaranteed the DIP loans to First Brands Group, LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023" ], "entity_ids": [ "viceroy", "fbgh", "wsfs", "fbg" ] }, { "id": "c-ch11-dip-draw-conditions", "kind": "fact", "text": "Each extension of credit under the DIP facility had to be approved by the Chief Restructuring Officer; each loan party had to be unaware, after due inquiry, of any fraudulent activity in its business after the petition date; commitments under the prepetition asset-based facility (or a related DIP facility) had to be at least $250,000,000, or the court had to approve the use of that facility's cash collateral; and the borrower had to maintain the \"big 7\" factoring programs on a best-efforts basis.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023" ], "entity_ids": [ "fbg" ] }, { "id": "c-ch11-dip-governance", "kind": "fact", "text": "Section 6.27 of the DIP credit agreement required First Brands Group Intermediate, LLC to appoint a new independent director to its board of managers from two nominees provided by the Ad Hoc Group, to reconstitute the board's restructuring committee with the new director and two existing independent directors, and to delegate to that committee exclusive authority to oversee the Chapter 11 cases and any sale process and to investigate potential claims against insiders and affiliate transactions.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023" ], "entity_ids": [ "fbgi" ] }, { "id": "c-ch11-dip-cro-investigation", "kind": "fact", "text": "The DIP credit agreement required the borrower to keep a Chief Restructuring Officer acceptable to the required lenders, who consented to Charles Moore of Alvarez & Marsal, and required the borrower, Alvarez & Marsal, Lazard and the borrower's counsel to hold calls every two weeks with the lender advisors on the investigation of potential claims against insiders and affiliate transactions.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023" ], "entity_ids": [ "fbg", "charles-moore", "lazard" ] }, { "id": "c-ch11-dip-signatory", "kind": "fact", "text": "Shekhar Kumar, Senior Vice President – M&A, signed the DIP credit agreement for both First Brands Group Intermediate, LLC as parent and First Brands Group, LLC as borrower.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023" ], "entity_ids": [ "shekhar-kumar", "fbgi", "fbg" ] }, { "id": "c-ch11-dip-cash-control", "kind": "fact", "text": "The DIP credit agreement required all cash received by the debtors, including tax refunds, to be held in an account subject to perfected liens and a deposit account control agreement in favour of the collateral agent, Wilmington Savings Fund Society, FSB, and required control agreements over the loan parties' existing deposit and securities accounts within 45 days of closing.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023" ], "entity_ids": [ "fbg", "wsfs" ] }, { "id": "c-ch11-dip-trading", "kind": "attributed", "text": "In January 2026 Oaktree Capital Management and Anchorage Capital were reported to have bought stakes in the $1.1 billion DIP loan, which traded at distressed levels while First Brands negotiated additional financing. The company had sought as much as $800 million of new money from creditors in December 2025 and said in early January 2026 that its funds would last only through the end of that month; creditor advisers said new money required the approval of two-thirds of the existing DIP holders.", "qualification": "Press account of January 23, 2026 citing people familiar with the matter; the purchases are not documented in a retained court record.", "response": "", "outcome": "", "source_ids": [ "src-053" ], "entity_ids": [ "fbg", "oaktree", "anchorage" ], "adverse_subject_ids": [ "fbg" ] }, { "id": "c-ch11-ford-gm", "kind": "fact", "text": "At a hearing on January 29, 2026 the bankruptcy court allowed First Brands to obtain short-term financing from Ford and General Motors, which were to prepay $48 million for parts over the following week so that businesses serving them, employing about 17,000 people in North America, could keep operating. Despite borrowing $1.1 billion after filing, First Brands had said earlier that month that its cash on hand had fallen to $190 million.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-081" ], "entity_ids": [ "fbg" ], "adverse_subject_ids": [ "fbg" ] }, { "id": "c-ch11-early-motions", "kind": "fact", "text": "Several parties sought outside control or dismissal early in the case: Raistone Capital LLC and Raistone Purchasing LLC – Series XXXII moved on October 8, 2025 for the appointment of an examiner (Bankr. Dkt. No. 307), and the U.S. Trustee did so on October 15, 2025; on October 30, 2025 Evolution Credit sought the appointment of a Chapter 11 trustee and the Carnaby senior secured lenders sought dismissal of certain debtors' cases, as did the Aequum senior secured lenders on November 10, 2025. On November 19, 2025 the court ordered the appointment of an examiner.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026", "src-074" ], "entity_ids": [ "raistone", "evolution-cp", "aequum", "fbg" ] }, { "id": "c-ch11-spv-separateness", "kind": "fact", "text": "The debtors litigated with certain SPV lenders over whether the SPV debtors had to be administered separately from the rest of First Brands because they allegedly had separate assets and liabilities, including in Aequum Capital Financial II LLC's motion to dismiss (Bankr. Dkt. No. 631) and in an adversary proceeding brought by Evolution Credit Opportunity Master Fund II-B, L.P. against the debtors (Adv. Dkt. No. 3800).", "qualification": "Described in Patrick James's motion to dismiss the estate's suit against James, which cites these filings.", "response": "", "outcome": "", "source_ids": [ "src-026" ], "entity_ids": [ "fbg", "aequum", "evolution-fund" ] }, { "id": "c-ch11-examiner", "kind": "fact", "text": "The court ordered an examiner to investigate First Brands' prepetition factoring transactions and the transfers and transactions related to its inventory financing arrangements. E. Martin De Luca, appointed in December 2025 in an appointment confirmed by Judge Christopher Lopez, worked on a budget set at $7 million and filed a redacted interim report on April 27, 2026; De Luca wrote that the investigation had been paused because the court-approved budget was exhausted while significant work remained.", "qualification": "The examiner's findings are allegations from an interim report and are described with the estate's claims against insiders; they are not court findings.", "response": "", "outcome": "", "source_ids": [ "src-028", "src-072", "src-050", "src-074" ], "entity_ids": [ "fbg" ] }, { "id": "c-ch11-examiner-budget", "kind": "fact", "text": "On May 4, 2026 the examiner asked to raise the examination budget from a $7 million cap to $10 million. First Brands objected that at least $2 million of the increase reflected expenses already incurred above the approved budget although the examiner knew the ad hoc group did not consent to an increase, and the ad hoc group also objected; on June 18, 2026 the court denied the request.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-072", "src-074" ], "entity_ids": [ "fbg" ] }, { "id": "c-ch11-do-order", "kind": "fact", "text": "On January 7, 2026 Judge Christopher Lopez ruled on the motion concerning directors' and officers' liability insurance policies issued to the non-debtor Mayfair Enterprises, LLC (Document 1231): the Side A policies and their proceeds are not property of the estate, so the automatic stay does not apply to them, while the debtors' interest in the proceeds of the ABC policy is estate property; the request to lift the stay for cause was denied without prejudice.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-016" ], "entity_ids": [ "fbg", "mayfair" ] }, { "id": "c-ch11-do-appeal", "kind": "fact", "text": "The debtors had bought two directors' and officers' insurance towers before the petition, an ABC policy and a Side A policy, each of $100 million made up of a $10 million primary policy and nine $10 million excess layers. Because of the bankruptcy court's D&O order the Side A insurers had to drop down and pay defence costs of the litigation against the debtors' directors and officers. Edward James appealed the order, and on April 24, 2026 Senior U.S. District Judge Lee H. Rosenthal (S.D. Tex., Civil Actions H-26-513 and H-26-962) refused the Official Committee of Unsecured Creditors' motion to dismiss the Side A insurers' appeal, noting that the insurers were in effect joining Edward James's appeal.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-097" ], "entity_ids": [ "edward-james", "fbg" ] }, { "id": "c-ch11-adversaries", "kind": "fact", "text": "The case docket lists adversary proceedings within case 25-90399 including Evolution Credit Opportunity Master Fund II-B, L.P. v. the entities listed on Schedule 1 (25-ap-03800, October 31, 2025), First Brands Group, LLC et al. v. sealed defendants (25-ap-03803, November 3, 2025), First Brands Group, LLC v. Onset Financial, Inc. et al. (26-ap-03005, January 9, 2026), Evolution v. First Brands Group, LLC et al. (26-ap-03006, January 9, 2026), Bank of America, N.A. et al. v. Aequum Capital Financial II LLC et al. (26-ap-03091, April 1, 2026), a suit by the UAW union against First Brands (26-ap-03143, April 29, 2026), Planters Bank v. Onset Financial (26-ap-03683, June 8, 2026) and GLAS Trust Company LLC, as administrative agent, v. Bank of America, N.A. et al. (26-ap-03592, July 28, 2026).", "qualification": "Listing of case captions on the docket; it does not describe the claims or their merits. An adversary filed on February 13, 2026 by individual plaintiffs is not listed by name.", "response": "", "outcome": "", "source_ids": [ "src-040" ], "entity_ids": [ "fbg", "evolution-fund", "onset", "bank-of-america", "aequum", "planters-bank", "glas-trust" ] }, { "id": "c-ch11-party-mayfair", "kind": "fact", "text": "Mayfair Enterprises, LLC appears on the case docket as a creditor, represented by its own counsel.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-040" ], "entity_ids": [ "mayfair", "fbg" ] }, { "id": "c-ch11-interested-parties", "kind": "fact", "text": "The case docket lists as interested parties, among others, the Carnaby II and III secured parties, Leucadia Asset Management LLC and the LAM TFG, LAM TFG I SPV and LAM TFG II entities, Banco Actinver as trustee of an irrevocable management trust, and Patrick James, represented by Quinn Emanuel Urquhart & Sullivan, LLP.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-040" ], "entity_ids": [ "fbg", "leucadia", "lam-tfg", "lam-tfg-i", "lam-tfg-ii", "patrick-james", "quinn-emanuel" ] }, { "id": "c-ch11-former-executives-parties", "kind": "fact", "text": "Former First Brands executives appear separately on the case docket as interested parties with their own counsel, including Michael Baker, Edward James, Stephen Graham, Peter Andrew Brumbergs and Shekhar Kumar; Jefferies Financial Group Inc. and Deva Capital Investment Company, S.L.U. are also listed as interested parties.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-040" ], "entity_ids": [ "fbg", "michael-baker", "edward-james", "stephen-graham", "peter-brumbergs", "shekhar-kumar", "jefferies-fg", "deva-capital" ] }, { "id": "c-ch11-ust-conversion-motion", "kind": "attributed", "text": "On May 13, 2026 the U.S. Trustee moved to convert the cases to Chapter 7 or dismiss them, arguing that a Chapter 7 trustee could liquidate the assets and pursue the litigation claims at a fraction of the existing costs. The U.S. Trustee said the company had already paid at least $245 million of advisory fees to bankruptcy advisers for the company and its creditors through March 2026, including about $77.8 million to its main law firm, and had $233 million of unpaid administrative claims, and that the proceedings improperly favoured a limited group of professionals and lenders.", "qualification": "Arguments of the U.S. Trustee in its motion, as reported; not findings of the court.", "response": "", "outcome": "On June 12, 2026 the court denied the motion to convert or dismiss and conditionally approved the disclosure statement for the debtors' revised plan.", "source_ids": [ "src-047", "src-074" ], "entity_ids": [ "fbg" ], "adverse_subject_ids": [ "fbg" ] }, { "id": "c-ch11-customs-claim", "kind": "attributed", "text": "In June 2026 the U.S. government was reported to have asserted a $286 million claim against First Brands in the bankruptcy, alleging that the company had underpaid tariffs for years.", "qualification": "Government claim as reported in the press; no determination of the claim and no response by the company were found in the retained record.", "response": "", "outcome": "", "source_ids": [ "src-061" ], "entity_ids": [ "fbg" ], "adverse_subject_ids": [ "fbg" ] }, { "id": "c-ch11-pbgc", "kind": "fact", "text": "In June 2026 the Pension Benefit Guaranty Corporation took three First Brands pension plans covering 1,630 current and future retirees into its trusteeship: the plan for bargaining-unit employees of the FRAM plants in Fostoria and Greenville, the plan for Cardone Industries Inc. union employees and the Dalton Corporation Warsaw Manufacturing Facility pension plan.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-072" ], "entity_ids": [ "fbg", "cardone", "dalton" ] }, { "id": "c-ch11-plan-structure", "kind": "fact", "text": "After Judge Lopez refused on May 26, 2026 to approve the disclosure statement for an earlier single-debtor plan, the debtors filed on June 5, 2026 an amended joint liquidating plan for the subsidiaries of First Brands Group Holdings, LLC and Viceroy Private Capital, LLC, the holding company of the Carnaby SPV silo; the SPV debtors were not plan debtors. A litigation trust was to be funded with at least $75 million, including $50 million of committed funding backstopped by certain DIP lenders and $25 million of cash, with Gerard Uzzi as litigation trustee. The debtors' equity interests were to be cancelled when their cases closed, and the remaining rights of the holders of interests in FBG Holdings and Viceroy were to be non-transferable.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-039" ], "entity_ids": [ "fbgh", "viceroy", "fbg" ] }, { "id": "c-ch11-plan-claims", "kind": "fact", "text": "The amended plan estimated allowed claims against the First Brands debtors at $1.335 billion for new-money DIP claims, $3.3 billion for roll-up claims (deemed allowed at that amount, although the debtors put total roll-up claims at about $3.577 billion), $1.991 billion for first-lien claims, $600 million for second-lien claims, $367 million for asset-based (ABL) claims and $5.641 billion for general unsecured claims. On confirmation the ABL agent would be deemed to have foreclosed on the ABL collateral and transferred it to an ABL collateral trust.", "qualification": "Plan estimates as summarised from the plan and disclosure statement; the plan was not confirmed.", "response": "", "outcome": "", "source_ids": [ "src-039" ], "entity_ids": [ "fbg" ] }, { "id": "c-ch11-plan-releases", "kind": "fact", "text": "The amended plan added the First Brands debtors and the special committee members William Transier and Benjamin Duster, as well as Neal Goldman and Benjamin Duster in their capacities as independent managers, to its release and exculpation provisions.", "qualification": "Proposed plan terms; the plan was not confirmed.", "response": "", "outcome": "", "source_ids": [ "src-039" ], "entity_ids": [ "william-transier", "benjamin-duster", "neal-goldman", "fbg" ] }, { "id": "c-ch11-sale-proceeds-paydown", "kind": "fact", "text": "In a June 2026 declaration supporting the plan, Charles Moore disclosed that the debtors had generated approximately $221 million from the Walbro, Toledo Molding & Die and Horizon North America sales and other asset sales, and had used it to pay down secured claims.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-039" ], "entity_ids": [ "charles-moore", "walbro", "tmd", "fbg" ] }, { "id": "c-ch11-suits-stayed", "kind": "attributed", "text": "By June 2026 the debtors' suits against founder Patrick James and against Onset Financial, which together sought more than $2.7 billion in damages, were stayed pending resolution of the criminal charges against James; Judge Lopez directed the parties to report on the criminal proceedings by July 13, 2026, and James's criminal trial was scheduled for February 9, 2027.", "qualification": "The underlying claims are allegations in pending adversary proceedings and have not been adjudicated.", "response": "Patrick James has denied the fraud allegations. After the August 2026 plan ruling, an Onset spokesperson said the court's rejection of the plan was another sign that the debtors' allegations against Onset lacked merit.", "outcome": "", "source_ids": [ "src-039", "src-070" ], "entity_ids": [ "fbg", "patrick-james", "onset" ], "adverse_subject_ids": [ "patrick-james", "onset" ] }, { "id": "c-ch11-litigation-targets", "kind": "attributed", "text": "Court filings made by the debtors in July 2026 argued that more than $25 billion was potentially available through litigation against third-party financing companies, including Katsumi, Jefferies's subsidiary Leucadia Asset Management and the leasing company Onset Financial, as well as against founder Patrick James. Katsumi, Leucadia Asset Management, Onset and the U.S. Trustee objected to the plan.", "qualification": "The $25 billion figure is the debtors' estimate of a potential claim universe based on gross transfers, not a valuation or a court finding.", "response": "Onset said the plan's rejection showed that the debtors' allegations against it lacked merit; Patrick James has denied allegations of fraud.", "outcome": "The court did not assess the merits of these claims when it denied confirmation on August 24, 2026.", "source_ids": [ "src-070", "src-025" ], "entity_ids": [ "fbg", "katsumi", "leucadia", "jefferies-fg", "onset", "patrick-james" ] }, { "id": "c-ch11-plan-denial", "kind": "fact", "text": "In a bench ruling on August 24, 2026 Judge Christopher Lopez refused to confirm the debtors' liquidating plan and later entered a one-page order denying confirmation (Docket No. 3710) that incorporated the ruling. The plan depended on litigation over roughly $25 billion of transfers and needed recoveries of about $1.9 billion to $2.0 billion before administrative claims could be paid in full, possibly pushing the effective date into late 2028; the judge found that recovery case too uncertain and noted that confirmation would immediately transfer assets to trusts, terminate management and impose releases that could not later be unwound.", "qualification": "", "response": "", "outcome": "The court did not decide the merits of the estate's claims or find bad faith, and it overruled several disclosure and process objections.", "source_ids": [ "src-074", "src-025" ], "entity_ids": [ "fbg" ], "adverse_subject_ids": [ "fbg" ] }, { "id": "c-ch11-plan-denial-dip", "kind": "fact", "text": "The ruling also rejected the proposed sale of the estate's litigation claims to the DIP lenders by credit bid, because the lenders' liens attached only to proceeds of certain avoidance actions and not to the claims themselves and because the claims had not been adequately marketed; it held that DIP roll-up claims, being administrative claims, could not serve as the accepting impaired class for Viceroy Private Capital and FBG Holdings, and it refused a preference settlement that let an electing creditor later be removed for alleged adverse conduct.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-025", "src-074" ], "entity_ids": [ "fbg", "viceroy", "fbgh" ] }, { "id": "c-ch11-plan-denial-moore-spv", "kind": "fact", "text": "In the same ruling Judge Lopez noted that the declaration of interim CEO Charles Moore had accepted the $25 billion figure without adjusting for potential defences, gave no real analysis of whether claims could be resolved before a 2028 deadline and took no position on possible federal forfeiture of Patrick James's assets in the criminal case; the judge also found that the plan would transfer claims of the SPVs, which are not part of the First Brands estate and are subject to claims of financiers such as Evolution Credit Partners, saying the debtors \"can't sell what they don't own\".", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-070" ], "entity_ids": [ "charles-moore", "patrick-james", "evolution-cp", "fbg" ] }, { "id": "c-ch11-conversion", "kind": "fact", "text": "On September 1, 2026 Judge Christopher M. Lopez entered an order converting the remaining First Brands Chapter 11 cases to Chapter 7 (Docket No. 3748), a week after the August 24 bench ruling. By then substantially all of the operating businesses had been sold or wound down, most of the roughly $1.1 billion of new-money DIP financing had been spent and at least $222 million of obligations incurred during the bankruptcy remained unpaid; as reported from the ruling, First Brands no longer operated any business and had terminated most of its workforce.", "qualification": "One trade report dated the conversion to August 24, 2026, the day of the bench ruling; the conversion order itself is dated September 1, 2026. Counsel for Onset put the unpaid administrative and priority claims at nearly $300 million.", "response": "", "outcome": "", "source_ids": [ "src-025", "src-051", "src-100", "src-059" ], "entity_ids": [ "fbg" ], "adverse_subject_ids": [ "fbg" ] }, { "id": "c-ch11-conversion-order-terms", "kind": "fact", "text": "The proposed conversion order filed on August 27, 2026 (Docket No. 3722) would convert 108 First Brands debtors to Chapter 7 on entry, noting that Patterson Inventory, Patterson Inventory Holdings, Starlight Inventory I and Starlight Inventory Holdings I had already been converted in April 2026; it preserved the DIP liens and superpriority claims, and provided that the independent directors Neal Goldman, William L. Transier and Benjamin Duster and the officers Charles Moore, Daniel Jerneycic, Gaurav Malhotra and Paul Kosturos would be deemed to have resigned on conversion.", "qualification": "Terms of the proposed order as filed; the final order of September 1, 2026 is not retained.", "response": "", "outcome": "", "source_ids": [ "src-074" ], "entity_ids": [ "fbg", "patterson", "starlight", "neal-goldman", "william-transier", "benjamin-duster", "charles-moore", "daniel-jerneycic", "gaurav-malhotra", "paul-kosturos" ] }, { "id": "c-ch11-spv-conversion-evolution", "kind": "fact", "text": "On April 8, 2026 the debtors sought emergency approval of a settlement allowing the cases of the Evolution SPV debtors to be converted to Chapter 7. On July 8, 2026 Evolution moved to compel the debtors to turn over $21.5 million of accounts receivable collected after the petition, and on July 9, 2026 the Chapter 7 trustee of the SPV debtors joined the motion.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-074" ], "entity_ids": [ "fbg", "evolution-cp" ] }, { "id": "c-ch11-planters-onset", "kind": "attributed", "text": "Planters Bank, whose parent is Planters Holding Company, Inc., sued Onset Financial, Inc. on June 8, 2026 in the U.S. District Court for the Eastern District of Louisiana (No. 2:26-cv-01230), attaching a master lease, master lease schedule 28, a UCC-1 financing statement and an assignment. On September 24, 2026 Judge Carl J. Barbier dismissed the first claim without prejudice and transferred claims two to six to the Southern District of Texas, where the action is pending as adversary proceeding 4:26-ap-03683 in the First Brands case.", "qualification": "The claims are allegations in a pending action; no ruling on their merits is recorded.", "response": "Onset moved to dismiss the complaint under Rules 12(b)(6) and 12(b)(1) or, in the alternative, to transfer it to another venue.", "outcome": "On September 24, 2026 the Louisiana court granted Onset's motion as to the first claim, dismissing it without prejudice, and transferred claims two to six to the Southern District of Texas; no ruling on the merits is recorded.", "source_ids": [ "src-076" ], "entity_ids": [ "planters-bank", "onset", "fbg" ], "adverse_subject_ids": [ "onset" ] }, { "id": "c-sale-walbro", "kind": "fact", "text": "In March 2026 First Brands agreed to sell its Walbro business, which makes small-engine fuel systems, carburetors, fuel pumps and ignition systems, for $50 million. Judge Christopher Lopez approved the private sale to Overdrive Capital, LLC on March 13, 2026, and it closed on March 16, 2026. Overdrive Capital is owned and operated by shareholders and officers of Active Dynamics Group, a Toronto-based supplier, and First Brands said the sale would save about 600 jobs. The Carter Carburetor brand, part of the Walbro business, was excluded from the sale.", "qualification": "The first report of the agreement named Active Dynamics Group itself as the buyer; the purchaser approved by the court was Overdrive Capital, LLC, owned by Active Dynamics' shareholders and officers.", "response": "", "outcome": "", "source_ids": [ "src-063", "src-074", "src-121", "src-051" ], "entity_ids": [ "walbro", "overdrive-capital", "active-dynamics", "fbg" ] }, { "id": "c-sale-tmd", "kind": "fact", "text": "On May 14, 2026 Judge Christopher Lopez signed an order authorizing First Brands Group, LLC to sell the assets of Toledo Molding & Die (TMD) to TNJ Ohio LLC, an affiliate of JVIS, free and clear of existing liens, claims and interests, under an asset purchase agreement dated May 7, 2026 with WMC-KSA Holdings LLC as the buyer's guarantor; court records value the sale at about $80 million. TMD, founded in 1955, supplies the automotive industry with air and fluid management systems and interior components.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-051", "src-062" ], "entity_ids": [ "tmd", "tnj-ohio", "fbg" ] }, { "id": "c-sale-three-divestitures", "kind": "fact", "text": "According to an industry press account of the Chapter 7 conversion, three operating businesses were sold in the First Brands bankruptcy: the Horizon Global towing business for $64 million, Toledo Molding & Die for $80 million and Walbro for $50 million. Together the $194 million recovered a fraction of the $1.1 billion First Brands borrowed under its debtor-in-possession (DIP) facility; the brand and intellectual-property sales closed on undisclosed terms and are not included in that total.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-051" ], "entity_ids": [ "horizon-global", "tmd", "walbro", "fbg" ] }, { "id": "c-sale-pgi-brands", "kind": "fact", "text": "Court documents dated March 25, 2026 show First Brands agreeing to sell 12 brands, including Fram, Autolite and Trico, to PGI Northstar LLC, an affiliate of Premium Guard, for $25 million, with the buyer taking on certain liabilities related to those brands. The debtors described the assets as their Filters and Plugs, Wipers and StrongArm business lines. The NOCO Company objected on April 3, 2026; the court approved the sale of these intellectual-property assets on April 10, 2026 and the sale closed on April 13, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-048", "src-074" ], "entity_ids": [ "pgi-northstar", "fbg" ] }, { "id": "c-sale-pgi-assets", "kind": "fact", "text": "Premium Guard Inc. (PGI), whose affiliate PGI Northstar LLC had bought First Brands intellectual property under a court approval of April 10, 2026, later completed a purchase of further First Brands assets: production lines for oil, air and cabin filters in Albion, Illinois, manufacturing equipment from the former FRAM plant in Ohio, a filtration research and development center and laboratory, and inventory in the United States and Mexico.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-072", "src-074" ], "entity_ids": [ "pgi-northstar", "fbg" ] }, { "id": "c-sale-brake-brands", "kind": "fact", "text": "The brake brands left First Brands in two separate transactions in June 2026, before the case was converted to Chapter 7: Friction One acquired the Raybestos brand, with its formulations, engineering specifications, application data, catalogs and marketing assets, and Motorcar Parts of America acquired the intellectual and digital property behind Centric Parts, Posi Quiet, StopTech, C-TEK and GCX in a Section 363 sale free and clear of liens and claims, without assuming operating liabilities. Terms of both were not disclosed, and neither buyer took over manufacturing operations.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-051" ], "entity_ids": [ "friction-one", "motorcar-parts", "fbg" ] }, { "id": "c-sale-winddown", "kind": "fact", "text": "On January 26, 2026 First Brands announced the wind-down of its North American Brake Parts Inc., Cardone and Autolite businesses after failing to secure funding or complete sales for them; production stopped and the buyers of the brake brands later acquired brand and engineering assets rather than going concerns. On March 23, 2026 the debtors filed a motion to wind down the Brakes, Autolite and Hopkins units. Hilco Global and SB360 Capital Partners were disposing of First Brands inventory and manufacturing equipment for months; remaining tooling, inventory, real property and unsold brand assets pass to the Chapter 7 trustee.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-051", "src-074" ], "entity_ids": [ "brake-parts-inc", "cardone", "autolite", "hopkins-mfg", "fbg" ] }, { "id": "c-sale-closures", "kind": "fact", "text": "In early 2026 First Brands shut 17 facilities and laid off 4,000 workers after concluding that it did not have enough lender support to reorganize; it kept its last major business lines running on prepaid orders from customers such as Ford Motor Co. and Honda Motor Co. while trying to sell its remaining factories.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-060", "src-048" ], "entity_ids": [ "fbg" ] }, { "id": "c-sale-eagle-warn", "kind": "fact", "text": "In a notice under the federal Worker Adjustment and Retraining Notification (WARN) Act dated December 29, 2025 and signed by Shekhar Kumar, Senior Vice President, M&A, First Brands Group, LLC told the Ohio Department of Job and Family Services that it would permanently close the entire Eagle Machining facility at 705 N Fayette Street, Fayette, Ohio, affecting 251 employees, with closure to begin on February 27, 2026, because the plant had underperformed for a year. An updated notice of January 27, 2026 brought the closure forward to that day, affecting 246 employees, 235 of them terminated on January 27, 2026; the company cited failed financing efforts, the failure of its sale process and major customers withholding payments, and named Paul Kosturos as its contact.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-089" ], "entity_ids": [ "fbg", "eagle-machining", "shekhar-kumar", "paul-kosturos" ] }, { "id": "c-sale-eagle-debtor", "kind": "fact", "text": "Eagle Machining, LLC is one of the First Brands affiliated debtors: its Chapter 11 case 4:25-bk-90489 was filed on September 29, 2025 and is jointly administered under First Brands Group, LLC's case 25-90399, and the docket lists it at the group's address, 127 Public Square, Suite 5300, Cleveland, Ohio.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-040" ], "entity_ids": [ "eagle-machining", "fbg" ], "adverse_subject_ids": [ "eagle-machining" ] }, { "id": "c-sale-eagle-local", "kind": "fact", "text": "Ohio local television reported on January 29, 2026 that more than 230 employees of Eagle Machining, whose parent company it named as First Brands Group, had been abruptly laid off at the Fayette, Ohio plant days before two First Brands executives were arrested on federal fraud charges; the village administrator said the loss of jobs and tax base had forced the village to lay off several police officers.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-096" ], "entity_ids": [ "eagle-machining", "fbg" ] }, { "id": "c-sale-bpi-mchenry", "kind": "fact", "text": "Brake Parts Inc. permanently closed its operations in McHenry, Illinois (4400 Prime Parkway, 1100 Corporate Drive and 1380 Corporate Drive). According to its WARN filing with the Illinois Department of Commerce and Economic Opportunity in early February 2026, 389 employees there were or would be laid off: 332 that week and 57 retained for a time to help with the closure. The report described First Brands as the parent company, which had filed for Chapter 11 protection the previous September.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-090" ], "entity_ids": [ "brake-parts-inc", "fbg" ] }, { "id": "c-intl-ultinon-acquisition", "kind": "fact", "text": "According to the March 26, 2026 declaration of the independent director of the Ultinon holding companies, First Brands (FBG) bought the Ultinon automotive-lighting business, until then part of the Lumileds group, from Lumileds Holding B.V. in August 2024 for about $238 million, subject to adjustments. The business makes lights for the aftermarket and for vehicle manufacturers at plants in Aachen (Germany), Pabianice (Poland) and Songzi (China), most recently held about 20% of the global automotive-lighting market, and had generated EBITDA of about $61 million in 2022 and $48 million in 2023.", "qualification": "Other accounts date the transaction differently: a case summary lists a May 2024 sale announcement by Lumileds and July 2024 completion, and German legal press says First Brands took over the business in May 2024.", "response": "", "outcome": "", "source_ids": [ "src-105", "src-104", "src-106" ], "entity_ids": [ "lumileds", "ultinon-holding", "fbgh" ] }, { "id": "c-intl-ultinon-chain", "kind": "fact", "text": "The organisation chart filed with the Ultinon holding companies' first-day declaration (Case No. 26-90428, March 26, 2026) shows the Ultinon business held through a chain beginning at First Brands Group Holdings, LLC (Delaware), then KTRI Holdings, Inc. (Delaware), Trico Products Corporation (New York), Trico Investments Corporation (Delaware) and Trico Belgium S.A. (Belgium), to Liberty I B.V., its direct subsidiary Liberty II B.V. and Liberty II's direct subsidiary Ultinon Motion Holding B.V. (all Netherlands). Twenty operating subsidiaries in 19 countries, including Ultinon Motion Germany GmbH, sit beneath Ultinon Motion Holding B.V.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-105", "src-104" ], "entity_ids": [ "fbgh", "ktri", "trico-products", "trico-investments", "trico-belgium", "liberty-i", "liberty-ii", "ultinon-holding", "ultinon-germany" ] }, { "id": "c-intl-santander", "kind": "fact", "text": "In connection with the Ultinon acquisition, Liberty II B.V. borrowed under a Senior Facilities Agreement dated July 30, 2024 with Banco Santander, S.A. as agent and security agent, initially €140 million of Facility B term loans, guaranteed and secured by several Ultinon companies; at the March 26, 2026 petition date the agent held security over certain assets of the debtors but not over the cash in their bank accounts. A case summary lists Banco Santander's claim as agent at about $121.5 million, the largest creditor claim in the Ultinon cases.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-104", "src-105" ], "entity_ids": [ "liberty-ii", "banco-santander" ] }, { "id": "c-intl-rescue-funding", "kind": "fact", "text": "After First Brands' own Chapter 11 filing, Liberty II B.V. entered a forbearance and waiver agreement on September 28, 2025; on October 27, 2025 Deva Capital Investment Company, S.L.U., a private-debt firm wholly owned by Santander, provided €5 million of emergency funding to Liberty I and Liberty II; and on November 17, 2025 KTRI Holdings, Inc., a debtor in the First Brands cases, lent Liberty II B.V. $7.6 million drawn from the First Brands debtor-in-possession (DIP) financing. A First Brands funding motion of November 21, 2025, approved on November 25, 2025, contemplated $60 million of funding for Liberty I and its subsidiaries (75% from KTRI, 25% from Deva), with KTRI also to buy, through a funded sub-participation at a significant discount, 75% of the outstanding Facility B principal.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-105" ], "entity_ids": [ "liberty-i", "liberty-ii", "deva-capital", "banco-santander", "ktri", "fbg" ] }, { "id": "c-intl-appointees", "kind": "attributed", "text": "In the same declaration the independent director stated that after the acquisition First Brands (FBG) replaced the directors or management of various Ultinon companies with its own personnel; many boards consisted of the same group of \"FBG Appointees\", including Edward James and Michael Baker. On information and belief, the declaration says, these appointees authorized and directed the transfer of tens of millions of dollars of value, including significant cash, out of the Ultinon business without receiving value in return, transfers that appear to have been designed to benefit FBG entities or perhaps individual members of FBG management.", "qualification": "Statement made on information and belief in a first-day declaration of the Ultinon debtors; it identifies no specific transfer and no court has ruled on it. The declarant was appointed only from November 21, 2025.", "response": "", "outcome": "No claim against the appointees had been brought or decided in the retained records. The declaration said that decisions on which claims to bring, and their funding, would be left to the trustee of a litigation trust; the Ultinon plan of liquidation was confirmed on August 20, 2026 and its effective date was noticed on October 12, 2026.", "source_ids": [ "src-104", "src-105", "src-112" ], "entity_ids": [ "ultinon-holding", "edward-james", "michael-baker", "fbgh" ], "adverse_subject_ids": [ "edward-james", "michael-baker" ] }, { "id": "c-intl-donath", "kind": "fact", "text": "Jame Donath was appointed independent director of Liberty I B.V. and Liberty II B.V. on November 21, 2025 and a director of Ultinon Motion Holding B.V. on February 3, 2026, and gave the first-day declaration filed on March 26, 2026 in support of the three holding companies' Chapter 11 petitions.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-105" ], "entity_ids": [ "jame-donath", "liberty-i", "liberty-ii", "ultinon-holding" ] }, { "id": "c-intl-chapter11", "kind": "fact", "text": "On March 26, 2026 Ultinon Motion Holding B.V., Liberty I B.V. and Liberty II B.V. filed Chapter 11 petitions in the U.S. Bankruptcy Court for the Southern District of Texas (lead case 26-90428, with 26-90429 and 26-90430), before Judge Christopher M. Lopez, who presides over the First Brands cases; the Ultinon cases are not jointly administered with First Brands case 25-90399. The stated purpose was to preserve claims and causes of action, including claims under chapter 5 of the Bankruptcy Code, and transfer them to a litigation trust under a plan of liquidation; Kroll Restructuring Administration LLC was the claims and noticing agent. The plan was confirmed on August 20, 2026, and on October 12, 2026 Kroll gave notice of the order approving the combined disclosure statement and plan of liquidation and of the occurrence of the effective date. First Brands Group, LLC, Lumileds Holding B.V. and Wilmington Savings Fund Society appeared as interested parties, and Banco Santander, S.A. as a creditor.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-104", "src-112", "src-105" ], "entity_ids": [ "ultinon-holding", "liberty-i", "liberty-ii", "kroll", "fbg", "lumileds", "wsfs", "banco-santander" ], "adverse_subject_ids": [ "ultinon-holding", "liberty-i", "liberty-ii" ] }, { "id": "c-intl-cash-factoring", "kind": "fact", "text": "At the March 26, 2026 petition date the three Ultinon holding companies held about $3.4 million in 22 bank accounts at five banks; Citibank, their primary bank, held 10 of the accounts. Ultinon Motion Holding B.V. had received advances under an International Factoring Agreement of August 8, 2024 with Crédit Agricole Leasing & Finance (CALF) into Citibank euro and Polish zloty accounts and used them to fund the Ultinon operating companies; the declaration expected no further factoring receipts after the filing.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-105" ], "entity_ids": [ "ultinon-holding", "calf", "citibank" ] }, { "id": "c-intl-lumileds-attachment", "kind": "fact", "text": "On the petition date, March 26, 2026, Lumileds Holding B.V., the seller of the Ultinon business, obtained a precautionary attachment of funds in Ultinon Motion Holding B.V.'s Citibank account in the Netherlands. The independent director's declaration says this attachment, together with payment demands the debtors could not meet and a stalled sale process that neither their lenders nor the First Brands DIP lenders would fund further, led the Ultinon holding companies to file for Chapter 11 to obtain the automatic stay.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-105" ], "entity_ids": [ "lumileds", "ultinon-holding", "citibank" ] }, { "id": "c-intl-ultinon-local", "kind": "fact", "text": "The Ultinon declaration lists at least four significant Ultinon operating companies that had begun local insolvency proceedings: Ultinon Motion Germany GmbH in Germany in February 2026, and Ultinon Motion Netherlands B.V., Ultinon Motion Poland S.A. and Ultinon Motion Sweden AB in March 2026; just before the filing the director was told the Polish application might not have been accepted.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-104", "src-105" ], "entity_ids": [ "ultinon-germany", "ultinon-holding" ], "adverse_subject_ids": [ "ultinon-germany" ] }, { "id": "c-intl-ultinon-germany", "kind": "fact", "text": "Ultinon Motion Germany GmbH, the Aachen plant of the lighting business (formerly known as Lumileds Lampen & Accessoires, about 500 employees), applied for insolvency in early 2026, and the Aachen local court appointed Wolfgang Piroth of the Husemann firm as provisional insolvency administrator. The company attributed the insolvency to the strained situation in the automotive sector and to the burden on its liquidity from the US parent First Brands' insolvency proceedings opened at the end of September 2025 (the First Brands petitions were filed on September 24, 28 and 29, 2025). In the proceeding 92 IN 26/26, the administrator notified the Aachen court on July 31, 2026 that the estate was insufficient to cover its liabilities (Masseunzulänglichkeit), as published by the court on August 3, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-117", "src-103", "src-106", "src-105" ], "entity_ids": [ "ultinon-germany", "wolfgang-piroth", "fbg" ], "adverse_subject_ids": [ "ultinon-germany" ] }, { "id": "c-intl-ultinon-germany-register", "kind": "fact", "text": "German commercial-register data list Ultinon Motion Germany GmbH under HRB 19283 at the Aachen local court (previously HRB 124680 at the Hamburg local court), with its address at Philipsstr. 8, 52068 Aachen, and legal entity identifier 54930036OMKCSQ0TI119; the entry is marked as in liquidation.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-113", "src-117" ], "entity_ids": [ "ultinon-germany" ], "adverse_subject_ids": [ "ultinon-germany" ] }, { "id": "c-intl-de-overview", "kind": "attributed", "text": "Press reports from November 4, 2025 said several German units of the group had filed for insolvency after First Brands Group Holdings' Chapter 11 filing. A German press overview of December 5, 2025 said three recently acquired German companies were already in insolvency proceedings: Diepersdorf Plastic Manufacturing, the former Bolta-Werke with about 800 employees, insolvent again after an earlier insolvency; the CoFo group, which makes components for suppliers such as ZF and Bosch; and the seal maker Meteor, which Aequita had sold to First Brands only in September 2025, weeks before the buyer's collapse, with the insolvency administrator examining whether the sale had actually been completed.", "qualification": "Press accounts; they cite no court files, and ownership of these companies by a First Brands group company is stated by the press. Whether the Meteor purchase was completed was under review by its administrator.", "response": "", "outcome": "German courts appointed administrators in each case: the Krefeld local court appointed a provisional administrator for the two CoFo companies on November 24, 2025, the Hildesheim local court one for Meteor on December 2, 2025, and the Nuremberg local court appointed an administrator for the former Bolta-Werke for the second time after 2022. A later trade-press report said all three administrators were reviewing offers from investors; no record of the result of the review of the Meteor sale was found.", "source_ids": [ "src-101", "src-102", "src-116", "src-115", "src-106" ], "entity_ids": [ "fbgh", "diepersdorf", "cofo", "meteor", "fbg" ], "adverse_subject_ids": [ "diepersdorf", "cofo", "meteor" ] }, { "id": "c-intl-westfalia-press", "kind": "attributed", "text": "The December 2025 German press overview said Westfalia-Automotive, a maker of trailer hitches, depended financially on its parent: a letter of comfort (Patronatserklärung) was meant to secure its liquidity, and its auditor had warned in the previous annual accounts of shortfalls if that support stopped. Industry sources quoted in the same report described Westfalia as profitable and liquid enough to manage without funds from the US parent for the time being, and a separation from the group was considered possible.", "qualification": "Press account of an auditor's warning and of industry sources; the annual accounts themselves are not in the retained record.", "response": "", "outcome": "", "source_ids": [ "src-102" ], "entity_ids": [ "westfalia", "fbg" ] }, { "id": "c-intl-westfalia-register", "kind": "fact", "text": "German commercial-register data for Westfalia-Automotive GmbH (Gütersloh local court, HRB 8808) show a current 100% link to Westfalia-Automotive Holding GmbH and name Tomasz Marcin Sgaslik as managing director of both companies; the data also record an earlier consolidation of Westfalia-Automotive GmbH in the holding company as its parent.", "qualification": "Register data as rendered by a data aggregator, which does not verify the direction of the links; the US holding companies above the Westfalia companies are not shown there.", "response": "", "outcome": "", "source_ids": [ "src-119" ], "entity_ids": [ "westfalia", "westfalia-holding", "tomasz-sgaslik" ] }, { "id": "c-intl-diepersdorf", "kind": "fact", "text": "The former Bolta-Werke in Diepersdorf, now trading as Plastic Manufacturing and also producing in Lüdenscheid and Oberlungwitz, filed for insolvency in early November 2025. The Nuremberg local court appointed Volker Böhm of Schultze & Braun as administrator, Böhm's second appointment for the business after 2022, when Böhm sold it to the Czech Winning Group, which passed it to First Brands in 2024.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-106", "src-102" ], "entity_ids": [ "diepersdorf", "volker-boehm", "fbg" ], "adverse_subject_ids": [ "diepersdorf" ] }, { "id": "c-intl-diepersdorf-court", "kind": "fact", "text": "In the insolvency proceeding of Diepersdorf Plastic Manufacturing GmbH (Nuremberg register HRB 40825, Industriestraße 22, Leinburg; case IE 1607/25), the Nuremberg local court appointed lawyer Katharina Franke as special insolvency administrator to examine the claims lodged against Diepersdorf by Volker Böhm as administrator of Linden Plastic Manufacturing GmbH and SMK Plastic Manufacturing GmbH; the notice, dated March 13, 2026 in its reprint, lists Weil, Gotshal & Manges LLP (Frankfurt) as the debtor's representatives.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-118" ], "entity_ids": [ "diepersdorf", "katharina-franke", "volker-boehm", "linden-plastic", "smk-plastic", "weil" ], "adverse_subject_ids": [ "diepersdorf" ] }, { "id": "c-intl-diepersdorf-register", "kind": "fact", "text": "German commercial-register data list Diepersdorf Plastic Manufacturing GmbH under HRB 40825 at the Nuremberg local court (previously HRB 273335 in Munich), at Industriestr. 22, Leinburg, with former names including Winning Plastics - Diepersdorf GmbH and Winning Germany 7 GmbH.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-114" ], "entity_ids": [ "diepersdorf" ] }, { "id": "c-intl-diepersdorf-officers", "kind": "attributed", "text": "An aggregator's rendering of German register data links a 100% shareholding in Diepersdorf Plastic Manufacturing GmbH in 2022 to the Czech company Winning Plastics a.s. and lists Michael Simon Baker, Stephen E. K. Graham and Shekhar Kumar as former managing directors of Diepersdorf; the names match three First Brands executives, Michael Baker, Stephen Graham and Shekhar Kumar.", "qualification": "Aggregator data; the direction of the links is not verified and the entries give no dates of appointment or birth, so the identification with the First Brands executives rests on the names and the group context.", "response": "", "outcome": "", "source_ids": [ "src-114" ], "entity_ids": [ "diepersdorf", "winning-plastics", "michael-baker", "stephen-graham", "shekhar-kumar" ] }, { "id": "c-intl-cofo", "kind": "fact", "text": "By an order of November 24, 2025 the Krefeld local court appointed Jan-Philipp Hoos, a White & Case partner, as provisional insolvency administrator of the automotive suppliers CoFo PWK GmbH (Krefeld) and CoFo Räuchle GmbH (Dietenheim), the two companies of the CoFo group, which employed about 500 people at two production sites in Germany; operations continued in full.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-116", "src-106" ], "entity_ids": [ "cofo", "jan-philipp-hoos" ], "adverse_subject_ids": [ "cofo" ] }, { "id": "c-intl-meteor", "kind": "fact", "text": "Meteor GmbH of Bockenem, a long-established maker of automotive seals with about 400 employees, applied for insolvency in early December 2025, citing the insolvency of its US parent group First Brands. On December 2, 2025 the Hildesheim local court appointed Rainer Eckert provisional insolvency administrator; production continued and Meteor group companies outside Germany were not affected.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-115", "src-106" ], "entity_ids": [ "meteor", "rainer-eckert", "fbg" ], "adverse_subject_ids": [ "meteor" ] }, { "id": "c-intl-organigram", "kind": "fact", "text": "The group organisation chart attached to First Brands Group, LLC's bankruptcy petition (case 25-90399), whose text survives only without its layout, lists among the group's companies Ultinon Motion Holding BV and the Ultinon Motion and Lumileds-named operating companies, Liberty I B.V. and Liberty II B.V., Westfalia-Automotive in the Horizon Global part of the chart, and FRAM Group (Canada) Inc. next to FRAM Group Holdings.", "qualification": "The recognised chart text loses its lines and boxes, so ownership percentages and direct holders cannot be read from it.", "response": "", "outcome": "", "source_ids": [ "src-002" ], "entity_ids": [ "fbg", "ultinon-holding", "liberty-i", "liberty-ii", "westfalia", "fram-canada" ] }, { "id": "c-intl-fram-canada", "kind": "fact", "text": "FRAM Group (Canada) Inc., a Toronto-based sales and distribution company of the FRAM filter group (acquired by First Brands in March 2019), made an assignment for the general benefit of creditors under the Bankruptcy and Insolvency Act on April 30, 2026, reporting assets of about $4.5 million and liabilities of about $4.9 million. The Official Receiver's certificate gives May 1, 2026, 07:10 as the date and time of bankruptcy (estate no. 31-3367690) and appoints TDB Restructuring Limited as licensed insolvency trustee, with the first creditors' meeting set for May 19, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-107", "src-108", "src-109", "src-111" ], "entity_ids": [ "fram-canada", "tdb", "fbg" ], "adverse_subject_ids": [ "fram-canada" ] }, { "id": "c-intl-hopkins-canada", "kind": "fact", "text": "Hopkins Canada, Inc., of the Hopkins accessories group (acquired by First Brands in November 2023), which had converted its Blenheim plant into a warehouse around April 2026, filed an assignment in bankruptcy on May 4, 2026, reporting assets of about $6.3 million and liabilities of about $6.6 million; TDB Restructuring Limited was appointed trustee by the Official Receiver. The directors of both Canadian companies had been told that their groups' operations would cease on April 30, 2026 without further funding, after First Brands' accelerated marketing process launched on January 5, 2026 drew no bids for the Canadian entities.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-110", "src-107" ], "entity_ids": [ "hopkins-canada", "tdb", "fram-canada", "fbg" ], "adverse_subject_ids": [ "hopkins-canada" ] }, { "id": "c-suit-complaint", "kind": "attributed", "text": "On November 3, 2025 First Brands Group, LLC and its affiliated debtors, represented by Weil, Gotshal & Manges LLP, filed an adversary proceeding (No. 25-03803) in the U.S. Bankruptcy Court for the Southern District of Texas against Patrick James, the Patrick James Trust and seven companies the complaint describes as under James's control: Albion Realty, LLC, Alester Technologies LLC, Battery Park Holdings LLC, Bond Street Asset Management LLC, Ignite Acquisition Holdings LLC, Larchmont LLC and Pegasus Aviation, LLC. Its eight counts seek turnover of estate property, avoidance of actual and constructive fraudulent transfers, money had and received, unjust enrichment, a constructive trust, an accounting and recovery of illegal dividends. Interim chief executive Charles Moore verified the complaint's factual allegations.", "qualification": "The complaint sets out the debtors' allegations, many made on information and belief; none had been adjudicated by the evidence cutoff, and the proceeding was stayed in April 2026 pending the parallel criminal case.", "response": "In early November 2025 a spokesman for Patrick James called the suit \"baseless\" and \"speculative\", and James's lawyers said the transfer claims were not supported by evidence or documented asset tracing.", "outcome": "", "source_ids": [ "src-003", "src-026", "src-069", "src-079" ], "entity_ids": [ "fbg", "patrick-james", "pj-trust", "albion-realty", "alester", "battery-park", "bond-street", "ignite", "larchmont", "pegasus-aviation", "weil", "charles-moore" ], "adverse_subject_ids": [ "patrick-james", "pj-trust", "albion-realty", "alester", "battery-park", "bond-street", "ignite", "larchmont", "pegasus-aviation" ] }, { "id": "c-suit-defendants", "kind": "attributed", "text": "The complaint describes the Patrick James Trust as created on March 10, 2005 with Patrick James as grantor, and the corporate defendants as companies under James's control: Albion Realty, LLC (Delaware, incorporated August 4, 2020), Alester Technologies LLC (Delaware, May 18, 2020), Battery Park Holdings LLC (Delaware, May 30, 2012), Bond Street Asset Management LLC (Delaware, October 24, 2022), Ignite Acquisition Holdings LLC (Delaware, August 25, 2023), Larchmont LLC (Ohio, April 17, 2006) and Pegasus Aviation, LLC (Delaware, August 24, 2021). All of them, with Patrick James, are represented by the same counsel, Quinn Emanuel Urquhart & Sullivan, LLP.", "qualification": "Control by Patrick James is the debtors' description; registry records for these companies were not retained.", "response": "", "outcome": "", "source_ids": [ "src-026", "src-003" ], "entity_ids": [ "patrick-james", "pj-trust", "albion-realty", "alester", "battery-park", "bond-street", "ignite", "larchmont", "pegasus-aviation", "quinn-emanuel" ] }, { "id": "c-suit-rule71", "kind": "fact", "text": "In the related miscellaneous case in the Southern District of New York (No. 1:26-mc-00007), Albion Realty LLC, Alester Technologies LLC, Battery Park Holdings LLC, Bond Street Asset Management LLC, Ignite Acquisition Holdings LLC and Pegasus Aviation LLC each filed a corporate disclosure statement under Rule 7.1 stating that it has no corporate parent.", "qualification": "A Rule 7.1 statement identifies corporate parents only; it does not name individual owners.", "response": "", "outcome": "", "source_ids": [ "src-078" ], "entity_ids": [ "albion-realty", "alester", "battery-park", "bond-street", "ignite", "pegasus-aviation" ] }, { "id": "c-suit-diversion-theory", "kind": "attributed", "text": "The debtors' complaint alleges that, after securing financing for First Brands, Patrick James did not use all of the funds for the company but, aided by the other defendants, diverted company assets for personal use: hundreds of millions of dollars were transferred from First Brands to James or James's affiliated entities from 2018 to 2025, most of them between 2023 and 2025. The complaint also acknowledges that funds may have flowed into the company from James or James's entities in the same period and says James never provided a full accounting. It states that the debtors held about $12 million in cash at the petition date despite stated annual net sales of about $5 billion.", "qualification": "Allegations in the estate's adversary complaint, not adjudicated.", "response": "James's lawyers answered that the hearing evidence showed their client transferred at least tens of millions of dollars into First Brands and that payments to and from the Patrick James Trust were recorded in the company's general ledger.", "outcome": "", "source_ids": [ "src-003", "src-026" ], "entity_ids": [ "patrick-james", "fbg", "pj-trust" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-suit-trust-transfers", "kind": "attributed", "text": "According to the debtors' complaint, more than $700 million was moved from First Brands directly to Patrick James and James's affiliated entities from 2018 to 2025, including more than $600 million distributed from First Brands' bank accounts to the Patrick James Trust for no consideration. The complaint cites internal messages showing that in January 2024 James \"wanted to have the distribution funds sent\" to two trust accounts, after which $25 million was paid that day, and a second $25 million distribution in October 2024; it says the company's advisers found no documentation treating these payments as ordinary dividends, apart from general-ledger entries.", "qualification": "Allegations in the estate's adversary complaint, not adjudicated.", "response": "James's motion to dismiss argues that at least some of the payments to the trust were tax distributions that a pass-through Delaware LLC makes to its members, and that the trust deposited $80 million into the company between December 23 and 27, 2024 and at least $34 million between July 15 and 25, 2025; James's lawyers say their client put at least $600 million back into First Brands before the Chapter 11 filing.", "outcome": "", "source_ids": [ "src-003", "src-026", "src-091" ], "entity_ids": [ "patrick-james", "pj-trust", "fbg" ], "adverse_subject_ids": [ "patrick-james", "pj-trust" ] }, { "id": "c-suit-onset-proceeds", "kind": "attributed", "text": "The complaint links transfers to the trust to sale-leaseback funding from Onset Financial received by SPVs that sit under Viceroy Private Capital, LLC. It says that on April 4, 2025 Carnaby FA, LLC received $67.2 million from Onset and paid the Patrick James Trust about $17 million the same day; that on January 15, 2025 Carnaby Inventory IV, LLC received about $192 million from Onset and paid $25 million into a trust account; and that Carnaby IV transferred $35 million to the trust on March 10, 2025 and another $35 million on March 13, 2025. Overall, it alleges, of more than $1 billion of financing First Brands received from Onset between April 2024 and March 2025, over approximately $200 million went to James or James's affiliated entities.", "qualification": "Allegations in the estate's adversary complaint, not adjudicated.", "response": "James's motion to dismiss says the complaint does not give the date, time or transferor for the $200 million it attributes to Onset financing, and that hearing evidence did not connect James to any double-pledging of collateral.", "outcome": "", "source_ids": [ "src-003", "src-026" ], "entity_ids": [ "patrick-james", "pj-trust", "onset", "carnaby-fa", "carnaby-iv", "viceroy", "fbg" ], "adverse_subject_ids": [ "patrick-james", "pj-trust" ] }, { "id": "c-suit-james-companies", "kind": "attributed", "text": "The complaint states that Battery Park Holdings LLC, which it describes as 100% owned by Patrick James and not directly affiliated with First Brands, received more than $10 million from First Brands from 2018 to 2025 to pay personal and family expenses, partly through invoices that mixed personal and business items; that about $35 million was transferred to Larchmont LLC, another company it says James owns and controls, over the same period; and that transfers in the millions of dollars went to James's real estate holding company, Albion Realty LLC. It alleges that the other corporate defendants also received transfers from First Brands.", "qualification": "Allegations in the estate's adversary complaint, not adjudicated; amounts for Albion Realty and the remaining defendants are not specified.", "response": "At the preliminary-injunction stage the bankruptcy court found no evidence of likelihood of success on any claim against Albion Realty, Alester Technologies, Bond Street Asset Management, Ignite Acquisition Holdings, Larchmont or Pegasus Aviation.", "outcome": "", "source_ids": [ "src-003", "src-026" ], "entity_ids": [ "patrick-james", "battery-park", "larchmont", "albion-realty", "fbg", "alester", "bond-street", "ignite", "pegasus-aviation" ], "adverse_subject_ids": [ "patrick-james", "battery-park", "larchmont", "albion-realty" ] }, { "id": "c-suit-personal-spending", "kind": "attributed", "text": "The complaint further alleges that company funds paid for personal expenses of James and the James family, including more than $2 million of payroll for James's \"family office\" in 2025, at least $3 million of rent for a residence from 2019 through 2024 and about $500,000 for a private chef in 2025, and that transfers to entities James controlled preceded purchases of homes; it states that James owns at least seven properties and at least seventeen exotic cars.", "qualification": "Allegations in the estate's adversary complaint, largely on information and belief; not adjudicated.", "response": "A spokesman for James denied the allegations as \"baseless\" and \"speculative\"; James's lawyers said the complaint relied on the \"unsupported mental leap\" that transfers made close in time to personal purchases must have funded them.", "outcome": "", "source_ids": [ "src-003", "src-079" ], "entity_ids": [ "patrick-james", "fbg" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-suit-injunction", "kind": "fact", "text": "The bankruptcy court granted the debtors a temporary restraining order on November 3, 2025, the day the complaint was filed, held an evidentiary hearing on November 10 and on November 12, 2025 denied the preliminary injunction that would have frozen the assets of Patrick James and James's companies. According to the defendants' later motion quoting the transcript, the court found no evidence of likelihood of success for Albion Realty, Alester Technologies, Bond Street Asset Management, Ignite Acquisition Holdings, Larchmont or Pegasus Aviation, no substantial threat of irreparable injury, and a balance of harms favouring the defendants. The judge also said there was \"nothing showing that James, himself, was manipulating invoices\" but that First Brands was \"moving tens of millions of dollars through unaffiliated accounts\", and that the conduct did not appear to be the work of one person but \"was all done while James was CEO.\"", "qualification": "The ruling addressed preliminary relief only, not the merits of the claims.", "response": "", "outcome": "", "source_ids": [ "src-026", "src-049" ], "entity_ids": [ "fbg", "patrick-james", "albion-realty", "alester", "bond-street", "ignite", "larchmont", "pegasus-aviation" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-suit-motion-dismiss", "kind": "fact", "text": "On December 15, 2025 Patrick James, the Patrick James Trust and the seven companies, represented by Debevoise & Plimpton LLP and Quinn Emanuel Urquhart & Sullivan, LLP, moved to dismiss the complaint under Federal Rule of Civil Procedure 12(b)(6), or alternatively for a more definite statement. They argued that the eight counts sound in fraud without the particularity Rule 9(b) requires, rely on group pleading and \"information and belief\", do not list the challenged transfers, dates, transferors or transferees, and are partly barred by the doctrine of in pari delicto and by lookback and limitation periods.", "qualification": "", "response": "", "outcome": "On December 19, 2025 the parties stipulated to extend the debtors' deadline to respond to the motion to January 19, 2026; in April 2026 all discovery in the proceeding was stayed pending the criminal case.", "source_ids": [ "src-026", "src-122", "src-069" ], "entity_ids": [ "patrick-james", "pj-trust", "albion-realty", "alester", "battery-park", "bond-street", "ignite", "larchmont", "pegasus-aviation", "quinn-emanuel" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-suit-defense-narrative", "kind": "attributed", "text": "In the motion, James's lawyers argued that the Debtors' account blamed their client alone while other parties may have done wrong: evidence at the injunction hearing did not link James to manipulated invoices or double-pledged collateral, in some instances invoices were unchanged or lower and factors themselves edited the schedules, and BDO audited the company's financial statements after 2020. They described the factoring as in substance unsecured lending in which First Brands kept servicing the receivables, and said off-balance-sheet lenders, Onset Financial in particular, charged onerous fees and engaged in \"predatory practices\" that, together with tariffs that raised landed inventory costs by about $99 million between April and August 2025, drained the company before the filing.", "qualification": "Arguments of the defendants in a pending motion; the debtors disputed them and the court had not ruled before the April 2026 stay.", "response": "", "outcome": "", "source_ids": [ "src-026", "src-049", "src-069" ], "entity_ids": [ "patrick-james", "bdo", "onset", "fbg" ] }, { "id": "c-suit-us-stay", "kind": "fact", "text": "In April 2026 the bankruptcy court granted the United States' motion to intervene in the adversary proceeding and stayed all discovery pending resolution of the parallel criminal case against Patrick and Edward James, accepting the government's argument that the civil case would allow James to circumvent discovery limits of the Federal Rules of Criminal Procedure; it required a status update on the criminal case by July 13, 2026. Patrick James, the Patrick James Trust, Albion Realty, Alester Technologies, Battery Park Holdings, Larchmont and Pegasus Aviation appealed. On May 29, 2026 Senior U.S. District Judge Lee H. Rosenthal (S.D. Tex., Civil Action H-26-3646) denied leave to appeal and dismissed the appeal for lack of jurisdiction, holding that the stay, tied to a criminal trial set for February 2027, was not a final order.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-068", "src-069" ], "entity_ids": [ "patrick-james", "edward-james", "pj-trust", "albion-realty", "alester", "battery-park", "larchmont", "pegasus-aviation", "fbg" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-suit-jefferies-subpoena", "kind": "fact", "text": "In the adversary proceeding Patrick James and the other defendants served a document subpoena on Jefferies Financial Group Inc. on December 2, 2025, and identical subpoenas on its affiliates Leucadia Asset Management, LLC, Point Bonita Capital, LAM Trade Finance Group LLC, LAM Trade Finance Group I SPV LLC and LAM Trade Finance Group II LLC. On January 7, 2026 they opened a miscellaneous case in the Southern District of New York (No. 1:26-mc-00007) to compel Jefferies to comply; on January 9, 2026 Judge Edgardo Ramos approved the parties' stipulation transferring the matter to the bankruptcy court in Texas under Rule 45(f).", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-049", "src-078" ], "entity_ids": [ "patrick-james", "jefferies-fg", "leucadia", "point-bonita", "lam-tfg", "lam-tfg-i", "lam-tfg-ii", "pj-trust", "albion-realty", "alester", "battery-park", "bond-street", "ignite", "larchmont", "pegasus-aviation" ] }, { "id": "c-suit-examiner-transfers", "kind": "attributed", "text": "The court-appointed examiner, E. Martin De Luca, filed a redacted interim report on April 27, 2026 after the examiner's court-approved $7 million budget was exhausted. As reported, it describes First Brands as operated as \"a liquidity generating and value extracting enterprise\" rather than a profit-seeking business, identifies more than $700 million of transactions from First Brands to Patrick James or entities James controlled, including $720 million in 36 transfers from 2021 to 2025, some routed through other companies in a way the examiner says obscured their source and destination, and says some acquisitions from 2011 to 2024 appear to lack a valid business rationale.", "qualification": "Preliminary findings of an interim report; the examiner said the investigation was paused when the budget ran out while significant work remained.", "response": "Patrick James filed a response the same day calling the report one-sided, saying it mostly repeated the debtors' and the government's allegations and that the examiner had cooperated inappropriately with federal prosecutors; James says the acquired companies had large operations and the acquisitions reflected sound business judgment.", "outcome": "On June 18, 2026 the court denied the examiner's request to raise the examination budget to continue the investigation; the retained records contain no later examiner report.", "source_ids": [ "src-050", "src-074" ], "entity_ids": [ "patrick-james", "fbg" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-suit-examiner-fram-uci", "kind": "attributed", "text": "Among the transactions the examiner questions: First Brands bought FRAM in 2019 for a stated $306 million, and when FRAM paid $2.3 million in 2021 to repurchase FRAM brand rights, the deal was structured so that about $9 million of additional funding was obtained and transferred directly to Patrick James. In the 2020 UCI acquisition, Illinois real estate was conveyed to Bleecker Group, owned by James, which leased it to the group companies Champion Laboratories and Airtex Products; the property was then deeded to Albion Realty, another James company, which sold part of it in 2021 with FRAM becoming tenant under a leaseback.", "qualification": "Preliminary findings of the examiner's interim report as reported in the press; not adjudicated.", "response": "Patrick James's response to the report says it does not evaluate all relevant facts and parties evenhandedly and that no final conclusions can be reached about James and the related entities on its basis.", "outcome": "", "source_ids": [ "src-050" ], "entity_ids": [ "patrick-james", "fbg", "bleecker-group", "champion-labs", "albion-realty" ], "adverse_subject_ids": [ "patrick-james", "bleecker-group", "albion-realty" ] }, { "id": "c-suit-examiner-alester", "kind": "attributed", "text": "The examiner also reports that after acquisitions First Brands transferred intellectual property to Alester Technologies, which shared staff with First Brands Group, and that Alester then licensed the IP to First Brands operating companies; internal conversations before the 2023 Cardone acquisition discussed moving IP to Alester with \"a desire to minimize the valuation attributed to that IP.\"", "qualification": "Preliminary findings of the examiner's interim report as reported in the press; not adjudicated.", "response": "Patrick James's response says the report does not evaluate all relevant facts and parties evenhandedly.", "outcome": "", "source_ids": [ "src-050" ], "entity_ids": [ "alester", "fbg", "cardone", "patrick-james" ], "adverse_subject_ids": [ "alester" ] }, { "id": "c-suit-examiner-novares", "kind": "attributed", "text": "According to the examiner, Global Technologies S.à r.l. of Luxembourg, owned by Patrick James outside the First Brands group, acquired Novares Group S.A.S. in 2025, and First Brands paid about $31 million in connection with the sale of Novares subsidiaries whose North American operations were to sit within First Brands; no transfer documentation existed and the $31.1 million was not returned. On September 17 and 19, 2025 the group's Dutch company Cequent Nederland paid Novares about $1.2 million each time as an \"advance payment\", which employees said lacked justification.", "qualification": "Preliminary findings of the examiner's interim report as reported in the press; not adjudicated.", "response": "James's response says certain Novares Americas entities were operationally treated as part of the First Brands enterprise after the acquisition, that most of the funding came from a third-party financier, and that Global Technologies worked in good faith to finalise the transfer until the debtors abruptly discontinued discussions in late October 2025.", "outcome": "", "source_ids": [ "src-050" ], "entity_ids": [ "gt-sarl", "novares", "patrick-james", "fbg" ], "adverse_subject_ids": [ "patrick-james", "gt-sarl" ] }, { "id": "c-suit-kirschner-acquisitions", "kind": "attributed", "text": "Marc S. Kirschner, an expert retained by the debtors' counsel, said in a July 2026 report that First Brands paid $1.6 billion for 10 acquisitions between 2022 and 2024, that only three were sold during the Chapter 11 cases, for $195 million against an acquisition cost of $641 million, and that in 2023 and 2024 First Brands paid $488 million for assets already owned or controlled by Patrick James, which entities controlled by James had bought for about $422 million.", "qualification": "Opinion of an expert paid by the debtors' lawyers, filed in support of the liquidating plan; the court did not assess the merits of the expert's arguments when it denied the plan.", "response": "Patrick James's response to the examiner's report says the acquisitions reflected sound business judgment.", "outcome": "", "source_ids": [ "src-085", "src-070", "src-050" ], "entity_ids": [ "patrick-james", "fbg" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-suit-kirschner-insiders", "kind": "attributed", "text": "Kirschner's report values insider claims at $1 billion within up to $25.4 billion of potential estate claims. It cites a transfer of $708 million to the Patrick James Trust, $38 million to Larchmont and more than $18 million to Battery Park Holdings, both described as Patrick James companies, $455,000 for a private chef, rent and interior design, and at least $10.6 billion of payments it says rested on fraudulent invoices; it argues that First Brands' factoring and supply-chain finance practices meet the Ponzi-scheme presumption applied in the Fifth Circuit.", "qualification": "Opinion of an expert paid by the debtors' lawyers; the court did not assess the merits of the expert's arguments.", "response": "Patrick James has denied allegations of fraud.", "outcome": "When it refused to confirm the plan on August 24, 2026, the bankruptcy court noted that the interim CEO's declaration accepted the $25 billion figure without adjustment for potential defences.", "source_ids": [ "src-085", "src-070", "src-025" ], "entity_ids": [ "patrick-james", "pj-trust", "larchmont", "battery-park", "fbg" ], "adverse_subject_ids": [ "patrick-james", "pj-trust" ] }, { "id": "c-suit-kirschner-edward", "kind": "attributed", "text": "Kirschner also alleges that Edward James had a $20.5 million interest in Helios Strategic Advisors, a broker that helped First Brands find financing for fees, and that Helios fees were partly used to funnel kickback payments to Edward James. Kirschner says that in 2023 Leucadia Asset Management's questions about receivables and its request for a call and site visit with chief financial officer Stephen Graham were met with threats from Edward James, that Edward James insisted on being the only person to communicate with the SPV lender Onset, and that Edward James invested alongside Onset in the SPV transactions.", "qualification": "Allegations in an expert report paid for by the debtors' lawyers; not adjudicated. No response from Edward James or Helios to these specific allegations was found in the retained records.", "response": "Edward James has denied wrongdoing and pleaded not guilty in the criminal case on February 4, 2026; no response to the expert's specific statements was found in the retained records.", "outcome": "", "source_ids": [ "src-085", "src-091", "src-066" ], "entity_ids": [ "edward-james", "helios", "leucadia", "stephen-graham", "onset", "fbg" ], "adverse_subject_ids": [ "edward-james", "helios" ] }, { "id": "c-suit-committee-tracing", "kind": "attributed", "text": "In a reply filed on February 3, 2026, the Official Committee of Unsecured Creditors said its forensic adviser Nardello & Co., engaged from December 1, 2025, had identified more than $130 million in assets connected to Patrick James, including assets recently moved into trusts and other asset-protection vehicles, and more than $100 million personally received by Edward James through entities Edward James controlled, Optimus Private Capital LLC and JCMC Investment Group LLC. The committee said Edward James maintained personal financial relationships with Onset Financial and other asset-based lenders to First Brands, which Edward James controlled as a company executive and insider.", "qualification": "Positions of the creditors' committee in a contested retention dispute (the Ad Hoc Group objected to the adviser's retention); not adjudicated findings.", "response": "", "outcome": "After the Chapter 7 conversion in 2026 these claims pass to the Chapter 7 trustee.", "source_ids": [ "src-052", "src-051" ], "entity_ids": [ "patrick-james", "edward-james", "optimus", "jcmc", "onset" ], "adverse_subject_ids": [ "patrick-james", "edward-james" ] }, { "id": "c-suit-committee-ponzi", "kind": "attributed", "text": "In a June 2, 2026 motion seeking authority to bring claims on behalf of the estates, the Official Committee of Unsecured Creditors described First Brands as a Ponzi scheme orchestrated by the brothers Patrick James and Edward James and other insiders, and said that \"billions of dollars of value were siphoned away from this company to management and certain co-participants.\"", "qualification": "Characterisation in a creditors' committee filing; not a court finding.", "response": "A spokesperson for Patrick James has said the narrative that blame for First Brands' collapse should fall on Patrick James is false and that Patrick James looks forward to presenting the defence case in court.", "outcome": "", "source_ids": [ "src-061", "src-082" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ], "adverse_subject_ids": [ "patrick-james", "edward-james" ] }, { "id": "c-suit-plan-claims", "kind": "attributed", "text": "The debtors' June 8, 2026 liquidating plan proposed to place the estates' claims in a litigation trust, including the adversary cases seeking to recover more than $700 million of suspect transfers to the James brothers and others from 2018 to 2025, and claims against Onset Financial, which the debtors allege worked with Edward James to take money from the company, involving more than $2 billion of alleged fraudulent transfers.", "qualification": "Claims as described by the debtors; not adjudicated.", "response": "", "outcome": "The court refused to confirm the liquidating plan on August 24, 2026 and on September 1, 2026 converted the remaining cases to Chapter 7.", "source_ids": [ "src-061", "src-025" ], "entity_ids": [ "fbg", "patrick-james", "edward-james", "onset" ], "adverse_subject_ids": [ "patrick-james", "edward-james", "onset" ] }, { "id": "c-suit-edward-onset-complaint", "kind": "attributed", "text": "On January 9, 2026 First Brands sued its former executive Edward James, brother of the founder, and its largest creditor, Onset Financial, Inc., in Houston, alleging that they conspired \"to defraud creditors out of billions of dollars and property\": Edward James would \"work against the company as Onset's secret partner\" and together they would rig \"scores of supposed 'contracts'\". The complaint says Edward James invested nearly $150 million alongside Onset hoping to extract nearly $280 million, that Onset and Edward James obtained over $2.3 billion in payments, and that First Brands had also transferred more than $600 million in cash to Onset as of September, about $2.9 billion in total.", "qualification": "Allegations in the debtors' complaint, not adjudicated; the suit was later stayed together with the claims against Patrick James.", "response": "Onset denied wrongdoing, blamed the James brothers for the collapse and called the debtors' claims a \"desperate attempt to blame a victim for doing business in good faith\".", "outcome": "By June 2026 the suit was stayed, together with the debtors' suit against Patrick James, pending resolution of the criminal charges against Patrick James.", "source_ids": [ "src-084", "src-039" ], "entity_ids": [ "fbg", "edward-james", "onset" ], "adverse_subject_ids": [ "edward-james", "onset" ] }, { "id": "c-suit-lenders-onset", "kind": "attributed", "text": "A group of First Brands creditors filed a suit on January 5, 2026 accusing Onset Financial of \"pillaging\" the company through usurious financing arrangements approved by Edward James, and alleging that in return Onset agreed to pay Edward James hundreds of millions of dollars through additional fees and a right to invest personally in the financings.", "qualification": "Allegations of a creditor group, not adjudicated.", "response": "Onset has denied wrongdoing in the related litigation, describing itself as a victim of the James brothers; after the plan was rejected in August 2026 an Onset spokesperson said the ruling showed the allegations against it \"wholly lack merit\".", "outcome": "", "source_ids": [ "src-084", "src-070" ], "entity_ids": [ "onset", "edward-james", "fbg" ], "adverse_subject_ids": [ "onset", "edward-james" ] }, { "id": "c-suit-baker", "kind": "attributed", "text": "A civil lawsuit in the First Brands bankruptcy accuses Michael Baker, the former chief corporate strategy officer, of breach of fiduciary duty, aiding and abetting breach of fiduciary duty and civil conspiracy in connection with Baker's role in helping structure the special-purpose vehicles through which First Brands obtained $2.3 billion of off-balance-sheet financing it could not repay.", "qualification": "Allegations in a pending civil suit; no criminal charge against Baker appears in the retained records.", "response": "In an April 6, 2026 filing seeking dismissal, Baker denied knowing of the alleged fraud and said that Patrick James and other insiders used Baker's reputation to build relationships with lenders, that Baker resigned on September 25, 2025 when it became clear that \"significant information was being withheld from him\", that using SPVs is not inherently improper, and that the complaint does not show Baker knew anything was wrong. A spokesperson for Patrick James said former officers were trying to \"shift responsibility\".", "outcome": "", "source_ids": [ "src-082", "src-003" ], "entity_ids": [ "michael-baker", "fbg", "patrick-james" ], "adverse_subject_ids": [ "michael-baker" ] }, { "id": "c-crim-indictment-filed", "kind": "fact", "text": "A federal grand-jury indictment in United States v. Patrick James and Edward James, 26 Cr. 29 (AT), was filed under seal in the U.S. District Court for the Southern District of New York on January 27, 2026 and unsealed on January 29, 2026, when the U.S. Attorney's Office for the Southern District of New York announced the charges. Patrick James and Edward James were arrested that morning in the Northern District of Ohio; the case was assigned to U.S. District Judge Analisa Torres.", "qualification": "Charges in a grand-jury indictment are accusations; the defendants pleaded not guilty and are presumed innocent unless proven guilty.", "response": "", "outcome": "", "source_ids": [ "src-066", "src-005" ], "entity_ids": [ "patrick-james", "edward-james" ], "adverse_subject_ids": [ "patrick-james", "edward-james" ] }, { "id": "c-crim-defendants", "kind": "fact", "text": "The indictment and the U.S. Attorney's announcement describe Patrick James as the founder and former Chief Executive Officer of First Brands Group, LLC, and Edward James, Patrick James's brother, as First Brands' former Senior Vice President.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-005", "src-008" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ] }, { "id": "c-crim-counts", "kind": "fact", "text": "The indictment charges Patrick James in nine counts: managing a continuing financial crimes enterprise (18 U.S.C. § 225, Count One); conspiracy to commit wire fraud affecting a financial institution and bank fraud (18 U.S.C. § 1349, Count Two); wire fraud affecting a financial institution (18 U.S.C. § 1343, Counts Three, Four, Six and Eight); bank fraud (18 U.S.C. § 1344, Counts Five and Seven); and conspiracy to commit money laundering (Count Nine). Edward James is charged in Counts Two through Nine. The U.S. Attorney's chart lists maximum sentences of life on Count One, 30 years on each of Counts Two through Eight and 20 years on Count Nine, and a 10-year minimum potential sentence for Patrick James.", "qualification": "Charges in a grand-jury indictment are accusations; the defendants pleaded not guilty and are presumed innocent unless proven guilty. The prosecutors state that maximum sentences are given for information only and that any sentence would be determined by a judge.", "response": "", "outcome": "", "source_ids": [ "src-005", "src-066" ], "entity_ids": [ "patrick-james", "edward-james" ], "adverse_subject_ids": [ "patrick-james", "edward-james" ] }, { "id": "c-crim-allegations", "kind": "attributed", "text": "The indictment alleges that from at least 2018 through 2025 Patrick James and Edward James built and bankrupted First Brands through schemes in which the company faked and inflated invoices for accounts receivable and payable, double- and triple-pledged loan collateral, falsified financial statements and concealed substantial liabilities from lenders, yielding billions of dollars of financing for First Brands and millions of dollars in proceeds for the two men. It states that at its September 2025 bankruptcy First Brands, which reported about $5 billion in annual net sales, declared $12 million in cash and over $9 billion in liabilities, leaving lenders and creditors facing billions in losses.", "qualification": "Allegations in a grand-jury indictment, as stated in the indictment and the U.S. Attorney's release; not proven. Charges in a grand-jury indictment are accusations; the defendants pleaded not guilty and are presumed innocent unless proven guilty.", "response": "On January 29, 2026 a spokesperson for Patrick James said that Patrick James is presumed innocent, denies the charges, built First Brands from nothing into a global industry leader and looks forward to presenting the case in court; a lawyer for Edward James said that Edward James had acted with integrity over decades of work and that counsel had complete confidence in Edward James.", "outcome": "Both defendants pleaded not guilty on February 4, 2026; trial is set for February 9, 2027.", "source_ids": [ "src-005", "src-066", "src-081" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ], "adverse_subject_ids": [ "patrick-james", "edward-james" ] }, { "id": "c-crim-owner-proceeds", "kind": "attributed", "text": "The indictment alleges that even as the frauds unraveled Patrick James, in the indictment's words, \"continued to enrich himself as the owner of First Brands\": through the frauds Patrick James directed, billions of dollars in gross proceeds flowed into First Brands from counterparties and Patrick James received at least hundreds of millions of dollars in gross proceeds into personal accounts. It also alleges that Patrick James personally siphoned millions of dollars of off-balance-sheet lenders' funds into personal accounts before the money reached First Brands.", "qualification": "Allegations in the indictment; not proven. Patrick James pleaded not guilty and is presumed innocent.", "response": "Patrick James pleaded not guilty to all nine counts on February 4, 2026; a spokesperson said Patrick James denies the charges.", "outcome": "", "source_ids": [ "src-005", "src-066", "src-008", "src-081" ], "entity_ids": [ "patrick-james", "fbg" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-crim-auditors", "kind": "attributed", "text": "The indictment alleges that Patrick James misled First Brands' outside auditors by repeatedly certifying that the company had no related-party arrangements, despite knowing that First Brands had purportedly sold billions of dollars of inventory to entities wholly owned and controlled by Patrick James (the \"James Entities\") and that those entities had incurred billions of dollars of liabilities using First Brands' inventory as collateral.", "qualification": "Allegation in the indictment; not proven. Patrick James pleaded not guilty and is presumed innocent.", "response": "Patrick James pleaded not guilty to all nine counts on February 4, 2026.", "outcome": "", "source_ids": [ "src-008", "src-066" ], "entity_ids": [ "patrick-james", "fbg" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-crim-edward-role", "kind": "attributed", "text": "According to the indictment, the inventory-financing arrangements with off-balance-sheet lenders were directed by Patrick James and negotiated by Edward James, and Edward James, while executing the financing agreements on behalf of the James Entities, received millions of dollars in commission fees for brokering one of the purported inventory financings.", "qualification": "Allegations in the indictment; not proven. Both defendants pleaded not guilty and are presumed innocent.", "response": "Edward James pleaded not guilty to Counts Two through Nine on February 4, 2026; Edward James's lawyer expressed complete confidence in the client.", "outcome": "", "source_ids": [ "src-008", "src-066", "src-081" ], "entity_ids": [ "edward-james", "patrick-james" ], "adverse_subject_ids": [ "edward-james", "patrick-james" ] }, { "id": "c-crim-money-laundering", "kind": "attributed", "text": "Count Nine alleges that from at least 2022 through 2025 Patrick James and Edward James conspired to commit money laundering by disguising the proceeds of fraudulent representations to First Brands' off-balance-sheet lenders, including through transactions designed to conceal the nature, location, source, ownership and control of those proceeds (18 U.S.C. § 1956(h)). The indictment seeks forfeiture from both defendants of property derived from Counts One through Eight and of property involved in Count Nine, and of substitute assets if that property cannot be located.", "qualification": "Allegations and forfeiture demands in the indictment; forfeiture would require a conviction. Both defendants pleaded not guilty and are presumed innocent.", "response": "", "outcome": "", "source_ids": [ "src-008", "src-066" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ], "adverse_subject_ids": [ "patrick-james", "edward-james" ] }, { "id": "c-crim-pleas", "kind": "fact", "text": "At the arraignments on February 4, 2026 before Magistrate Judge Robyn F. Tarnofsky in Manhattan, Patrick James pleaded not guilty to all nine counts and Edward James pleaded not guilty to Counts Two through Nine. Patrick James's lawyer said that it was \"very much Mr. James' intent to go into court and proclaim his innocence.\"", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-066", "src-095" ], "entity_ids": [ "patrick-james", "edward-james" ], "adverse_subject_ids": [ "patrick-james", "edward-james" ] }, { "id": "c-crim-prosecution-statements", "kind": "attributed", "text": "Announcing the charges, U.S. Attorney Jay Clayton said that the James brothers \"obtained billions for First Brands—and millions for themselves—by presenting their lenders with the impression of a successful, growing international business.\" At the February 4, 2026 arraignment, Assistant U.S. Attorney Nicholas Chiuchiolo said the defendants caused more than $10 billion of losses, including for \"some of the most sophisticated financial institutions in the world,\" while collecting tens of millions of dollars for themselves; prosecutors said the alleged fraud lasted from 2018 to 2025.", "qualification": "Statements of the prosecution about its case; allegations, not findings. Charges in a grand-jury indictment are accusations; the defendants pleaded not guilty and are presumed innocent unless proven guilty.", "response": "Both defendants pleaded not guilty at the arraignment.", "outcome": "", "source_ids": [ "src-095", "src-066", "src-005" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ], "adverse_subject_ids": [ "patrick-james", "edward-james" ] }, { "id": "c-crim-bail-patrick", "kind": "fact", "text": "On February 4, 2026 Patrick James was released on a $50,000,000 personal recognizance bond to be co-signed by two financially responsible persons and secured by $5,000,000 in cash deposited with the court and by a residence. Conditions included home detention with location monitoring, travel limited to the Southern and Eastern Districts of New York and the Northern District of Ohio, surrender of travel documents, no new financial accounts, no contact with identified witnesses or victims outside counsel's presence and no private air travel.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-066" ], "entity_ids": [ "patrick-james" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-crim-bail-edward", "kind": "fact", "text": "On February 4, 2026 Edward James was released on a $25,000,000 personal recognizance bond secured by $1,000,000 deposited with the court and by a residence, with home detention and location monitoring, travel limited to the Southern and Eastern Districts of New York and the Northern District of Ohio, no new financial accounts, no contact with identified witnesses or victims outside counsel's presence and no private air travel.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-066" ], "entity_ids": [ "edward-james" ], "adverse_subject_ids": [ "edward-james" ] }, { "id": "c-crim-release-modified", "kind": "fact", "text": "Judge Torres eased both defendants' release conditions in June 2026. On June 17, 2026 the court granted Patrick James's June 8 bond-modification request, which a press report describes as replacing home detention with a curfew; on June 23, 2026 it granted Edward James's request to replace home confinement with a curfew, with travel limited to the Southern and Eastern Districts of New York and the Northern and Southern Districts of Ohio and enhanced telephonic location monitoring. Edward James's counsel wrote that the government and Pretrial Services did not object to a curfew.", "qualification": "The docket entry granting Patrick James's request does not state the new terms; the curfew description for Patrick James comes from a press report.", "response": "", "outcome": "", "source_ids": [ "src-066", "src-065" ], "entity_ids": [ "patrick-james", "edward-james" ], "adverse_subject_ids": [ "patrick-james", "edward-james" ] }, { "id": "c-crim-trial-schedule", "kind": "fact", "text": "At the initial conference on February 4, 2026 Judge Torres set trial for July 13, 2026. After both defendants sought adjournments, Patrick James asking for a 2027 trial date and Edward James for one in the fall of 2026, the court on May 8, 2026 set the jury trial for February 9, 2027, and on June 22, 2026 excluded time under the Speedy Trial Act through that date. On September 3, 2026 it scheduled a final pretrial conference for February 1, 2027; on September 30, 2026 it adjourned the October 5 status conference without a new date, stating that it would rule on the pending motions in due course. The last docket entry in the retained record is dated October 14, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-066", "src-067" ], "entity_ids": [ "patrick-james", "edward-james" ], "adverse_subject_ids": [ "patrick-james", "edward-james" ] }, { "id": "c-crim-pretrial-motions", "kind": "fact", "text": "On September 4, 2026 the defendants filed pretrial motions. Patrick James moved to sever the trials, to compel production of Rule 16 discovery and Brady/Giglio material held by First Brands Group, LLC and by other government entities, to compel disclosure of Brady material held by the government, and to quash a government trial subpoena; Edward James moved to dismiss the indictment, to sever the trial of Edward James, to suppress evidence obtained through search warrants and to preclude untimely disclosed evidence. Both had earlier moved for bills of particulars.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-067" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ], "adverse_subject_ids": [ "patrick-james", "edward-james" ] }, { "id": "c-crim-subpoenas", "kind": "fact", "text": "Patrick James moved in March 2026 to quash a post-indictment grand-jury subpoena dated February 25, 2026 issued to Cooperative Title Agency of Florida; on May 5, 2026 the court denied the motion, lifted its stay and set a May 14, 2026 return date. In September 2026 Patrick James moved to quash two government trial subpoenas served on third parties, TriState Capital Bank and one other recipient; in orders of September 3 and 4, 2026 the court stayed compliance pending its ruling.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-066", "src-067" ], "entity_ids": [ "patrick-james", "tristate-capital" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-crim-brumbergs-plea", "kind": "fact", "text": "Peter Andrew Brumbergs, described by First Brands as its former Vice President of Finance, pleaded guilty pursuant to an information before Judge Analisa Torres in United States v. Peter Andrew Brumbergs, 26 Cr. 25 (AT) (S.D.N.Y.); the U.S. Attorney's Office gives the plea date as January 26, 2026, unsealed the plea on January 29, 2026 and said that Brumbergs is cooperating with the government. The office's chart lists eight counts, among them conspiracy to commit wire fraud affecting a financial institution and bank fraud, wire fraud affecting a financial institution, bank fraud and conspiracy to commit money laundering, with a maximum sentence of 30 years on each of seven counts.", "qualification": "A guilty plea is Brumbergs's own admission in that case; it is not a finding against any other person.", "response": "", "outcome": "One press report said sentencing was set for June 22, 2026; the retained docket extract ends in February 2026 and contains no sentencing record.", "source_ids": [ "src-005", "src-077", "src-012", "src-011", "src-088" ], "entity_ids": [ "peter-brumbergs", "fbg" ], "adverse_subject_ids": [ "peter-brumbergs" ] }, { "id": "c-crim-brumbergs-date", "kind": "unresolved", "text": "Records give different dates for Brumbergs's guilty plea. The U.S. Attorney's Office states January 26, 2026; the court docket shows the sealed eight-count information filed on January 27, 2026; one press report citing the plea transcript dates the plea January 27, and another dates it January 29, the day the plea was unsealed.", "qualification": "The U.S. Attorney's release is the official account of the plea date; the other dates may reflect filing, docketing or unsealing. The plea itself is not in dispute.", "response": "", "outcome": "", "source_ids": [ "src-005", "src-077", "src-012", "src-011" ], "entity_ids": [ "peter-brumbergs" ], "adverse_subject_ids": [ "peter-brumbergs" ] }, { "id": "c-crim-brumbergs-statements", "kind": "attributed", "text": "At the plea hearing, according to the transcript unsealed on February 25, 2026, Brumbergs said that between 2018 and 2025 Brumbergs had joined others to provide misleading financial statements: \"We worked to submit quarterly financial statements that included accounting adjustments that misstated First Brands' financial condition and results.\" Brumbergs said company balance sheets falsified the nature and existence of inventory and equipment already pledged or sold as collateral to other lenders, that First Brands did not disclose to some lenders that collateral had been pledged to others, and that Brumbergs took \"complete responsibility\" for the crimes. Brumbergs did not name any co-conspirators.", "qualification": "Brumbergs's own statements at the plea hearing, as reported from the transcript; they are evidence the prosecution may use, not findings against any other person.", "response": "Patrick James and Edward James have pleaded not guilty and deny wrongdoing.", "outcome": "", "source_ids": [ "src-012" ], "entity_ids": [ "peter-brumbergs", "fbg" ], "adverse_subject_ids": [ "peter-brumbergs" ] }, { "id": "c-crim-graham-plea", "kind": "attributed", "text": "Press accounts of court records state that Stephen Graham, First Brands' former Chief Financial Officer, pleaded guilty on March 2, 2026 before Judge Analisa Torres in the Southern District of New York to four counts: conspiracy to commit wire fraud affecting a financial institution and bank fraud, two counts of wire fraud affecting a financial institution and one count of bank fraud. As reported, the charges allege that Graham and others agreed to make false statements to First Brands' lenders and financiers about its financial condition and about the existence and value of collateral pledged or sold to them; Graham is cooperating with prosecutors.", "qualification": "Based on press accounts; Graham's charging document and docket are not in the retained record, and one account describes the conspiracy count only as conspiracy to commit wire fraud. A guilty plea is Graham's own admission and is not a finding against any other person.", "response": "", "outcome": "One report said sentencing was set for August 3, 2026 and that Graham was released on Graham's own signature and must forfeit property bought with proceeds of the scheme; the retained record contains no later sentencing information.", "source_ids": [ "src-011", "src-083" ], "entity_ids": [ "stephen-graham", "fbg" ], "adverse_subject_ids": [ "stephen-graham" ] }, { "id": "c-crim-graham-statements", "kind": "attributed", "text": "In court, according to a press account, Graham acknowledged that First Brands issued financial statements to banks containing \"false and misleading information\" and said: \"I also participated in lender presentations where I presented the false and inflated financial statements to First Brands' lenders to obtain financing for First Brands on better terms than the banks would otherwise offer... I knew this was wrong.\"", "qualification": "Graham's statements at the plea hearing as reported in the press; not findings against any other person.", "response": "Patrick James and Edward James have pleaded not guilty and deny wrongdoing.", "outcome": "", "source_ids": [ "src-083", "src-012" ], "entity_ids": [ "stephen-graham", "fbg" ], "adverse_subject_ids": [ "stephen-graham" ] }, { "id": "c-fdr-earlier-ventures", "kind": "attributed", "text": "Press profiles published after the 2025 collapse report that in the 1990s and 2000s Patrick James, with various business partners, bought Ohio auto-parts and metalworking plants through holding vehicles such as Viking Industries and Hawthorn Manufacturing, that James's companies sometimes did business with one another, and that James drew management fees from several ventures, which later lawsuits called \"lucrative\" and \"substantial\".", "qualification": "Press accounts; the underlying corporate records of these earlier ventures were not retained.", "response": "", "outcome": "", "source_ids": [ "src-007", "src-086" ], "entity_ids": [ "patrick-james", "hawthorn" ] }, { "id": "c-fdr-creditor-disputes", "kind": "attributed", "text": "A press profile of October 2025 reports that well over a decade before First Brands collapsed, Patrick James was battling creditors in court over millions of dollars of defaulted debts and fending off allegations of fraud, and that James settled those cases before turning to consolidating the auto-parts sector with new borrowing.", "qualification": "Press account summarising earlier litigation; the individual cases are set out in the claims that follow.", "response": "James's spokesperson linked these \"complex disputes\" to the aftermath of the financial crisis, said \"any allegations of improper dealings by Mr James were categorically false\", and said James had been \"deeply diligenced without any issue hundreds of times by hundreds of counterparties\".", "outcome": "", "source_ids": [ "src-086" ], "entity_ids": [ "patrick-james" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-fdr-worthington", "kind": "attributed", "text": "According to press accounts, Worthington Steel claimed that in 2005 Patrick James personally guaranteed about $1.2 million in exchange for forbearance on an alleged loan default and, after a further alleged default, accused James of fraud, including instructing employees to destroy books and records to hide mismanagement.", "qualification": "Allegations in a civil dispute reported by the press; no court finding on them is in the retained records.", "response": "James denied the allegations, said James had been \"fraudulently induced\" into signing the guarantee and filed a counterclaim; James's spokesperson called the suggestion that James ordered the destruction of evidence \"particularly egregious\" and \"patently absurd\".", "outcome": "The case was dismissed after the parties settled.", "source_ids": [ "src-007", "src-086" ], "entity_ids": [ "patrick-james" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-fdr-tristate", "kind": "attributed", "text": "The First Brands debtors' November 2025 complaint recounts that on June 26, 2009 TriState Capital Bank sued Patrick James and companies under James's control in the Northern District of Ohio (TriState Capital Bank v. Red Rock Stamping LLC et al., No. 09-cv-01455), alleging that they repeatedly misled the bank about the nature and value of collateral, overstated eligible receivables, transferred collateral inventory to a related entity without consideration and diverted management and consulting fees despite restrictions.", "qualification": "Allegations of the 2009 plaintiff as summarised in the debtors' complaint; the 2009 pleadings themselves were not retained.", "response": "James's spokesperson has said that allegations of improper dealings in James's earlier disputes were \"categorically false\".", "outcome": "According to the debtors' complaint, the case settled and James agreed to pay $1 million.", "source_ids": [ "src-003", "src-086" ], "entity_ids": [ "patrick-james", "tristate-capital", "red-rock-stamping" ], "adverse_subject_ids": [ "patrick-james", "red-rock-stamping" ] }, { "id": "c-fdr-fortress", "kind": "attributed", "text": "In Fortress Value Recovery Fund I, LLC v. Columbus Components Group LLC et al. (N.D. Ohio, No. 1:11-cv-00200), the plaintiff sought to recover a $6 million loan made to Columbus Components Group under a 2004 Amended Note Purchase Agreement with Brantley Mezzanine Finance, guaranteed by CCG Holdings and PJ Management Group. It alleged that Patrick James was the sole or controlling owner and chairman of Columbus Components, CCG Holdings, PJ Management and Hawthorn Manufacturing Corporation, that the companies shared employees and an address in Solon, Ohio, and that James used this web of companies to move funds from Columbus Components to management companies to defraud its creditors, and it asked the court to pierce the corporate veil.", "qualification": "The plaintiff's allegations as described by the court; the court ruled only that they were sufficient to proceed, noting that veil piercing is rarely permitted.", "response": "The defendants moved to dismiss, arguing that the plaintiff had not shown its right to sue on the loans; Hawthorn Manufacturing and Patrick James also argued that the complaint did not plead sufficient facts to support an alter-ego theory of liability.", "outcome": "On March 28, 2011 U.S. District Judge James S. Gwin denied the motions to dismiss of Hawthorn Manufacturing, Patrick James, Columbus Components, CCG Holdings and PJ Management. According to the debtors' 2025 complaint, James's company later settled the suit for $6 million.", "source_ids": [ "src-075", "src-003" ], "entity_ids": [ "patrick-james", "columbus-components", "ccg-holdings", "pj-management", "hawthorn" ], "adverse_subject_ids": [ "patrick-james", "columbus-components", "ccg-holdings", "pj-management", "hawthorn" ] }, { "id": "c-fdr-variform", "kind": "attributed", "text": "The debtors' complaint also cites a 2018 suit filed by a number of plaintiffs in a Michigan circuit court (No. 18-012988-CB, October 4, 2018) against Vari-Form Group, L.L.C. and others, which it describes as a similar lawsuit against Patrick James. According to the complaint, which cites securities filings and a person familiar with the matter, Patrick James allegedly promoted a segment of Vari-Form, which the complaint describes as James's conglomerate, as an independent asset and secured new debt financing from investors, and Vari-Form filed for insolvency in Canada the following year.", "qualification": "Allegation as summarised in the debtors' complaint; the 2018 pleadings were not retained and no outcome of the suit is stated.", "response": "", "outcome": "", "source_ids": [ "src-003" ], "entity_ids": [ "patrick-james", "vari-form" ], "adverse_subject_ids": [ "patrick-james" ] }, { "id": "c-fdr-sandor-foundation", "kind": "fact", "text": "The Sandor Foundation of Chagrin Falls, Ohio (EIN 20-3907906) is a private foundation recognised as a 501(c)(3) organisation, with tax exemption issued in July 2006. Its Form 990-PF returns through fiscal year 2022 (filed March 12, 2023) list Patrick James and Edward James among its unpaid trustees; its return for 2024 lists Michael Baker as an unpaid trustee and reports revenue of $2,010,721, almost all contributions ($2,010,500), charitable disbursements of $1,994,060 and net assets of $52,132.", "qualification": "Return data as published in a nonprofit database; the 2024 return does not itself identify Michael Baker further.", "response": "", "outcome": "", "source_ids": [ "src-022" ], "entity_ids": [ "sandor-foundation", "patrick-james", "edward-james", "michael-baker" ] }, { "id": "c-fdr-baker-sandor", "kind": "attributed", "text": "A press profile reports that Michael Baker, a former Paul Hastings partner who became First Brands' chief corporate strategy officer in 2021, also became a trustee of the Sandor Foundation, a non-profit the profile says Patrick James and the James family established in 2005.", "qualification": "Press account; it identifies the foundation trustee named in the foundation's latest return as the First Brands executive.", "response": "", "outcome": "", "source_ids": [ "src-086" ], "entity_ids": [ "michael-baker", "sandor-foundation", "patrick-james", "paul-hastings", "fbg" ] }, { "id": "c-fdr-edward-lenders", "kind": "attributed", "text": "A press profile of October 2025 reports that invoice lenders typically dealt with Edward James, who became the point man for what First Brands called \"working capital solutions\", and quotes an asset-backed lending specialist as saying that when the specialist's team asked to check a stock list against inventory on site, Edward James replied: \"We don't let lenders into the warehouse.\"", "qualification": "Account of an unnamed lender reported by the press; the publication said Edward James could not be reached for comment.", "response": "", "outcome": "", "source_ids": [ "src-086" ], "entity_ids": [ "edward-james", "fbg" ], "adverse_subject_ids": [ "edward-james" ] }, { "id": "c-fdr-novares-notification", "kind": "fact", "text": "In a merger notification published by the European Commission (case M. 11892, received on February 12, 2025), Global Technologies S.à r.l., a 100% subsidiary of Global Technologies Partners, LLC, sought sole control of Novares Group SAS by share purchase from owners including Equistone V FPCI (76.84%) and Fonds d'Avenir Automobile (14.36%). The notifying parties stated that Global Technologies Partners, LLC is ultimately owned by Patrick James, who is also the ultimate owner of First Brands Group, LLC.", "qualification": "Ownership as declared by the notifying parties to the regulator before the bankruptcy.", "response": "", "outcome": "", "source_ids": [ "src-093" ], "entity_ids": [ "gt-sarl", "gt-partners", "novares", "patrick-james", "fbg" ] }, { "id": "c-lead-boards-2025", "kind": "fact", "text": "The first-day declaration of the Chief Restructuring Officer, filed in the Chapter 11 case on September 29, 2025, states that First Brands has boards of managers at each of four parent entities: First Brands Group Holdings, LLC, First Brands Group Intermediate, LLC, First Brands Group, LLC and Viceroy Private Capital, LLC. Each board consisted of Patrick James, Stephen Graham and Shekhar Kumar as managers and Neal Goldman and William Transier as independent managers.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbgh", "fbgi", "fbg", "viceroy", "patrick-james", "stephen-graham", "shekhar-kumar", "neal-goldman", "william-transier" ] }, { "id": "c-lead-special-committee", "kind": "fact", "text": "According to the omnibus written consent filed with the Chapter 11 petition, on September 17, 2025 the boards of managers of First Brands Group Holdings, LLC, First Brands Group Intermediate, LLC, First Brands Group, LLC and Viceroy Private Capital, LLC appointed Neal Goldman and William Transier as independent managers and established a special committee made up of them; on September 24, 2025 the boards widened the committee's authority to consider, evaluate, negotiate and approve a potential transaction. The first-day declaration describes the committee's exclusive authority over potential transactions and over an investigation of claims the debtors may hold, including against current and former managers, equity holders, officers and other insiders, covering the company's prepetition factoring and other off-balance-sheet financing; it states that the investigation began before the petition date with the company's counsel and financial adviser.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-002" ], "entity_ids": [ "fbgh", "fbgi", "fbg", "viceroy", "neal-goldman", "william-transier" ] }, { "id": "c-lead-filing-consent", "kind": "fact", "text": "The omnibus written consent approving the Chapter 11 filings, filed with the petition of First Brands Group, LLC on September 28, 2025, was executed by all members of the boards of managers of First Brands Group Holdings, LLC, First Brands Group Intermediate, LLC, First Brands Group, LLC and Viceroy Private Capital, LLC: Patrick James, Shekhar Kumar, Stephen Graham, Neal Goldman and William Transier.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002" ], "entity_ids": [ "fbgh", "fbgi", "fbg", "viceroy", "patrick-james", "shekhar-kumar", "stephen-graham", "neal-goldman", "william-transier" ] }, { "id": "c-lead-cro", "kind": "fact", "text": "Charles M. Moore, a managing director of Alvarez & Marsal North America, LLC, was appointed chief restructuring officer of First Brands Group, LLC and its affiliated debtors in September 2025, before the petition date, according to Moore's first-day declaration. The omnibus consent filed with the petition recites resolutions of the boards of the four parent entities, First Brands Group Holdings, LLC, First Brands Group Intermediate, LLC, First Brands Group, LLC and Viceroy Private Capital, LLC, dated September 24, 2025 and, separately, September 26, 2025, appointing Moore as chief restructuring officer of each parent entity.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-002" ], "entity_ids": [ "charles-moore", "alvarez-marsal", "fbg", "fbgh", "fbgi", "viceroy" ] }, { "id": "c-lead-officers-petition", "kind": "fact", "text": "At the petition date the first-day declaration listed the company's executive officers as Patrick James, chief executive officer; Stephen Graham, chief financial officer; and Shekhar Kumar, senior vice president for mergers and acquisitions.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg", "patrick-james", "stephen-graham", "shekhar-kumar" ] }, { "id": "c-lead-james-signatory", "kind": "fact", "text": "In the omnibus consents filed with the Chapter 11 petition, Patrick James signed for First Brands Group, LLC as its President and Chief Executive Officer, including in its capacity as the member of FRAMAuto Holdings, LLC that executed that subsidiary's consent to the filing.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002" ], "entity_ids": [ "patrick-james", "fbg", "framauto" ] }, { "id": "c-lead-officers-2023", "kind": "fact", "text": "Schedule I to the January 9, 2023 Offer to Purchase for Horizon Global shares, filed with the SEC, describes First Brands Group, LLC's leadership: Patrick James had been a director and its chairman and chief executive officer for more than five years; Michael Baker became a director and chief corporate strategy officer in August 2021; Ed James had been executive vice president for more than five years after earlier roles in finance, accounting and working capital solutions with the company and its predecessor; Stephen Graham had been chief financial officer since April 2014, after more than 20 years as chief financial officer of other companies including Dura Automotive, Shiloh Industries, Truck Components and Associated Materials; and Shekhar Kumar became corporate finance manager in August 2021.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-031", "src-013" ], "entity_ids": [ "fbg", "patrick-james", "michael-baker", "edward-james", "stephen-graham", "shekhar-kumar" ] }, { "id": "c-lead-paul-hastings", "kind": "fact", "text": "According to the same SEC-filed Schedule I, Michael Baker and Shekhar Kumar were both partners at the law firm Paul Hastings LLP before joining First Brands Group, LLC in August 2021, and in each case their work there included serving as outside finance counsel to First Brands Group, LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-013" ], "entity_ids": [ "michael-baker", "shekhar-kumar", "paul-hastings", "fbg" ] }, { "id": "c-lead-phx-officers", "kind": "fact", "text": "PHX Merger Sub, Inc., a wholly owned subsidiary of First Brands Group, LLC and the purchaser under the Offer to Purchase, had the following officers and directors appointed in December 2022 according to Schedule I of the Offer to Purchase: Patrick James as controlling person, director, president and chief executive officer; Michael Baker as director, chief corporate strategy officer and secretary; Ed James as executive vice president; Stephen Graham as chief financial officer and treasurer; and Shekhar Kumar as corporate finance manager.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-013" ], "entity_ids": [ "phx-merger-sub", "patrick-james", "michael-baker", "edward-james", "stephen-graham", "shekhar-kumar", "fbg" ] }, { "id": "c-lead-horizon-board", "kind": "fact", "text": "Horizon Global Corporation's Form 8-K reporting events of February 8, 2023 states that, effective at the effective time of its merger, Patrick James and Michael Baker became members of Horizon Global's board of directors, Patrick James became chief executive officer and president, and Stephen Graham became chief financial officer.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-031" ], "entity_ids": [ "horizon-global", "patrick-james", "michael-baker", "stephen-graham" ] }, { "id": "c-lead-departures-sept", "kind": "fact", "text": "The debtors' complaint of November 3, 2025 states that on September 25, 2025 Michael Baker, the former chief corporate strategy officer and a board member, and Ed James, Patrick James's brother and former executive vice president and a board member, each resigned from all positions held as an officer, director, manager or board member at all First Brands entities.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003" ], "entity_ids": [ "michael-baker", "edward-james", "patrick-james", "fbg" ] }, { "id": "c-lead-departures-oct", "kind": "fact", "text": "According to the same complaint, on October 30, 2025 Stephen Graham, the former chief financial officer and a board member, retired from all positions at all First Brands entities, and Andy (Peter Andrew) Brumbergs, the former vice president, finance and a board member, was terminated from all positions; both had stopped working as of September 22, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003" ], "entity_ids": [ "stephen-graham", "peter-brumbergs", "fbg" ] }, { "id": "c-lead-james-resignation", "kind": "fact", "text": "Patrick James, the founder, chief executive officer since the company's founding in 2013 and controlling shareholder, resigned on October 12, 2025 from all positions held as an officer, director, manager or board member at all First Brands entities, according to the debtors' complaint, which elsewhere gives October 13, 2025 as the end of James's tenure as chief executive. First Brands announced at 8:00 a.m. Eastern time on October 13, 2025 that Charles Moore had been appointed interim chief executive officer and that James was resigning as chief executive officer effective immediately.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-088" ], "entity_ids": [ "patrick-james", "charles-moore", "fbg" ] }, { "id": "c-lead-moore-interim", "kind": "fact", "text": "The debtors' complaint states that on October 13, 2025, after James's resignation, Charles Moore, a managing director at Alvarez & Marsal North America, LLC who had been chief restructuring officer since September 2025, was appointed interim chief executive officer of the debtors; that Daniel Jerneycic and Gaurav Malhotra were appointed co-chief restructuring officers on October 24, 2025; and that Paul Kosturos was appointed chief financial officer on October 30, 2025, effective November 3, 2025. The company's announcement of Moore's appointment said there were no other changes to its executive leadership team at that time.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-088" ], "entity_ids": [ "charles-moore", "alvarez-marsal", "daniel-jerneycic", "gaurav-malhotra", "paul-kosturos", "fbg" ] }, { "id": "c-lead-am-moore-kosturos", "kind": "fact", "text": "Alvarez & Marsal's own profiles describe Charles Moore as a managing director in its restructuring and turnaround practice in Detroit who previously was a senior managing director at Conway MacKenzie, Inc. and chief financial officer of the automotive supplier Horizon Technology Group, and Paul Kosturos as a managing director in its private equity services operations group in Charlotte who specializes in interim chief financial officer assignments and joined the firm in 2009.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-019", "src-018" ], "entity_ids": [ "charles-moore", "paul-kosturos", "alvarez-marsal" ] }, { "id": "c-lead-am-co-cros", "kind": "fact", "text": "Alvarez & Marsal's profiles describe Daniel Jerneycic as a managing director in its restructuring and turnaround practice in Detroit with extensive automotive-industry experience, previously a partner in EY-Parthenon's turnaround and restructuring practice, and Gaurav Malhotra as a managing director in the same practice in Chicago who serves on the practice's executive committee and previously led Ernst & Young's U.S. restructuring practice.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-020", "src-021" ], "entity_ids": [ "daniel-jerneycic", "gaurav-malhotra", "alvarez-marsal" ] }, { "id": "c-lead-kumar-remains", "kind": "fact", "text": "Shekhar Kumar remained with the company after the bankruptcy filing: the WARN notice of First Brands Group, LLC dated December 29, 2025 on the closure of the Eagle Machining plant in Fayette, Ohio, sent to the Ohio Department of Job and Family Services, was signed by Shekhar Kumar as senior vice president, M&A, of First Brands Group, LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-089" ], "entity_ids": [ "shekhar-kumar", "fbg", "eagle-machining" ] }, { "id": "c-lead-edward-title", "kind": "unresolved", "text": "Records differ on Edward (Ed) James's last title at First Brands. The company's SEC-filed 2023 Offer to Purchase and the debtors' November 2025 complaint describe Edward James as executive vice president, while the U.S. Attorney's Office description of the indictment and First Brands' own statement on the indictment call Edward James former senior vice president.", "qualification": "The records do not explain the difference; both titles are shown as recorded.", "response": "", "outcome": "", "source_ids": [ "src-088", "src-005", "src-013", "src-003", "src-031" ], "entity_ids": [ "edward-james", "fbg" ] }, { "id": "c-lead-transier-identity", "kind": "fact", "text": "An SEC filing describes William Transier as chief executive officer of Transier Advisors, LLC, an independent advisory firm serving companies in stressed operational situations, turnarounds, restructurings or in need of interim executive leadership; Helix Energy Solutions Group's board page, where Transier is chairman, gives the same principal occupation.", "qualification": "These records predate or do not mention First Brands; they are linked to the First Brands independent manager by name and professional profile only.", "response": "", "outcome": "", "source_ids": [ "src-014", "src-041" ], "entity_ids": [ "william-transier" ] }, { "id": "c-lead-goldman-identity", "kind": "fact", "text": "Neal Goldman is described in an SEC filing as managing member of SAGE Capital Investments, LLC, a consulting firm specializing in independent board of director services, strategic planning and transformations, and on a company board page as chief executive officer and managing member of SAGE Capital Investments since 2016 and a former managing director of Och Ziff Capital Management and founding partner of Brigade Capital Management.", "qualification": "These records do not mention First Brands; they are linked to the First Brands independent manager by name and professional profile only.", "response": "", "outcome": "", "source_ids": [ "src-015", "src-042" ], "entity_ids": [ "neal-goldman" ] }, { "id": "c-lead-duster-committee", "kind": "attributed", "text": "The amended joint liquidating plan filed on June 5, 2026, as summarized in a press report, named Benjamin Duster together with William Transier as members of the special committee, and Neal Goldman and Duster in their capacities as independent managers, among the parties covered by the plan's release and exculpation provisions.", "qualification": "Press summary of the plan; the retained record does not give the date or document of Duster's appointment. The plan itself was not confirmed (see the Chapter 11 record).", "response": "", "outcome": "", "source_ids": [ "src-039" ], "entity_ids": [ "benjamin-duster", "william-transier", "neal-goldman", "fbg" ] }, { "id": "c-lead-duster-identity", "kind": "fact", "text": "An SEC filing describes Benjamin Duster as chief executive officer of Cormorant IV Corporation LLC and Mobile Technologies Inc., with more than 45 years of experience and past or present board seats at Expand Energy, Weatherford International, Republic First Bancorp and Alaska Communications Systems.", "qualification": "The filing does not mention First Brands; it is linked to the First Brands independent manager by name and professional profile only.", "response": "", "outcome": "", "source_ids": [ "src-055" ], "entity_ids": [ "benjamin-duster" ] }, { "id": "c-lead-duster-cardone", "kind": "attributed", "text": "A commercial market-data profile lists Benjamin Duster as a director (board member) of Cardone Industries, Inc., the First Brands automobile-parts subsidiary, without a start date.", "qualification": "Aggregator listing only; no court or registry record of the appointment or its date was retained.", "response": "", "outcome": "", "source_ids": [ "src-080" ], "entity_ids": [ "benjamin-duster", "cardone" ] }, { "id": "c-lead-trico-limited-directors", "kind": "fact", "text": "Companies House records for Trico Limited (company number 00234268) list among its officers since 2016: Stephen Edward Graham, director and company secretary from December 16, 2016 to October 22, 2025; David William Parker, director from October 4, 2018 to August 10, 2025 after an earlier term from January 15 to December 16, 2016; Shekhar Kumar, director from January 31, 2022 (active); and Michael Baker, director from January 31, 2022 to September 25, 2025. Kumar's and Baker's entries give the group's address at 127 Public Square, Suite 5300, Cleveland.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-043", "src-044", "src-120" ], "entity_ids": [ "trico-limited", "stephen-graham", "david-parker", "shekhar-kumar", "michael-baker" ] }, { "id": "c-lead-trico-limited-2020", "kind": "fact", "text": "Companies House also lists Jay Russell Machado (October 21, 2020 to June 13, 2023) and Brian Andrew Troyer (October 21, 2020 to January 31, 2022) as former directors of Trico Limited, both with the correspondence address 127 Public Square, Suite 5300, Cleveland.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-043" ], "entity_ids": [ "trico-limited", "jay-machado", "brian-troyer" ] }, { "id": "c-lead-kumar-uk", "kind": "fact", "text": "Companies House lists six UK directorships of Shekhar Kumar: Trico Limited (from January 31, 2022) and Trico Suzhou Investments Limited (from January 18, 2022), both active; Qualitor Automotive UK Limited (from July 29, 2022; company dissolved); and, from February 8, 2023, Horizon Global Digital Limited (company dissolved), C.P. Witter Limited and Horizon Global European Holdings Limited (both resigned March 11, 2026).", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-044" ], "entity_ids": [ "shekhar-kumar", "trico-limited", "trico-suzhou", "qualitor-uk", "horizon-global-digital", "cp-witter", "horizon-global-european" ] }, { "id": "c-lead-baker-graham-uk", "kind": "fact", "text": "Companies House lists Michael Baker as a director of Qualitor Automotive UK Limited from July 29, 2022 (company dissolved) and of Trico Suzhou Investments Limited from January 18, 2022 to September 25, 2025, and Stephen Edward Graham as a director of Trico Suzhou Investments Limited from December 16, 2016 to October 22, 2025; these are, with Trico Limited, their only UK appointments.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-046", "src-045" ], "entity_ids": [ "michael-baker", "stephen-graham", "qualitor-uk", "trico-suzhou" ] }, { "id": "c-lead-parker-uk", "kind": "fact", "text": "David William Parker's four UK appointments recorded by Companies House are all in two Trico companies: director of Trico Limited and of Trico Suzhou Investments Limited from January 15 to December 16, 2016 and again from October 4, 2018 to August 10, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-120" ], "entity_ids": [ "david-parker", "trico-limited", "trico-suzhou" ] }, { "id": "c-lead-ultinon-germany-mds", "kind": "attributed", "text": "An aggregator's rendering of the German commercial register lists Shekhar Kumar, Michael Simon Baker, Stephen E. K. Graham and David William Parker as former managing directors of Ultinon Motion Germany GmbH (Aachen register HRB 19283), and Lumileds Holding B.V. as the company's former direct parent.", "qualification": "Aggregator data without appointment dates; the identification of these managing directors with the First Brands executives rests on matching names and the group context, not on a second identifier.", "response": "", "outcome": "", "source_ids": [ "src-113" ], "entity_ids": [ "shekhar-kumar", "michael-baker", "stephen-graham", "david-parker", "ultinon-germany", "lumileds" ] }, { "id": "c-lead-kumar-global-assets", "kind": "attributed", "text": "The same aggregator lists Shekhar Kumar as a current managing director of Global Assets GmbH.", "qualification": "Aggregator data without appointment dates; identification with the First Brands executive rests on the name and group context only.", "response": "", "outcome": "", "source_ids": [ "src-114" ], "entity_ids": [ "shekhar-kumar", "global-assets-gmbh" ] }, { "id": "c-gate-house-letter", "kind": "fact", "text": "On September 4, 2024 the chairman and ranking member of the U.S. House Select Committee on the CCP, John Moolenaar and Raja Krishnamoorthi, with Senators Sherrod Brown and Bill Cassidy and Representatives Darin LaHood, Glenn Ivey and Ashley Hinson, wrote to Patrick James as chief executive of First Brands Group at 3255 W Hamlin Road, Rochester Hills, Michigan. The letter said public information and a Department of Homeland Security raid raised concerns that the company's supplier Qingdao Sunsong and its U.S. subsidiary were circumventing Section 301 tariffs by transshipping products through Thailand, said the signatories were troubled by First Brands' continued purchases, and asked for written answers on its purchases and supplier due diligence, including forced-labour checks, by September 20, 2024.", "qualification": "A request for information expressing concern; it is not a finding that First Brands or its supplier broke the law. No reply from First Brands appears in the retained records.", "response": "", "outcome": "", "source_ids": [ "src-094" ], "entity_ids": [ "fbg", "patrick-james", "qingdao-sunsong" ], "adverse_subject_ids": [ "qingdao-sunsong" ] }, { "id": "c-gate-bdo-auditor", "kind": "fact", "text": "BDO USA, P.C. audited First Brands' financial statements from 2020: testimony at the November 10, 2025 hearing in the estate's suit against Patrick James, quoted in James's motion to dismiss, states that from 2020 through on or around December 31, 2024 BDO provided an audit report for First Brands. A docket summary of the bankruptcy case lists BDO USA, P.C. as auditor.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026", "src-040" ], "entity_ids": [ "bdo", "fbg" ] }, { "id": "c-gate-examiner-bdo", "kind": "attributed", "text": "The examiner's April 27, 2026 interim report cites a former executive who said First Brands switched audit firms to BDO because it \"was viewed as less rigorous\" and had a process that let the business \"do what we want with these guys\", and says witnesses reported that BDO did not directly access underlying enterprise systems such as Oracle or consistently perform independent verification.", "qualification": "Witness statements reported in an interim examiner's report; the examiner said the investigation was incomplete and more work was needed to determine whether the auditors complied with generally accepted auditing standards.", "response": "BDO said the report did not include interviews with BDO personnel or a review of its files and \"reaches inappropriate and factually inaccurate conclusions about our audit work based on hearsay from individuals involved in the fraud\", and reaffirmed that its audits were consistent with professional standards.", "outcome": "", "source_ids": [ "src-060" ], "entity_ids": [ "bdo", "fbg" ], "adverse_subject_ids": [ "bdo" ] }, { "id": "c-gate-black-diamond", "kind": "attributed", "text": "On April 29, 2026 funds managed by Black Diamond Capital Management, which said they relied on BDO's audits when buying about $70 million of First Brands' senior debt, sued BDO USA P.C. in an Ohio court of common pleas (Black Diamond Credit Strategies Master Fund et al. v. BDO USA P.C., No. cv-26-137992) for negligence, negligent and fraudulent misrepresentation and tortious interference with contract, alleging that the audits missed risk factors including First Brands' extensive use of factoring and hundreds of millions of dollars of transfers to the founder's personal trust.", "qualification": "Allegations in a pending civil suit; not adjudicated.", "response": "A BDO spokesperson said on April 30 that the lawsuit lacks merit, that the independent report and criminal indictments show the First Brands fraud was conducted to deceive BDO as its auditor, and that professional standards \"expressly contemplate the inability of an auditor to detect the kind of collusive fraud perpetrated by First Brands\".", "outcome": "", "source_ids": [ "src-060" ], "entity_ids": [ "bdo", "black-diamond", "fbg" ], "adverse_subject_ids": [ "bdo" ] }, { "id": "display-claim-3dbb00fb237ef3fdf297efc9", "kind": "analysis", "text": "The bankruptcy filings trace First Brands Group, LLC through First Brands Group Intermediate and First Brands Group Holdings to Viceroy Private Capital, Brake Parts Holdings and Aztec, and the debtors describe Patrick James as the sole indirect owner. Beside about $6.1 billion of funded debt, Viceroy's special purpose vehicles carried about $2.3 billion of inventory and lease financings from Onset, Evolution, Aequum and others, and third-party factors were owed about $2.3 billion. After the September 2025 filing the businesses were sold or wound down and the cases were converted to Chapter 7 on September 1, 2026. The estate's suits against Patrick James, Edward James and Onset are stayed pending the criminal case, in which both brothers pleaded not guilty and two former finance executives pleaded guilty. Each account keeps the parties' responses and the status of the claims beside it.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-004", "src-038", "src-002", "src-001", "src-010", "src-026", "src-006", "src-098", "src-088", "src-023", "src-035", "src-074", "src-025", "src-028", "src-072", "src-050", "src-051", "src-048", "src-039", "src-100", "src-059", "src-069", "src-079", "src-068", "src-084", "src-066", "src-005", "src-081", "src-095", "src-067", "src-077", "src-012", "src-011", "src-083", "src-105", "src-104", "src-106", "src-112", "src-101", "src-102", "src-116", "src-115", "src-107", "src-108", "src-109", "src-111" ], "entity_ids": [ "fbg", "viceroy", "bph", "aztec", "fbgh", "mayfair", "fbgi", "patrick-james", "charles-moore", "broad-street-holdings", "broad-street", "carnaby-holdings", "carnaby-fa", "carnaby-ii", "carnaby-iii", "carnaby-iv", "global-assets-gmbh", "global-assets-llc", "patterson", "starlight", "banco-santander", "onset", "neal-goldman", "william-transier", "weil", "brake-parts-inc", "cardone", "autolite", "hopkins-mfg", "horizon-global", "tmd", "walbro", "pgi-northstar", "pj-trust", "albion-realty", "alester", "battery-park", "bond-street", "ignite", "larchmont", "pegasus-aviation", "edward-james", "peter-brumbergs", "stephen-graham", "lumileds", "ultinon-holding", "liberty-i", "liberty-ii", "kroll", "wsfs", "diepersdorf", "cofo", "meteor", "fram-canada", "tdb" ] }, { "id": "display-claim-9a9f7522129c58ed2c6b883c", "kind": "analysis", "text": "First Brands Group, LLC is a Delaware limited liability company with its principal place of business at 127 Public Square in Cleveland, Ohio. Its Legal Entity Identifier record gives Delaware entity number 5304130 and a creation date of May 14, 2013, and its Chapter 11 petition lists Crowne Automotive Aftermarket, LLC and Trico Group, LLC as names used in the previous eight years. According to the debtors' first-day declaration, the business was formed in 2013 by its founder as Crowne Industrial Group, acquired Carter Fuel Pumps and Trico in 2013 and 2014, and from 2019 bought a number of established brands.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-004", "src-038", "src-002", "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "display-claim-4452710545fbfe813fbe721d", "kind": "analysis", "text": "The same declaration groups the brands into four categories, by the company's estimates for the preceding twelve months: braking products such as Raybestos, Centric Parts, StopTech and Cardone (about 33% of revenue), filtration products such as FRAM and Luber Finer (about 14%), vision and lighting products such as ANCO, Trico and Philips (about 29%) and repair and towing products such as Autolite, Carter Fuel Pumps, Reese and StrongArm (about 24%). At the petition date the group employed about 26,000 people across five continents, about 6,000 of them at the debtors in the United States and about 14,000 in Mexico, where it ran 36 factories and two distribution centers.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "display-claim-c287a4cb66111844744f3de5", "kind": "analysis", "text": "The corporate ownership statement filed with the petitions on September 28, 2025 sets out the holding chain. First Brands Group Holdings, LLC is owned 66% by Viceroy Private Capital, LLC, 33% by Brake Parts Holdings, Inc. and 1% by Aztec Corporation; Viceroy is wholly owned by Mayfair Enterprises, LLC. Holdings owns First Brands Group Intermediate, LLC, which holds 100% of the units of First Brands Group, LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002", "src-010" ], "entity_ids": [ "viceroy", "bph", "aztec", "fbgh", "mayfair", "fbgi", "fbg" ] }, { "id": "display-claim-444c28a123905b569bc7c2c6", "kind": "analysis", "text": "Above that chain the debtors' filings point to one person. The first-day declaration says the company's equity is owned 100% by its founder and sole equity holder, without naming the founder in those passages; the debtors' verified complaint of November 3, 2025 says the group of more than 100 entities is entirely 100% indirectly owned by Patrick James; and the chief restructuring officer, Charles Moore, testified on November 10, 2025 that it was \"my understanding\" that James was the sole owner. A press report on an October 2025 agreed order said James directly owns Mayfair, Aztec and Brake Parts Holdings, but no official document in the record names the owners of those three companies.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-003", "src-026", "src-006", "src-002" ], "entity_ids": [ "fbg", "patrick-james", "charles-moore", "mayfair", "aztec", "bph" ] }, { "id": "display-claim-80a23200c7ee37979eb601db", "kind": "analysis", "text": "A second silo sat beside the operating chain. Viceroy owns, directly or indirectly, twenty debtor special purpose vehicles (SPVs), among them the Carnaby, Broad Street, Patterson, Starlight and Global Assets companies; the first-day declaration states that the obligors on the off-balance-sheet financings are subsidiaries of Viceroy and Carnaby Capital Holdings, LLC, not of First Brands Group, LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-002" ], "entity_ids": [ "viceroy", "broad-street-holdings", "broad-street", "carnaby-holdings", "carnaby-fa", "carnaby-ii", "carnaby-iii", "carnaby-iv", "global-assets-gmbh", "global-assets-llc", "patterson", "starlight", "fbg" ] }, { "id": "display-claim-14592b9d2761b61ae2381eff", "kind": "analysis", "text": "The first-day declaration puts the debtors' obligations at the petition date at about $6.1 billion of on-balance-sheet funded debt in the First Brands Group Holdings silo, about $2.3 billion of off-balance-sheet financings incurred through SPVs in the Viceroy silo, about $800 million of unsecured supply-chain-financing liabilities and, in addition, about $2.3 billion of factoring liabilities. In the SPV programmes an SPV borrower bought or exchanged inventory from other group companies, borrowed against it and could sell the finished goods back; the SPVs were not obligors under the term loans or the asset-based facility.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbgh", "viceroy", "carnaby-holdings", "fbg" ] }, { "id": "display-claim-645602c64558967b7f693661", "kind": "analysis", "text": "Receivables were sold in two ways. Under customer factoring, First Brands sold invoices owed by large retailers to financial institutions partnered with those customers; under third-party factoring it sold receivables to unaffiliated factors and then owed the factor a payment about 105 days later itself. The debtors believed about $2.3 billion was unpaid under the third-party arrangements, and the special committee was investigating whether collections had been turned over and whether receivables had been factored more than once.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-098" ], "entity_ids": [ "fbg" ] }, { "id": "display-claim-28a5ac9761b072439fea1aa2", "kind": "analysis", "text": "The strain showed in 2025. A refinancing of about $6.2 billion led by Jefferies, launched in July 2025, was paused in August so that the company could complete a quality-of-earnings report requested by potential lenders. Onset Financial, Inc., the lessor to two Carnaby SPVs, had agreed a third forbearance on June 30, 2025 that raised scheduled payments to $1.9 billion, with Viceroy pledging 15% of its interests in First Brands Group Holdings; after a $570 million payment due on August 29, 2025 was missed, Onset gave notice of default and acceleration on September 9, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg", "banco-santander", "onset", "viceroy", "fbgh", "carnaby-iv", "carnaby-fa" ] }, { "id": "display-claim-2d67e96058a52fed2277aac5", "kind": "analysis", "text": "On September 17, 2025 the boards of the parent companies appointed Neal Goldman and William Transier as independent managers and formed a special committee, which took charge of potential transactions and of an investigation of claims against insiders, including the prepetition factoring and off-balance-sheet financing. The SPV debtors filed first, and First Brands Group, LLC filed in the U.S. Bankruptcy Court for the Southern District of Texas on September 28, 2025, in a petition signed by Charles M. Moore as chief restructuring officer. Patrick James resigned from all positions on October 12, 2025, and the company announced Moore as interim chief executive the next morning.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-002", "src-003", "src-088" ], "entity_ids": [ "fbgh", "fbgi", "fbg", "viceroy", "neal-goldman", "william-transier", "charles-moore", "weil", "patrick-james" ] }, { "id": "display-claim-ad87f61b783b175b236a9808", "kind": "analysis", "text": "An ad hoc group of first- and second-lien lenders provided a debtor-in-possession (DIP) facility of $1.1 billion of new money with a roll-up of up to $3.3 billion of prepetition loans, approved on November 7, 2025; the $4.4 billion headline combines the two and is not $4.4 billion of new liquidity. The court also ordered an examiner to investigate the factoring and inventory financings; E. Martin De Luca filed a redacted interim report on April 27, 2026, saying the work had paused because the $7 million budget was exhausted, and the report's findings are not court findings.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-023", "src-035", "src-074", "src-025", "src-028", "src-072", "src-050" ], "entity_ids": [ "fbg", "onset" ] }, { "id": "display-claim-026f67b5081e79c5920c1217", "kind": "analysis", "text": "The businesses were sold or closed. On January 26, 2026 First Brands announced the wind-down of Brake Parts Inc., Cardone and Autolite after failing to secure funding or buyers; an industry account of the conversion lists the sale of the Horizon Global towing business for $64 million, Toledo Molding & Die for $80 million and Walbro for $50 million, and the court approved the sale of 12 brands, including Fram, Autolite and Trico, to PGI Northstar LLC for $25 million on April 10, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-051", "src-074", "src-048" ], "entity_ids": [ "brake-parts-inc", "cardone", "autolite", "hopkins-mfg", "fbg", "horizon-global", "tmd", "walbro", "pgi-northstar" ] }, { "id": "display-claim-3f352a41f6b945c740c8334b", "kind": "analysis", "text": "The debtors' amended joint liquidating plan of June 5, 2026 would have funded a litigation trust with at least $75 million to pursue claims, but on August 24, 2026 Judge Christopher Lopez refused to confirm it, finding a recovery case that needed about $1.9 billion to $2.0 billion from litigation too uncertain; the court did not decide the merits of the estate's claims or find bad faith. On September 1, 2026 the judge converted the remaining cases to Chapter 7, by which time substantially all operating businesses had been sold or wound down and at least $222 million of obligations incurred during the bankruptcy remained unpaid; counsel for Onset put the unpaid administrative and priority claims at nearly $300 million. One trade report dated the conversion to the August 24 bench ruling, but the conversion order is dated September 1, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-039", "src-074", "src-025", "src-051", "src-100", "src-059" ], "entity_ids": [ "fbgh", "viceroy", "fbg" ] }, { "id": "display-claim-3128648a5470f1d25ddca596", "kind": "analysis", "text": "On November 3, 2025 the debtors sued Patrick James, the Patrick James Trust and seven companies they describe as under James's control, seeking the return of transfers they allege diverted company assets; a spokesman for James called the suit \"baseless\" and \"speculative\". The allegations have not been adjudicated: in April 2026 the bankruptcy court granted the United States' motion to intervene and stayed discovery pending the parallel criminal case, and on May 29, 2026 the district court dismissed the defendants' appeal of that stay.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-026", "src-069", "src-079", "src-068" ], "entity_ids": [ "fbg", "patrick-james", "pj-trust", "albion-realty", "alester", "battery-park", "bond-street", "ignite", "larchmont", "pegasus-aviation", "weil", "charles-moore", "edward-james" ] }, { "id": "display-claim-e1ae83e1aae168ee30c8a497", "kind": "analysis", "text": "On January 9, 2026 First Brands also sued Edward James and Onset Financial, alleging that Edward James acted as Onset's \"secret partner\" and that the two obtained over $2.3 billion in payments. Onset denied wrongdoing and called the claims a \"desperate attempt to blame a victim for doing business in good faith\"; by June 2026 that suit was stayed with the suit against Patrick James, pending the criminal charges.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-084", "src-039" ], "entity_ids": [ "fbg", "edward-james", "onset" ] }, { "id": "display-claim-5fee19d91a54b2615be77cf3", "kind": "analysis", "text": "A federal grand-jury indictment unsealed in the Southern District of New York on January 29, 2026 charges Patrick James in nine counts, including managing a continuing financial crimes enterprise, wire fraud, bank fraud and money-laundering conspiracy, and Edward James in Counts Two through Nine. It alleges that from at least 2018 through 2025 the brothers faked and inflated invoices, pledged the same collateral more than once and concealed liabilities from lenders. A spokesperson for Patrick James said James denies the charges, and a lawyer for Edward James expressed complete confidence in Edward James. The charges are unproven accusations: both pleaded not guilty on February 4, 2026 and are presumed innocent unless proven guilty, and the jury trial is set for February 9, 2027.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-066", "src-005", "src-081", "src-095", "src-067" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ] }, { "id": "display-claim-51be17bac077e0c9f0bb6e3f", "kind": "analysis", "text": "Two former finance executives pleaded guilty and are cooperating with prosecutors. Peter Andrew Brumbergs, the former vice president of finance, pleaded guilty on a date the U.S. Attorney gives as January 26, 2026; one press report said sentencing was set for June 22, 2026, but the retained docket extract contains no sentencing record. According to press accounts, the former chief financial officer Stephen Graham pleaded guilty on March 2, 2026; Graham's charging document and docket are not in the retained record, and one report said sentencing was set for August 3, 2026, that Graham was released on Graham's own signature and must forfeit property bought with proceeds of the scheme, with no later sentencing information in the record. Each plea is that person's own admission and is not a finding against anyone else.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-005", "src-077", "src-012", "src-011", "src-088", "src-083" ], "entity_ids": [ "peter-brumbergs", "fbg", "stephen-graham" ] }, { "id": "display-claim-6783dfd8e26aa3f16a1795f1", "kind": "analysis", "text": "First Brands bought the Ultinon automotive-lighting business from Lumileds in 2024 for about $238 million, according to the independent director of the Ultinon holding companies (other accounts give May or July 2024 instead of August); those holding companies filed their own Chapter 11 cases on March 26, 2026 to preserve claims for a litigation trust, and their liquidation plan was confirmed on August 20, 2026. In Germany, press reports from November 2025 described insolvency filings by several group units, and the press, not court files, is the source for their ownership by the group. Local courts appointed administrators for the CoFo companies on November 24, 2025, for Meteor on December 2, 2025 and, for the second time after 2022, for the former Bolta-Werke; Meteor's administrator was examining whether its sale to First Brands had been completed, with no result on record, and a later trade-press report said all three administrators were reviewing investor offers. In Canada, FRAM Group (Canada) Inc. made an assignment in bankruptcy that took effect on May 1, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-105", "src-104", "src-106", "src-112", "src-101", "src-102", "src-116", "src-115", "src-107", "src-108", "src-109", "src-111" ], "entity_ids": [ "lumileds", "ultinon-holding", "fbgh", "liberty-i", "liberty-ii", "kroll", "fbg", "wsfs", "banco-santander", "diepersdorf", "cofo", "meteor", "fram-canada", "tdb" ] }, { "id": "display-claim-dd21bd66bf87a9a9ac1559e5", "kind": "analysis", "text": "First Brands Group, LLC is a Delaware limited liability company with its principal place of business at 127 Public Square, Suite 5300, Cleveland, Ohio. Its GLEIF record names the Delaware Division of Corporations as registration authority with entity number 5304130 and shows the company as active. Its Chapter 11 petition gives the federal employer identification number 46-2872032 and the website firstbrandsgroup.com, lists Crowne Automotive Aftermarket, LLC and Trico Group, LLC as names used in the previous eight years, and classifies the business under NAICS code 5511, management of companies and enterprises.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-004", "src-038", "src-002" ], "entity_ids": [ "fbg" ] }, { "id": "display-claim-e65051f96d89f487e03f3915", "kind": "analysis", "text": "The records disagree on when the company was formed. GLEIF records May 14, 2013 as its creation date and the debtors' first-day declaration says First Brands was formed in 2013 under the name Crowne Industrial Group, but the tender offer document filed with the SEC in January 2023 describes it as a Delaware limited liability company formed on June 10, 2020. The retained records do not explain the difference, and no Delaware certificate of formation or conversion is among them. A third-party copy of the Delaware register lists entity number 5304130 under the former name Trico Group, LLC, with The Corporation Trust Company in Wilmington as registered agent, and shows registrations of First Brands Group, LLC as a foreign company in Michigan (802159536) and Ohio (4132192). That copy is an undated snapshot that shows neither the formation date nor the status, and the later GLEIF record names Registered Agent Solutions, Inc. as the address of the legal seat.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-013", "src-001", "src-017" ], "entity_ids": [ "fbg" ] }, { "id": "display-claim-ba6a3de067a4daf60366605e", "kind": "analysis", "text": "The company's Legal Entity Identifier, 2549005IXRZR7KSBJD91, was first registered on December 17, 2021. GLEIF lists the registration as lapsed: the record was last updated on October 18, 2025 and fell due for renewal the same day. It gives the legal address as c/o Registered Agent Solutions, Inc., 838 Walker Road, Suite 21-2, Dover, Delaware, and the headquarters as the Cleveland office; a GLEIF full-text search for \"First Brands Group\" published on October 15, 2026 returned only this record. The company's press release of October 13, 2025 announcing a leadership transition carried a Rochester Hills, Michigan dateline and described First Brands as a leading global supplier of aftermarket automotive parts.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-004", "src-038", "src-088" ], "entity_ids": [ "fbg", "ras" ] }, { "id": "display-claim-9f2a2984927e1d30ee97ffcf", "kind": "analysis", "text": "First Brands sells replacement parts for vehicles under long-established brands. Describing itself in the January 2023 tender offer for Horizon Global as a global automotive parts company, it named Raybestos brakes, Centric Parts brake components, FRAM and Luber-finer filtration products, TRICO and ANCO wiper blades, Carter fuel and water pumps, Autolite spark plugs, StrongArm lift supports and StopTech performance brakes. The debtors' first-day declaration groups the brands into four product categories. By the company's estimates for the preceding twelve months, braking products were the largest, at about 33% of revenue, followed by vision and lighting at about 29%, repair and towing at about 24% and filtration at about 14%.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-013", "src-001" ], "entity_ids": [ "fbg", "horizon-global" ] }, { "id": "display-claim-fb63bce7afe121a2b193cf91", "kind": "analysis", "text": "According to the same declaration, about 82% of revenue came from aftermarket parts, 13% from sales to original equipment manufacturers and about 5% from specialty and industrial customers. Aftermarket buyers included Advance Auto Parts, AutoZone, O'Reilly and NAPA Auto Parts as well as wholesale distributors and national retailers such as Walmart, Costco and Amazon, and the ten largest customers accounted for less than half of total net sales over the previous three years. At the petition date the group employed about 26,000 people across five continents, about 6,000 of them at the debtors in the United States. About 75% of revenue came from products sourced in North America. The company operated 36 factories and two distribution centers in Mexico, where about 14,000 employees were based and from where 57% of its U.S. sales volume was sourced.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "display-claim-9c84295956d8414283e7345b", "kind": "analysis", "text": "Counsel for Patrick James gave a different account of the business while defending the founder against the estate's claims. The court filing describes First Brands as owning 25 well-known brands supplying the largest aftermarket customers and original equipment manufacturers, says sales grew from $500 million in 2018 to $5 billion in 2024, and attributes the liquidity squeeze that preceded the Chapter 11 filings to tariffs, which it says raised landed inventory costs by about $99 million between April and August 2025. The sales figures and the tariff explanation are the filer's assertions. The debtors' own first-day declaration also cites tariffs, but together with mounting debt and lease obligations, particularly to the lessor Onset, as causes of the liquidity crisis.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-049", "src-001" ], "entity_ids": [ "patrick-james", "fbg", "onset" ] }, { "id": "display-claim-68901ad7ad7431240de3277d", "kind": "analysis", "text": "The list of affiliated debtors attached to First Brands Group, LLC's petition of September 28, 2025 covers the group's operating companies. It includes Champion Laboratories, Inc., Autolite Operations LLC, Carter Fuel Systems, LLC, Walbro LLC with Walbro Midco LLC and WEM US Co., and Toledo Molding & Die, LLC; Brake Parts Inc LLC, Cardone Industries, Inc., Dalton Corporation, Qualitor Automotive, LLC, Trico Products Corporation, Pylon Manufacturing Corp. with Pylon South Bend, Inc., and Hopkins Manufacturing Corporation with Carrand Companies, Inc., Jasper Rubber Products, Inc. and ASC Industries, Inc.; and UCI International, LLC with UCI International Holdings Parent Inc. and UCI International Holdings, Inc. According to the debtors' ownership statement, First Brands Group Holdings, LLC owns, directly or indirectly, 100% of every debtor outside the Viceroy group.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002" ], "entity_ids": [ "champion-labs", "autolite", "carter-fuel", "walbro", "tmd", "fbgh", "fbg", "viceroy", "brake-parts-inc", "cardone", "dalton", "qualitor", "trico-products", "pylon", "hopkins-mfg", "uci-international" ] }, { "id": "display-claim-b16817d043e07fc9052b7612", "kind": "analysis", "text": "Five Horizon Global companies are on the same list: Horizon Global Corporation, Horizon Global Company LLC, Horizon Global Americas Inc., Horizon International Holdings LLC and Horizon Euro Finance LLC. The list dates the petitions September 28, 2025, while the court docket shows the Horizon cases, Nos. 25-90414 to 25-90418, opened on September 29, 2025 and jointly administered under the First Brands Group, LLC case, No. 25-90399. The docket records further subsidiaries' cases under the same lead case, among them FRAMAuto Holdings, LLC (No. 25-90401), Autolite Operations LLC (No. 25-90402), FRAM Group Operations LLC (No. 25-90403), FRAM Group IP LLC (No. 25-90404), Champion Laboratories, Inc. (No. 25-90445), Trico Products Corporation (No. 25-90472), Trico Holding Corporation (No. 25-90476), Brake Parts Inc LLC (No. 25-90477), Dalton Corporation (No. 25-90492) and Cardone Industries, Inc. (No. 25-90493). FRAMAuto Holdings, LLC, also known as Oculus LLC, filed its own case on September 28, 2025 and is recorded in a docket summary as 100% owned by First Brands Group, LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002", "src-040", "src-010" ], "entity_ids": [ "horizon-global", "horizon-global-company", "horizon-global-americas", "fbg", "fbgh", "viceroy", "framauto", "autolite", "fram-operations", "fram-ip", "champion-labs", "trico-products", "brake-parts-inc", "dalton", "cardone" ] }, { "id": "display-claim-e8b9250f3325c5a36578c601", "kind": "analysis", "text": "Patrick James signed the omnibus consent authorising the group's Chapter 11 filings in three capacities: as Manager of 47 limited liability companies of the group, among them Autolite Operations, FRAM Group Operations, Horizon Global Company, Carter Fuel Systems, Qualitor Automotive, Brake Parts Inc, UCI International, Walbro, Eagle Machining, Toledo Molding & Die and the Viceroy-group special purpose vehicles Carnaby Inventory IV, LLC and Carnaby FA, LLC; as sole director of 39 group corporations, among them Pylon Manufacturing, Trico Products, Cardone Industries, Champion Laboratories, Hopkins Manufacturing, Horizon Global Corporation, Horizon Global Americas and Dalton Corporation; and, with Shekhar Kumar, as one of the two directors of two Dalton manufacturing-facility corporations.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002" ], "entity_ids": [ "patrick-james", "autolite", "fram-operations", "horizon-global-company", "carter-fuel", "qualitor", "brake-parts-inc", "uci-international", "walbro", "eagle-machining", "tmd", "carnaby-iv", "carnaby-fa", "pylon", "trico-products", "cardone", "champion-labs", "hopkins-mfg", "horizon-global", "horizon-global-americas", "dalton", "shekhar-kumar" ] }, { "id": "display-claim-6ce49c6bf198f5be3a3dc484", "kind": "analysis", "text": "The group's special purpose vehicles (SPVs) filed first. The docket records Chapter 11 cases opened on September 24, 2025 for Global Assets LLC (No. 25-90383), Global Lease Assets Holdings, LLC, Carnaby Capital Holdings, LLC (No. 25-90385), Broad Street Financial Holdings, LLC (No. 25-90386), Broad Street Financial, LLC (No. 25-90387), Carnaby Inventory II, LLC (No. 25-90388), Carnaby Inventory III, LLC (No. 25-90390), Patterson Inventory, LLC (No. 25-90392, the lead case for the Patterson and Starlight entities) and Starlight Inventory I, LLC (No. 25-90394).", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-040", "src-001" ], "entity_ids": [ "global-assets-llc", "carnaby-holdings", "broad-street-holdings", "broad-street", "carnaby-ii", "carnaby-iii", "patterson", "starlight" ] }, { "id": "display-claim-e52d2f27b7a781e4450face6", "kind": "analysis", "text": "The docket lists the debtors at one common address, 127 Public Square, Suite 5300, Cleveland, Ohio: operating companies such as Cardone Industries, Inc. and Carrand Companies, Inc. as well as the SPVs Carnaby Capital Holdings, LLC, Carnaby FA, LLC, Carnaby Inventory II, LLC, Carnaby Inventory III, LLC and Carnaby Inventory IV, LLC and their holding companies. A shared mailing address in the case records reflects the group's common administration; it does not by itself show ownership or control.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-040" ], "entity_ids": [ "cardone", "carnaby-holdings", "carnaby-fa", "carnaby-ii", "carnaby-iii", "carnaby-iv", "fbg" ] }, { "id": "display-claim-9d0200a674f62c69802599b3", "kind": "analysis", "text": "GLEIF records add former names and locations for several subsidiaries. Horizon Global Corporation, with its headquarters at 2600 West Big Beaver Road, Troy, Michigan, is named as the direct parent of Horizon Global Company LLC, which has the same Troy headquarters; both, like Toledo Molding & Die, LLC and Brake Parts Inc LLC, give their legal address c/o Registered Agent Solutions, Inc. in Dover, Delaware. Horizon Global Americas Inc., headquartered at 47912 Halyard Drive, Plymouth, Michigan, was formerly Cequent Towing Products, Inc. and Cequent Performance Products, Inc. Toledo Molding & Die, LLC, formerly Toledo Molding & Die, Inc., is headquartered at 1429 Coining Drive, Toledo, Ohio, and Brake Parts Inc LLC at 4400 Prime Parkway, McHenry, Illinois.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-058", "src-057", "src-056", "src-034" ], "entity_ids": [ "horizon-global", "horizon-global-company", "ras", "horizon-global-americas", "tmd", "brake-parts-inc" ] }, { "id": "display-claim-e38dd791dc496d6682654cce", "kind": "analysis", "text": "State and foreign registers show how far the group reached. In Florida, FRAM Group Operations LLC was registered on April 4, 2011 as a foreign Delaware limited liability company (document M11000001713), with FRAMAuto Holdings, LLC of the Cleveland address as its member and authorized person and Registered Agent Solutions, Inc. as registered agent; the registration was revoked on September 25, 2026 for failure to file an annual report, the last having been filed on March 26, 2025. In the United Kingdom, the Companies House register lists Trico Investments Corporation, a U.S. company with a correspondence address at 127 Public Square, Suite 5110, Cleveland, as the only person with significant control of Trico Limited (company number 00234268), notified on April 6, 2016: it holds 75% or more of the shares and voting rights and the right to appoint or remove directors.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-030", "src-029", "src-032" ], "entity_ids": [ "fram-operations", "framauto", "ras", "trico-investments", "trico-limited" ] }, { "id": "display-claim-dcb1d68659eb0ad87c3e72e9", "kind": "analysis", "text": "The debtors' consolidated corporate ownership statement, filed with the Chapter 11 petitions on September 28, 2025, sets out the chain above First Brands Group, LLC. First Brands Group Holdings, LLC is owned 66% by Viceroy Private Capital, LLC, itself a debtor, and 33% and 1% respectively by Brake Parts Holdings, Inc. and Aztec Corporation, both non-debtors; the non-debtor Mayfair Enterprises, LLC owns 100% of the membership interests in Viceroy. Holdings owns, directly or indirectly, 100% of all debtors other than the Viceroy debtors. The petition's list of equity holders names First Brands Group Intermediate, LLC, of 127 Public Square, Suite 5300, Cleveland, as the holder of 100% of the units of First Brands Group, LLC, and a docket summary records that Intermediate is wholly owned by Holdings.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002", "src-010" ], "entity_ids": [ "viceroy", "bph", "aztec", "fbgh", "mayfair", "fbgi", "fbg" ] }, { "id": "display-claim-7143fe1a2645285e008a844d", "kind": "analysis", "text": "First Brands Group Intermediate, LLC was formerly named Trico Group Holdings, LLC and is the parent party to the group's asset-based lending (ABL) credit agreement, under which First Brands Group, LLC is a borrower. The debtors stated that, to the best of their knowledge and belief, no corporation other than those listed directly or indirectly owns 10% or more of the membership interests of any debtor. According to the chief restructuring officer's first-day declaration, the four parent entities, First Brands Group Holdings, First Brands Group Intermediate, First Brands Group, LLC and Viceroy Private Capital, each had a board of managers made up of Patrick James, Stephen Graham and Shekhar Kumar as managers and Neal Goldman and William Transier as independent managers.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-010", "src-002" ], "entity_ids": [ "fbgi", "fbg", "fbgh", "viceroy", "patrick-james", "stephen-graham", "shekhar-kumar", "neal-goldman", "william-transier" ] }, { "id": "display-claim-3f476944379eb653996943e3", "kind": "analysis", "text": "The ownership statement places the group's off-balance-sheet special purpose vehicles (SPVs) outside the First Brands Group, LLC chain. Viceroy Private Capital, LLC owns, directly or indirectly, 100% of twenty debtors, including Broad Street Financial Holdings, LLC, Broad Street Financial, LLC, Carnaby Capital Holdings, LLC, Carnaby FA, LLC, Carnaby Inventory II, LLC, Carnaby Inventory III, LLC, Carnaby Inventory IV, LLC, Global Assets GmbH, Global Assets LLC, Patterson Inventory, LLC and Starlight Inventory I, LLC and their holding companies. The first-day declaration states that the obligors on the off-balance-sheet obligations are subsidiaries of Viceroy and Carnaby Capital Holdings, LLC and not of First Brands Group, LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-002" ], "entity_ids": [ "viceroy", "broad-street-holdings", "broad-street", "carnaby-holdings", "carnaby-fa", "carnaby-ii", "carnaby-iii", "carnaby-iv", "global-assets-gmbh", "global-assets-llc", "patterson", "starlight", "fbg" ] }, { "id": "display-claim-4ee4ee6df60c92791100ee49", "kind": "analysis", "text": "The split carries over to the debt. As of the petition date, the first-day declaration says, First Brands Group Holdings, LLC and its debtor subsidiaries held approximately $6.1 billion of on-balance-sheet funded debt, while Viceroy Private Capital, LLC and its debtor subsidiaries held approximately $2.3 billion of off-balance-sheet financings incurred through the SPVs; the debtors also had approximately $800 million of unsecured supply-chain-financing liabilities and approximately $2.3 billion of factoring liabilities. Viceroy's stake in Holdings was itself partly pledged: under a third forbearance of June 30, 2025, which restructured the payment schedules owed to Onset Financial, Inc., Viceroy pledged 15% of its membership interests in First Brands Group Holdings, LLC to Onset. After a $570 million payment was missed, Onset delivered a notice of default and acceleration on September 9, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbgh", "viceroy", "onset", "carnaby-iv", "carnaby-fa" ] }, { "id": "display-claim-a338448a011b3226a95010c0", "kind": "analysis", "text": "The debtors' first-day declaration states that the company's equity is owned 100% by its founder and sole equity holder and that each of the 112 debtor entities is 100% indirectly owned by the founder, without naming that person in these passages. The debtors' verified adversary complaint of November 3, 2025 states that Patrick James founded First Brands in 2013 and that the group, spanning five continents and more than 100 entities, is entirely 100% indirectly owned by James. At a hearing in that suit on November 10, 2025, the debtors' chief restructuring officer, Charles Moore, testified that the entities \"eventually roll up to ownership by Mr. Patrick James\" and, asked whether James was the sole owner of each of them, answered: \"That's my understanding.\"", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-003", "src-026" ], "entity_ids": [ "fbg", "patrick-james", "charles-moore" ] }, { "id": "display-claim-2acbbab2bbeab7f3e9a614c3", "kind": "analysis", "text": "Filings made before the bankruptcy say the same. In the tender offer document for Horizon Global filed with the SEC on January 9, 2023, First Brands Group, LLC disclosed that Patrick James was its sole owner, listed James as its controlling person, a director, Chairman and Chief Executive Officer, and stated that James had been a board member, Chairman and Chief Executive Officer for more than five years. In a merger notification received by the European Commission on February 12, 2025 (case M.11892), the notifying parties stated that Global Technologies Partners, LLC, whose 100% subsidiary Global Technologies S.à r.l. was to acquire sole control of Novares Group SAS, is ultimately owned by Patrick James, who is also the ultimate owner of First Brands Group, LLC. The notifying parties prepared that description under their sole responsibility, and the Commission states that it does not prejudge its view of the transaction.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-009", "src-013", "src-093" ], "entity_ids": [ "patrick-james", "fbg", "horizon-global", "gt-sarl", "gt-partners", "novares" ] }, { "id": "display-claim-b0be702b29fe89cbaffa4056", "kind": "analysis", "text": "Two records describe the ownership without the intermediate layers. In a motion to dismiss the estate's complaint dated December 15, 2025, counsel for Patrick James described First Brands Group Holdings, LLC as a Delaware limited liability company owned by Mr. James and argued that the complaint did not account for this structure. The motion does not state the intermediate holders, whereas the debtors' ownership statement lists Viceroy Private Capital, Brake Parts Holdings and Aztec Corporation as the direct members of Holdings. The GLEIF record of First Brands Group, LLC names no parent entity at all: for both its direct and its ultimate accounting consolidation parent it declares the reporting exception \"NATURAL_PERSONS\".", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026", "src-004" ], "entity_ids": [ "patrick-james", "fbgh", "viceroy", "bph", "aztec", "fbg" ] }, { "id": "display-claim-5226fbb739c7bed0f9946fe2", "kind": "analysis", "text": "No official document in the record names the owners of the three direct holders, Mayfair Enterprises, LLC, Brake Parts Holdings, Inc. and Aztec Corporation. A press report on the agreed order of October 8, 2025 between the debtors, Patrick James and the three equity holders stated, citing the organisational chart in the debtors' first-day papers, that these entities are direct and indirect owners of the debtors' equity and that James is the direct owner of the equity holders. That is a single press account of the chart: the retained text of the organisational chart attached to the petition shows an \"Equity Owner\" box above Aztec Corporation (Ohio), Brake Parts Holdings, Inc. and Mayfair Enterprises, LLC without a legible name.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-006", "src-002" ], "entity_ids": [ "patrick-james", "mayfair", "aztec", "bph", "fbg" ] }, { "id": "display-claim-8c5a86aa3c986e3068779c94", "kind": "analysis", "text": "Under that order, entered by Judge Christopher Lopez, James and the equity holders agreed to preserve the debtors' approximately $380 million of federal net operating loss carryforwards, part of which is subject to prior limitations, and not to take any action that could cause an ownership change; the order is known from a report summarising it and is not itself retained. Mayfair Enterprises, LLC also appears on the bankruptcy docket as a creditor, represented by its own counsel.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-006", "src-040" ], "entity_ids": [ "fbg", "patrick-james", "mayfair", "aztec", "bph" ] }, { "id": "display-claim-ae93a721bd16227bc3beedf3", "kind": "analysis", "text": "According to the debtors' first-day declaration, First Brands was formed in 2013 by its founder under the name Crowne Industrial Group. In 2013 and 2014 it acquired brands such as Carter Fuel Pumps and Trico, a maker of windshield wiper blades, and from 2019 it expanded further by acquiring a number of established brands, some of them decades or a century old, with the aim of becoming a leading supplier across the aftermarket parts industry.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "display-claim-0b6ad2bcbb08cd4196980ba5", "kind": "analysis", "text": "A press report published in October 2025 traces the beginning of that expansion to the investment bank Jefferies, which it says provided a loan in 2014 for Patrick James's acquisition of Trico Products, a Michigan-based maker of windscreen wipers; the report calls that deal the foundation of what became First Brands and says Jefferies went on to conclude deal after deal with the group. The loan documents are not in the record. Jefferies' chief executive was quoted as emphasising that First Brands had engaged with a range of banks and Wall Street firms over the previous ten years. The same report, citing documents it had seen, says an early financier was Greensill Capital, which in 2015 began providing tens of millions of dollars linked to the invoices of Crowne Group, described as Patrick James's holding company. Those documents are not in the record either, and the retained records do not show how Crowne Group relates to First Brands Group, LLC, which was formed as Crowne Industrial Group.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-086" ], "entity_ids": [ "jefferies-fg", "patrick-james", "trico-products", "fbg", "greensill" ] }, { "id": "display-claim-890b0b005e10a37cead3bd2d", "kind": "analysis", "text": "Brake Parts Inc., known for its Raybestos aftermarket brakes and based at 4400 Prime Parkway, was incorporated in 1988. A local newspaper reported in February 2026 that First Brands Group bought the company in July 2020 for a reported $510 million; no transaction document is in the record.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-090" ], "entity_ids": [ "brake-parts-inc", "fbg" ] }, { "id": "display-claim-d691914fc6888becdd4bf35b", "kind": "analysis", "text": "According to the January 2023 tender offer document, Jefferies, acting for Horizon Global Corporation in its strategic review, contacted First Brands Group, LLC on July 28, 2022 about a possible transaction, and Horizon and First Brands executed a confidentiality agreement on July 29, 2022. The agreement, for a transaction code-named Project Phoenix, was addressed to Stephen Graham as Chief Financial Officer of First Brands Group, LLC and covered information furnished by the target group, including through its adviser Jefferies LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-087", "src-013" ], "entity_ids": [ "jefferies-llc", "horizon-global", "fbg", "stephen-graham" ] }, { "id": "display-claim-079659695799a06f3a8c3360", "kind": "analysis", "text": "Jefferies also had a financing relationship with the buyer. The tender offer document states that since 2020 Jefferies had provided financing services to First Brands Group, LLC in five earlier transactions. Because Jefferies was also advising Horizon, Horizon's Strategic Alternatives Committee decided on November 12, 2022 that Jefferies could provide financing to First Brands if First Brands became the acquirer, and Horizon approved Jefferies' financing discussions with First Brands. The price fell during the negotiations: on November 1, 2022 First Brands proposed $2.00 per share of common stock, based on an estimated total enterprise value of about $425 million at closing, and on December 27, 2022 it revised the offer to $1.75 per share, citing Horizon's financial situation and expected higher capital expenditure. Paul Hastings LLP acted as First Brands' legal counsel in negotiating the merger agreement.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-013" ], "entity_ids": [ "jefferies-llc", "fbg", "horizon-global", "paul-hastings" ] }, { "id": "display-claim-394d2bfa8bd20b560446bcda", "kind": "analysis", "text": "The offer was made by PHX Merger Sub, Inc., a Delaware corporation incorporated on December 16, 2022 as a wholly owned subsidiary of First Brands Group, LLC and formed solely to complete the offer and merger. It offered $1.75 per share of common stock plus the redemption price for the Series B preferred stock, with the offer scheduled to expire just after 11:59 p.m. Eastern Time on February 6, 2023. First Brands and the purchaser estimated the total funds needed for the offer, the merger and related fees at about $425 million, to be supplied by First Brands from cash on hand and available financing. On February 8, 2023, after the offer was completed, PHX Merger Sub merged into Horizon Global Corporation, which survived as a wholly owned subsidiary of First Brands Group, LLC; the same day Horizon asked the New York Stock Exchange to halt and suspend trading in its common stock and to file for its delisting and deregistration.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-009", "src-013", "src-031" ], "entity_ids": [ "phx-merger-sub", "fbg", "horizon-global" ] }, { "id": "display-claim-54c8f8900205831fd1f15622", "kind": "analysis", "text": "According to the March 26, 2026 declaration of the independent director of the Ultinon holding companies, First Brands bought the Ultinon automotive-lighting business, until then part of the Lumileds group, from Lumileds Holding B.V. in August 2024 for about $238 million, subject to adjustments. Other accounts date the transaction differently: a case summary lists a May 2024 sale announcement by Lumileds and completion in July 2024, and a German legal press report says First Brands took over the business in May 2024. The business makes lights for the aftermarket and for vehicle manufacturers at plants in Aachen (Germany), Pabianice (Poland) and Songzi (China), most recently held about 20% of the global automotive-lighting market, and had generated EBITDA of about $61 million in 2022 and $48 million in 2023.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-105", "src-104", "src-106" ], "entity_ids": [ "lumileds", "ultinon-holding", "fbgh" ] }, { "id": "display-claim-4ab8ed9354a6beab5b425028", "kind": "analysis", "text": "In the bankruptcy, the debtors' side challenged the economics of the acquisitions. Marc S. Kirschner, an expert paid by the debtors' lawyers, said in a July 2026 report filed in support of the liquidating plan that First Brands paid $1.6 billion for 10 acquisitions between 2022 and 2024, that only three were sold during the Chapter 11 cases, for $195 million against an acquisition cost of $641 million, and that in 2023 and 2024 First Brands paid $488 million for assets already owned or controlled by Patrick James, which entities controlled by James had bought for about $422 million. The court did not assess the merits of the expert's arguments when it denied the plan. Patrick James's response to the examiner's report says the acquisitions reflected sound business judgment.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-085", "src-070", "src-050" ], "entity_ids": [ "patrick-james", "fbg" ] }, { "id": "display-claim-3bc32f2e72d5970497b28b50", "kind": "analysis", "text": "One acquisition ran through a company outside the group. According to the examiner's interim report as reported in the press, Global Technologies S.à r.l. of Luxembourg, owned by Patrick James outside the First Brands group, acquired Novares Group S.A.S. in 2025, and First Brands paid about $31 million in connection with the sale of Novares subsidiaries whose North American operations were to sit within First Brands; no transfer documentation existed and the $31.1 million was not returned. On September 17 and 19, 2025 the group's Dutch company Cequent Nederland paid Novares about $1.2 million each time as an \"advance payment\", which employees said lacked justification. These are preliminary findings and have not been adjudicated. James's response says certain Novares Americas entities were operationally treated as part of the First Brands enterprise after the acquisition, that most of the funding came from a third-party financier, and that Global Technologies worked in good faith to finalise the transfer until the debtors abruptly discontinued discussions in late October 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-050" ], "entity_ids": [ "gt-sarl", "novares", "patrick-james", "fbg" ] }, { "id": "display-claim-31426a19e142035888518b3c", "kind": "analysis", "text": "The debtors' first-day declaration, executed on September 29, 2025, sorts the obligations at the petition date into four layers. About $6.1 billion was on-balance-sheet funded debt, held by First Brands Group Holdings, LLC and its debtor subsidiaries. About $2.3 billion was \"off-balance sheet\" financing incurred through special purpose vehicles and held by Viceroy Private Capital, LLC and its debtor subsidiaries. The rest was about $800 million of unsecured supply-chain-financing liabilities and, in addition, about $2.3 billion of factoring liabilities.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbgh", "viceroy" ] }, { "id": "display-claim-1d695ab0eec8e5a729138cc6", "kind": "analysis", "text": "The declaration's debt table adds up to total debtor obligations of $9,295.4 million. Term loans account for $5,539.9 million: a $100 million first-lien letter-of-credit facility, first-lien term loans of $3,886.9 million in dollars and $763 million in euros, $250 million of side-car term loans and $540 million of second-lien term loans. The asset-based lending (ABL) obligations of $596.3 million comprise $226.9 million of loans and letters of credit and $369.4 million of ABL supply-chain-financing and cash-management obligations. Off-balance-sheet obligations of the special purpose vehicles (SPVs) come to $2,346.8 million (Aequum facilities $77.8 million, CarVal facilities $159.0 million, Evolution facilities $230 million and the Onset lease $1,880 million), and supply-chain-financing obligations to $812.4 million. Most balances are as of June 30, 2025, the Aequum, CarVal and Evolution balances as of July 31, 2025; the euro tranche is converted at 1.19 dollars per euro, and the side-car amount excludes a make-whole premium of about $26 million.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "display-claim-804ec65d3d13310922538d9f", "kind": "analysis", "text": "According to the same declaration, the audited consolidated financial statements for 2024 show total net sales of approximately $5 billion. With $6.1 billion of funded debt against reported EBITDA of $1.133 billion, the company was levered about five times at the petition date. Much of the funded debt had been raised for acquisitions between 2019 and 2024, which were primarily debt-financed, and annual debt service exceeded $900 million before counting any obligations under the Onset master leases. The declaration attributes part of the strain on liquidity before the filing to nearly $160 million of up-front integration costs in the twelve months to June 2025 (plant consolidation, severance, purchasing and insourcing), about $200 million spent on launching new programs between June and September 2025, and tariff-related costs of about $220 million as of the end of August 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg", "onset" ] }, { "id": "display-claim-ef8ee870cd268e9f6b172415", "kind": "analysis", "text": "The asset-based revolving facility dates from February 2, 2018, when First Brands Group, LLC entered into an ABL Credit Agreement as lead borrower, with Trico Limited (England and Wales) and Trico Belgium SA as further borrowers and First Brands Group Intermediate, LLC (formerly Trico Group Holdings, LLC) as parent. Bank of America, N.A. is administrative and collateral agent, as successor to Goldman Sachs Bank USA. The facility was originally up to $80 million, with total commitments of up to $250 million; at the petition date about $227 million was outstanding, about $133 million of borrowings and about $93 million of undrawn letters of credit. Debtor affiliates guarantee the obligations, which are secured by a first-priority lien on the ABL Priority Collateral and a third-priority lien on the Term Priority Collateral.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-023" ], "entity_ids": [ "fbg", "trico-limited", "trico-belgium", "fbgi", "bank-of-america", "goldman-sachs-bank" ] }, { "id": "display-claim-4475f93daad2fac97cdb2893", "kind": "analysis", "text": "On the same day First Brands Group, LLC, as borrower, and First Brands Group Intermediate, LLC, as parent, entered into a First Lien Term Loan Agreement, followed on February 26, 2019 by a Second Lien Term Loan Agreement. Jefferies Finance LLC is administrative and collateral agent of both as successor to Credit Suisse AG, Cayman Island Branch, which on the first-lien loan had itself succeeded Goldman Sachs Bank USA. At the petition date first-lien term loans of $3,886.9 million and $763 million were outstanding, including a $24.5 million bridge loan that certain first-lien lenders provided on September 25, 2025 so that the debtors could meet payroll and other critical payments, together with $540 million of second-lien term loans. The first-lien loans hold a first-priority lien on the Term Priority Collateral and a second-priority lien on the ABL Priority Collateral; the second-lien loans a second-priority lien on the Term Priority Collateral and a third-priority lien on the ABL Priority Collateral.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-023" ], "entity_ids": [ "fbg", "fbgi", "jefferies-finance", "goldman-sachs-bank" ] }, { "id": "display-claim-3a297cc16e1ea139bf27d9ea", "kind": "analysis", "text": "The GLEIF record of the agent, Jefferies Finance LLC (LEI 549300SKVB18YSSIDT75), gives its previous legal name as Jefferies Babson Finance LLC, its jurisdiction as Delaware with registration number 3833598, its creation date as July 26, 2004, its headquarters as 520 Madison Avenue, New York, and its entity status as active.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-037" ], "entity_ids": [ "jefferies-finance" ] }, { "id": "display-claim-886aa3b504bbe10c7c955942", "kind": "analysis", "text": "A side-car first-lien term loan agreement followed on June 16, 2025, with Sagard Holdings Manager (US) LLC as Sagard administrative agent and GLAS USA LLC as GLAS administrative agent and collateral agent; $250 million of term loans were extended that day, secured by a first-priority lien on the Term Priority Collateral and a second-priority lien on the ABL Priority Collateral, and a side letter restricted new-money borrowing without the side-car lenders' consent. After the company failed to make an interest payment due on September 16, 2025, the side-car lenders accelerated the loan on September 24, 2025, including a make-whole premium of about $26 million, so that about $276 million was outstanding at the petition date.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg", "fbgi", "sagard-hm", "glas-usa" ] }, { "id": "display-claim-119b871dd286633abd101609", "kind": "analysis", "text": "The first-day declaration divides the collateral of the FBG debtors into two pools. On the ABL Priority Collateral (accounts, inventory, payment intangibles and deposit and securities accounts) the ABL lenders rank first; on the Term Priority Collateral (equipment and real property, intellectual property and equity interests) the first-lien, side-car and second-lien lenders rank ahead. Their rights are set out in an Amended and Restated Intercreditor Agreement dated February 26, 2019, and the debtor-in-possession (DIP) credit agreement refers to an Amended and Restated ABL Intercreditor Agreement among the first-lien collateral agent, the ABL agent, the second-lien administrative agent and the loan parties.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023", "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "display-claim-46825e8bf956d4d0381e5a23", "kind": "analysis", "text": "In England, the Companies House charges register for Trico Limited (company number 00234268) records 16 charges, 3 outstanding and 13 satisfied. All three outstanding charges are in favour of Bank of America, N.A.: a debenture with a fixed charge over land created on July 31, 2020, and charges created on January 3, 2019 and on November 12, 2018, the last noted as released over all of the property or undertaking. A charge created on February 2, 2018 in favour of Goldman Sachs Bank USA as security trustee was satisfied on September 29, 2022. The register does not state which facility each charge secures; Trico Limited is a borrower under the ABL facility, for which Bank of America, N.A. is administrative and collateral agent as successor to Goldman Sachs Bank USA.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-033", "src-001" ], "entity_ids": [ "trico-limited", "bank-of-america", "goldman-sachs-bank" ] }, { "id": "display-claim-516498d6cb21e858da4e54c3", "kind": "analysis", "text": "Before the filing the company pursued three financing processes, according to the first-day declaration. From mid- to late 2024 it sought new term loans of about €1.3 to 1.5 billion by separating its operations outside North America, including the Trico and ANCO brands, into a new entity; the marketing was led by Banco Santander, S.A. and ended without sufficient lender interest. In July 2025 it launched a global refinancing led by Jefferies to raise about $6.2 billion, which was paused in August 2025 so that the company could complete a quality-of-earnings report requested by certain potential lenders. It also pursued bridge financing for a possible out-of-court sale.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg", "banco-santander" ] }, { "id": "display-claim-9fb2d3bf860d1a72c4fdee8b", "kind": "analysis", "text": "Jefferies Financial Group Inc. gave its own account in a letter from its chief executive and president. Apart from one $300 million loan in 2023 that Jefferies underwrote, the letter said, every First Brands financing Jefferies arranged in the previous ten years was on a best-efforts basis, and the 2025 refinancing did not proceed because a quality-of-earnings report requested of and promised by First Brands was never delivered. The letter also set out the exposure of Jefferies Finance LLC, a 50/50 joint venture of MassMutual and Jefferies: collateralised loan obligations (CLOs) that it manages through its subsidiary Apex Credit Partners owned $48 million principal amount of First Brands term loans, with a current market value of about $17 million, and Apex CLOs had participated in $8.8 million of the DIP financing.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-027" ], "entity_ids": [ "jefferies-fg", "jefferies-finance", "fbg" ] }, { "id": "display-claim-d8a775d0db54963f038912ba", "kind": "analysis", "text": "The asset-based facility stopped funding in mid-September 2025. On September 15 the company tried to draw the remaining approximately $23 million; Bank of America, as ABL agent, said reserves would be established and refused to fund. On September 18 the agent alleged an event of default because the company could not pay its debts as they became due and set a $200 million reserve, producing an overadvance of about $168 million, and on September 19 it asserted that the purchase price paid for certain factored inventory was ABL collateral that had to be deposited into a controlled account. Under a forbearance agreement of September 25, 2025 the ABL lenders agreed not to exercise remedies until October 5, 2025, and the company agreed to provide reporting, accept restrictions on moving collateral and immediately discontinue certain factoring practices.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg", "bank-of-america" ] }, { "id": "display-claim-d4b3b6543510ef897211fc0f", "kind": "analysis", "text": "On September 23, 2025 the company learned that Southstate Bank had set off debts it said the company owed, about $30 million, against a company account holding about $27 million of working capital, described as the last remaining liquidity of the U.S. entities. According to the first-day declaration this left the company with only $14 million of cash, not enough to fund operating expenses including payroll, and led to the $24.5 million first-lien bridge loan of September 25, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg", "southstate" ] }, { "id": "display-claim-8d3b17d90cb56538e7b3bb13", "kind": "analysis", "text": "At the first-day hearing, according to the transcript as quoted in a later court filing, the ad hoc group of lenders providing the debtor-in-possession financing was described as holding approximately 99 percent of the first-lien term loan, 100 percent of the first-lien side-car term loans and 83 percent of the second-lien term loans.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026" ], "entity_ids": [ "fbg" ] }, { "id": "display-claim-3f04fce3570094a55a5a2688", "kind": "analysis", "text": "Filings of individual holders show the loans in investment portfolios. A prospectus that Palmer Square Capital BDC Inc. filed with the SEC on July 23, 2024 lists two loans to First Brands Group, LLC: a first-lien senior secured loan at 10.57% (\"S + CSA + 5.00%\") maturing March 30, 2027, with principal of 8,695,953 and fair value of 8,719,867, and a second-lien senior secured loan at 14.07% (\"S + CSA + 8.50%\") maturing March 24, 2028, with principal of 3,000,000 and fair value of 2,977,500. A payment date report as of July 8, 2026 for BlackRock European CLO III DAC, whose collateral manager is BlackRock Investment Management (UK) Limited, lists among its holdings \"First Brands Group LLC - 2023 Euro Incremental Term loan\" (LoanX ID LX218476), a euro tranche of the company's term loans; the amount of the holding cannot be read reliably from the retained copy of the report's tables.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-024", "src-064" ], "entity_ids": [ "palmer-square", "fbg", "blackrock-clo" ] }, { "id": "display-claim-539e1bca22b9ed544179c7a3", "kind": "analysis", "text": "A press report in October 2025 said that Marathon Asset Management held over $280 million of First Brands debt, citing a filing that is not in the retained record, and listed Monroe Capital, Antares Capital, Sagard, Värde Partners, Sycamore Tree Capital Partners and Alcentra, a Franklin Templeton affiliate, among other private credit firms holding the company's debt, without giving amounts for them. The report said the largest private-credit exposures appeared to be through collateralised loan obligations.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-036" ], "entity_ids": [ "marathon", "monroe", "antares", "sagard", "varde", "sycamore-tree", "alcentra", "fbg" ] }, { "id": "display-claim-b0afe4a5df6e56329179d5f5", "kind": "analysis", "text": "Alongside the funded debt of the FBG debtors, the first-day declaration describes special purpose vehicles (SPVs), the \"SPV Debtors\", that took part in lease, inventory and equipment financings recorded off the group's balance sheet. The obligors are subsidiaries of Viceroy Private Capital, LLC and Carnaby Capital Holdings, LLC, not subsidiaries of First Brands Group, LLC, and they are not obligors under the term loans or the asset-based (ABL) facility. In these programs an SPV borrower buys or exchanges inventory or raw materials from other debtor subsidiaries, uses that inventory as a borrowing base to obtain loans and may sell the finished inventory back to other debtors or to third parties.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "viceroy", "carnaby-holdings", "fbg" ] }, { "id": "display-claim-7b7eac36868b4efc95d04776", "kind": "analysis", "text": "On March 28, 2024 Broad Street Financial, LLC entered into a credit agreement with Aequum Capital Financial II, LLC as administrative and collateral agent for a $45 million asset-based revolving facility; Broad Street could buy inventory such as brake parts, electronics, steering components, calipers, pumps and motors directly from First Brands Group, LLC and its subsidiaries and borrow against it, held about $66 million of inventory as of July 31, 2025, and was guaranteed by Broad Street Financial Holdings, LLC, with liens on all assets of both companies. Inventory sold back to the debtors had to be bought by Viceroy Private Capital, LLC if no other debtor bought it.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "broad-street", "aequum", "fbg", "viceroy", "broad-street-holdings" ] }, { "id": "display-claim-b7c898b628d93f1c18adc42d", "kind": "analysis", "text": "On December 2, 2024 Global Assets LLC and Global Assets GmbH, a German limited liability company affiliated with the debtors, entered into a credit agreement with UMB Bank, N.A. as administrative and collateral agent for another $45 million asset-based revolving facility, using finished parts, raw materials and semi-finished products bought from certain debtors as the borrowing base; they held about $68 million of inventory as of July 31, 2025, and Carnaby Capital Holdings, LLC guaranteed their obligations; here too, Viceroy Private Capital, LLC had to buy inventory sold back if no other debtor bought it. About $77.8 million of principal was outstanding under the Broad Street and Global Assets facilities together at the petition date.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "global-assets-llc", "global-assets-gmbh", "umb-bank", "viceroy", "carnaby-holdings" ] }, { "id": "display-claim-8d2f66147cc6263ec9697b74", "kind": "analysis", "text": "The two \"CarVal\" facilities date from 2022. On May 31, 2022 Carnaby Inventory II, LLC entered into a $60 million asset-based revolving facility with GLAS Trust Company LLC as administrative agent; it could buy manufactured inventory such as brake parts, or raw materials, from the debtors and could engage debtor subsidiaries that have contracts with maquiladora manufacturers to produce inventory for it. On July 6, 2022 Carnaby Inventory III, LLC entered into a $100 million facility with the same agent on the same model. As of August 2, 2025 the two borrowers held about $116 million and about $133 million of inventory. First Brands Group Holdings, LLC guaranteed both, together with Carnaby Inventory Holdings II, LLC and Carnaby Inventory Holdings III, LLC respectively, and about $159.0 million of principal was outstanding under the two CarVal facilities at the petition date.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "carnaby-ii", "glas-trust", "fbgh", "carnaby-iii" ] }, { "id": "display-claim-de204a5ff461566edf3cccba", "kind": "analysis", "text": "Evolution Credit Opportunity Master Fund II-B, L.P. provided two uncommitted inventory finance facilities of up to $150 million each: to Patterson Inventory, LLC under an agreement of November 9, 2023, and to Starlight Inventory I, LLC under an agreement of March 28, 2024, each guaranteed by its holding company and secured by a pledge of its equity and liens on its assets. The borrowers could buy eligible inventory from First Brands Group, LLC and its subsidiaries and borrow against it; they held about $376 million of inventory as of August 2, 2025, and about $230 million of principal was outstanding at the petition date. The first-day declaration added that Evolution's inventory may have been commingled with the inventory of the FBG debtors before the petition date and that the Special Committee would review the issue.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "evolution-fund", "patterson", "starlight", "fbg" ] }, { "id": "display-claim-adaff670e00e1fa94077b713", "kind": "analysis", "text": "Onset Financial, Inc. financed the group through two master leases. Carnaby Inventory IV, LLC entered into Master Lease Agreement No. OFI1445416 on June 28, 2022, guaranteed by First Brands Group Holdings, LLC, Viceroy Private Capital, LLC, Carnaby Capital Holdings, LLC, Carnaby Capital, LLC and Carnaby Inventory Holdings IV, LLC. Carnaby FA, LLC entered into Master Lease Agreement No. OFI1545465 on October 24, 2023, guaranteed by Carnaby Capital Holdings, Viceroy, First Brands Group Holdings, Carnaby Capital, Carnaby FA Holdings, LLC, Eagle Casting Holdings, LLC and Eagle Casting, LLC; the first-day declaration notes that Eagle Casting, LLC also guarantees the senior credit facilities.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "carnaby-iv", "carnaby-fa", "onset", "fbgh", "viceroy", "carnaby-holdings" ] }, { "id": "display-claim-618a21566b4a1ac3d223b3c4", "kind": "analysis", "text": "Under the master leases Onset lends funds to Carnaby Inventory IV, LLC to acquire inventory or equipment from First Brands Group, LLC on Onset's behalf; the inventory is then leased back to Carnaby IV and may ultimately be repurchased by First Brands. The debtors stated that they believe the master leases may not be true leases and reserved their rights to have them recharacterised as financings. Including interest, fees and forbearance fees, about $1.9 billion was outstanding under the master leases and related forbearances at the petition date.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "onset", "carnaby-iv", "fbg" ] }, { "id": "display-claim-06cf41fd3ebbf012c04f8039", "kind": "analysis", "text": "In 2025 the lessees fell behind. On May 1, 2025, after failing to make monthly payments of about $208 million due that day, Carnaby Inventory IV and Carnaby FA entered into a first forbearance agreement with Onset that extended the deadline to May 30, 2025 in exchange for late and forbearance fees of about $35 million. When they also missed June payments of $198.5 million, a second forbearance on June 1, 2025 extended the deadlines to June 27 and July 27, 2025 for fees of about $73.5 million and an additional monthly payment of about $223 million.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "carnaby-iv", "carnaby-fa", "onset" ] }, { "id": "display-claim-ca719dad03299f47744659ea", "kind": "analysis", "text": "A third forbearance of June 30, 2025 restructured the Onset payment schedules to total payments of $1.9 billion, about $380 million more than was due before the first forbearance: $20 million by July 3, 2025 (paid), $570 million on August 29, 2025, monthly payments through August 20, 2026 and a $645 million balloon payment on August 31, 2026. In connection with it, Viceroy Private Capital, LLC pledged 15% of its membership interests in First Brands Group Holdings, LLC to Onset. After the $570 million payment was missed, Onset delivered a notice of default and acceleration on September 9, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "onset", "viceroy", "fbgh", "carnaby-iv", "carnaby-fa" ] }, { "id": "display-claim-cee614d94b800b2d94dd4d45", "kind": "analysis", "text": "On September 22, 2025 Evolution Credit Opportunity Master Fund II-B, L.P. notified the debtors of a claimed default under the facility of Starlight Inventory I, LLC for failure to pay about $110 million of principal and $7.8 million of accrued interest, and separately claimed that about $4.7 million due on purchased receivables had not been paid. The first-day declaration adds that the company's advisers had recently become aware that inventory subject to Evolution's security interest may have been commingled with collateral securing the ABL facility, a dispute placed under the Special Committee's investigation.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "evolution-fund", "starlight", "fbg" ] }, { "id": "display-claim-f5ea5c621be103df3944e1fa", "kind": "analysis", "text": "On September 24, 2025 thirteen SPV debtors filed Chapter 11 petitions in the U.S. Bankruptcy Court for the Southern District of Texas, among them Global Assets LLC, Carnaby Capital Holdings, LLC, Broad Street Financial, LLC, Broad Street Financial Holdings, LLC, Carnaby Inventory II, LLC, Carnaby Inventory III, LLC, Patterson Inventory, LLC and Starlight Inventory I, LLC. The first-day declaration calls the filings a protective measure, because certain inventory financing lenders could otherwise have exercised remedies, in some cases proxy rights or foreclosure, before forbearances could be obtained.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-002" ], "entity_ids": [ "global-assets-llc", "carnaby-holdings", "broad-street", "broad-street-holdings", "carnaby-ii", "carnaby-iii", "patterson", "starlight" ] }, { "id": "display-claim-5d91ca3da96ebe95aab68a1f", "kind": "analysis", "text": "Some SPV lenders contested the filings. Secured lenders of Broad Street Financial, LLC and of Carnaby Inventory II and III moved to dismiss those SPVs' Chapter 11 cases, the Carnaby lenders on October 30, 2025 and the Aequum lenders on November 10, 2025, alleging that on the eve of bankruptcy First Brands had replaced the SPVs' independent managers with managers who also sat on the parent companies' boards and who then approved the filings, which the lenders called unauthorized and in bad faith. The debtors and the Official Committee of Unsecured Creditors opposed dismissal, arguing that the operating agreements had been properly amended before the petition and that the SPVs were operationally integrated into the First Brands enterprise. These positions are summarised in a law-firm client alert of January 2026; a hearing on the Carnaby lenders' motion was scheduled for January 9, 2026, and no ruling on the motions was found in the retained record.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-028", "src-074" ], "entity_ids": [ "broad-street", "carnaby-ii", "carnaby-iii", "fbg", "aequum" ] }, { "id": "display-claim-9903c59c5fa8e5789779515d", "kind": "analysis", "text": "In their verified adversary complaint of November 3, 2025 against Patrick James, the Patrick James Trust and affiliated companies (Adv. Pro. 25-03803), the debtors allege that, under James's leadership and direction, inventory purportedly transferred by First Brands subsidiaries to SPV debtors under the Evolution and Onset facilities stayed on the subsidiaries' balance sheets and in the borrowing base of the First Brands credit facilities, including the ABL facility, so that the same inventory supported loans both to the subsidiaries and to the SPVs. The complaint says Evolution lent about $240 million to an SPV debtor against what First Brands represented as $370 million of inventory, that First Brands kept the inventory without paying the SPV, and that by the end of September 2025 few if any assets remained in the SPV. None of this has been adjudicated. In a motion to dismiss filed on December 15, 2025 the defendants argued that the complaint does not connect Patrick James to any alleged double-pledging of collateral, and a spokesperson for James said James continues to deny the \"baseless accusations\". The bankruptcy court later granted a motion of the United States to intervene and stayed discovery in the adversary proceeding pending the parallel criminal case; on May 29, 2026 the district court dismissed James's appeal of that order for lack of jurisdiction.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-026", "src-054", "src-069" ], "entity_ids": [ "patrick-james", "fbg", "evolution-fund", "onset" ] }, { "id": "display-claim-a1627f6c63fe95bfab10e6ad", "kind": "analysis", "text": "The same complaint alleges that cash from Onset was transferred to a non-debtor entity controlled by Patrick James known as \"Bowery Finance II\" instead of to the FBG subsidiaries entitled to it under the transaction documents, that inadequate books and records were kept for the SPV debtors and that their cash was frequently commingled with that of non-debtor entities. It describes the Bowery Finance II account as a \"slush fund\" through which nearly $12 billion flowed from 2022 through 2025, including transfers between Patrick James, the Patrick James Trust and James's affiliated entities. These allegations are also unadjudicated: the defendants' December 15, 2025 motion to dismiss argued that the complaint does not tie Patrick James to any alleged double-pledging, James's spokesperson denied the \"baseless accusations\", and the discovery stay that followed the intervention of the United States remained after the district court dismissed James's appeal on May 29, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-026", "src-054", "src-069" ], "entity_ids": [ "bowery-finance", "patrick-james", "onset", "pj-trust" ] }, { "id": "display-claim-692dff056de72cf0513924bd", "kind": "analysis", "text": "In a declaration of January 11, 2026 in the dispute with Evolution, as reported in the press, co-chief restructuring officer Daniel Jerneycic said the recorded value of the initial inventory purchases by Patterson Inventory, LLC and Starlight Inventory I, LLC from First Brands appeared overstated by about $140 million, that the expected resales and replacement purchases did not appear to have occurred, and that borrowing base certificates presented to Evolution did not reflect actual business activity. Jerneycic said invoices were issued to Brake Parts Inc by an entity controlled by Patrick James, and that funds paid to the SPVs were round-tripped back to Brake Parts Inc through another James-controlled entity, apparently solely to generate bank-statement activity for Evolution. These statements of the debtors' restructuring officer were not adjudicated; a spokesperson for Patrick James said James \"has always acted ethically and continues to deny the baseless accusations against him\".", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-054" ], "entity_ids": [ "daniel-jerneycic", "patterson", "starlight", "fbg", "evolution-cp", "brake-parts-inc", "patrick-james" ] }, { "id": "display-claim-2b7316bfbd2a9d92a271647f", "kind": "analysis", "text": "In a report filed with the bankruptcy court in July 2026 in support of the proposed liquidating plan, as reported in the press, the debtors' expert Marc S. Kirschner called the SPV facilities structurally unworkable. In Kirschner's account the SPVs had no employees, assets or inventory of their own, held no board meetings, adopted no resolutions and relied on First Brands and other Patrick James entities to pay their bills, while First Brands employees performed their functions. Kirschner said there was a good-faith basis to believe the SPVs were insolvent from their inception, that their debts exceeded $200 million a month in 2025 and were repaid with further SPV, factoring and supply-chain financing, and that SPV lenders knew or should have known of the scheme. These are the opinions of an expert retained by the debtors and were not adjudicated; Patrick James has denied allegations of fraud, and in August 2026 the bankruptcy court found the plan, which relied on these litigation claims, not feasible and ordered the cases into Chapter 7 liquidation.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-085", "src-070" ], "entity_ids": [ "fbg", "patrick-james" ] }, { "id": "display-claim-013da18413e60ed945c34c41", "kind": "analysis", "text": "The same July 2026 report, as reported in the press, says $12 billion was funneled from 2022 to 2025 through the Bowery account controlled by Patrick James, which was used to commingle funds and facilitate transfers to many Patrick James entities. According to Kirschner, proceeds that flowed into the SPVs were promptly transferred out, commingled and disbursed to affiliates or creditors; the ledgers of Carnaby Inventory II and III showed inventory reduced monthly for cash received from Patrick James entities to service the CarVal lenders rather than recorded purchases and sales; and the FBG debtors appear to have recycled funds from SPV lenders to pay pre-existing creditors, including other SPV lenders. Like the rest of the debtors' expert report, filed in support of the plan, these opinions were not adjudicated, Patrick James has denied allegations of fraud, and the court's August 2026 finding that the plan was not feasible sent the cases into Chapter 7 liquidation.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-085", "src-070" ], "entity_ids": [ "bowery-finance", "patrick-james", "carnaby-ii", "carnaby-iii" ] }, { "id": "display-claim-b862fbb11ea0c768702b83ae", "kind": "analysis", "text": "On Onset, Kirschner's report says Onset lent more than $2 billion through Carnaby FA, LLC under a structure in which the SPV bought inventory or equipment from a First Brands company, sold it to Onset and leased it back, and that the facility could not operate as papered because the SPV had to buy inventory, replace inventory sold and service debt to Onset at interest rates of up to about 200%. Kirschner said Onset should have known this was impossible, citing late-filed financing statements after pushback from Edward James, Edward James's insistence on being the only person to communicate with Onset and Edward James's role as an investor alongside Onset in the SPV deals, and said the triple-digit rates would be substantial evidence that the transactions were made for inadequate consideration. These unadjudicated expert opinions were filed in July 2026 in support of the plan, which the court found not feasible in August 2026 before ordering the cases into Chapter 7 liquidation. Onset has denied wrongdoing, saying it is a victim that did business in good faith with First Brands and blaming the James brothers for the collapse; no response by Edward James to these statements was found in the retained record, and in the criminal case Edward James pleaded not guilty on February 4, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-085", "src-084", "src-066", "src-070" ], "entity_ids": [ "onset", "carnaby-fa", "edward-james" ] }, { "id": "display-claim-74dbb517d8fb21830fa651dc", "kind": "analysis", "text": "The indictment in United States v. Patrick James and Edward James, 26 Cr. 29 (S.D.N.Y.), unsealed on January 29, 2026, alleges that the off-balance-sheet debt principally related to inventory-financing arrangements of entities wholly owned and controlled by Patrick James (the \"James Entities\"), which were nominally separate from First Brands but had no independent business operations. Through them, it alleges, at least three inventory financers advanced funds to buy First Brands inventory that was pledged back to them, or entered sale-leaseback transactions; the arrangements were directed by Patrick James, negotiated by Edward James and kept off First Brands' financial statements, and loan proceeds were routed through a customer-collections entity outside the corporate structure so that they appeared to be ordinary customer receipts. The charges are accusations and the defendants are presumed innocent unless proven guilty. On February 4, 2026 Patrick James pleaded not guilty to all nine counts and Edward James to counts two through nine; trial was set for February 9, 2027.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-005", "src-008", "src-066" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ] }, { "id": "display-claim-566b58c5586dd90953361b03", "kind": "analysis", "text": "The same indictment, unsealed on January 29, 2026 in 26 Cr. 29 (S.D.N.Y.), further alleges that in July 2025, in response to high-priority lender diligence requests and at the direction of Patrick James, a senior First Brands executive falsely represented that the company had \"no off-balance sheet financing\" involving \"special purpose entities\" and that all related-party relationships were disclosed, when about $2 billion of undisclosed off-balance-sheet debt had been incurred through the James Entities. It also alleges that the James Entities pledged inventory said to be unencumbered that was already pledged to First Brands' senior lenders, that falsified inventory schedules were supplied to the off-balance-sheet lenders, and that bank transfers were structured at Edward James's direction to mimic purchases and resales of inventory. These allegations, too, are accusations under the presumption of innocence; both brothers pleaded not guilty on February 4, 2026 (Patrick James to all nine counts, Edward James to counts two through nine), with trial set for February 9, 2027.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-008", "src-005", "src-066" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ] }, { "id": "display-claim-676e3b3b0dbcbb69b345f7c6", "kind": "analysis", "text": "Onset gives the opposite account of its role. In a motion to dismiss the debtors' suit, reported in March 2026, Onset said it had funded nearly $3 billion to First Brands from 2018 to 2025, secured by inventory and equipment, and that it was still owed at least $2.17 billion at the Chapter 11 filing; the motion said Onset and its funding partners, like other lenders, had been deceived by falsified inventory schedules, fake account documentation and collateral that was often double- or triple-pledged to different lenders. Onset has publicly denied wrongdoing and called itself a victim of the James brothers. This is Onset's own account in pending litigation: the debtors' suit against Onset alleges the opposite, and the claims had not been adjudicated.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-121", "src-084" ], "entity_ids": [ "onset", "fbg" ] }, { "id": "display-claim-4b500adcd1d03b50d4a407c6", "kind": "analysis", "text": "Patrick James and the other defendants in the estate's suit blamed the lenders instead. Their December 15, 2025 motion to dismiss argued that off-balance-sheet lenders, Onset Financial in particular, charged onerous fees; that Onset, which contends its claim totals $1.9 billion, holds a guaranty from Viceroy Private Capital, LLC that is inconsistent with its claim to be an equipment lender and \"more consistent with a commercial payday loan\"; and that these lenders' \"predatory practices\" drove the company into default in the weeks before the Chapter 11 filing. These are arguments in a motion to dismiss, not findings of the court.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026" ], "entity_ids": [ "patrick-james", "onset", "viceroy", "fbg" ] }, { "id": "display-claim-062775412f07c5ad1cd7e374", "kind": "analysis", "text": "Evolution's collateral was disputed in the bankruptcy. After the September 2025 filing, an agreed court order entered that November allowed the Patterson and Starlight SPVs to keep selling inventory provided they held at least $335 million of collateral at certain locations. In December Evolution filed an emergency motion alleging a shortfall of about $44 million, which First Brands disputed on the ground that enough inventory was held elsewhere; at a January 13, 2026 hearing Judge Christopher Lopez said the order's plain language did not specify those locations but that more evidence was needed. In a January 12, 2026 filing Bank of America, as administrative and collateral agent for asset-based lenders, argued that Evolution had not proved a valid first-priority lien because the inventory was already subject to its lenders' liens before First Brands sold it to the SPVs. When these competing positions were reported in January 2026 the court had not decided lien priority. In April 2026 the Patterson and Starlight cases were converted to Chapter 7 under a settlement for which the debtors sought emergency approval on April 8, 2026; no ruling on the alleged shortfall or on lien priority was found in the retained records.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-074", "src-054", "src-001" ], "entity_ids": [ "patterson", "starlight", "evolution-cp", "fbg", "bank-of-america" ] }, { "id": "display-claim-44e54c9ccd8f811a03740418", "kind": "analysis", "text": "Evolution itself had pressed for that step. In a motion reported on March 12, 2026, it asked the court to move the brake-parts business lines covered by its special financing from Chapter 11 into Chapter 7, saying the borrowers owed about $230 million of principal and had no revenue-generating operations and that no prospect of reorganization existed. The settlement filed on April 8, 2026 allowed the Evolution SPV debtors' cases to be converted, and Patterson Inventory, Patterson Inventory Holdings, Starlight Inventory I and Starlight Inventory Holdings I were converted to Chapter 7 in April 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-121", "src-074" ], "entity_ids": [ "evolution-cp", "patterson", "starlight", "fbg" ] }, { "id": "display-claim-6089a91e51d55edd01ae985a", "kind": "analysis", "text": "In an adversary suit brought by Bank of America against Aequum, Judge Christopher Lopez ruled in June 2026, as reported, that Aequum could sell inventory in its possession but could not spend the $18 million of proceeds until the court decided who owned the collateral stored in a Cardone warehouse in Arlington, Texas. The judge said Aequum's funds had gone not to First Brands for the collateral but to Bowery Finance, a company owned by former chief executive Patrick James and not part of First Brands, and that there was no evidence in Cardone's or First Brands' books that Broad Street Financial, LLC had bought the collateral, so earlier liens appeared to remain in place. The judge also said both Bank of America and Aequum appeared to have extended credit in good faith and may both have been deceived, and said the oral ruling did not decide who owns the inventory or whether a transfer occurred, which were left for trial.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-072" ], "entity_ids": [ "bank-of-america", "aequum", "cardone", "bowery-finance", "patrick-james", "broad-street", "fbg" ] }, { "id": "display-claim-713e53446a8d38a48693c793", "kind": "analysis", "text": "UMB Bank, as administrative agent for lenders to a $45 million credit facility tied to the group's off-balance-sheet special purpose entities, filed an emergency motion asserting that First Brands' advisers had abandoned more than $55 million of special purpose entity property and were routing debtor-in-possession financing to the group's Ultinon lighting business at the expense of other secured lenders; according to the same published summary of court filings, the inventory financing of the special purpose entities was backed in part by Ultinon inventory. These are UMB Bank's assertions, and no ruling on the motion was found in the retained record.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-104" ], "entity_ids": [ "umb-bank", "fbg" ] }, { "id": "display-claim-a7a894dc64e678213da232c9", "kind": "analysis", "text": "An October 2025 press report, citing Fitch Ratings, said First Brands' troubles appeared to stem from billions of dollars of off-balance-sheet financing, including receivables factoring and inventory reverse-factoring, and named Pemberton Asset Management, Evolution Credit Partners and Aequum Capital among the private credit firms exposed through such structures; the report gave no exposure amounts.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-036" ], "entity_ids": [ "pemberton", "evolution-cp", "fbg" ] }, { "id": "display-claim-f75d50f73a8b6e5ac9832ade", "kind": "analysis", "text": "The debtors' first-day declaration (Docket No. 22 in case 25-90399) describes two kinds of receivables factoring. Under Customer Factoring, First Brands sold receivables owed by large retail customers, which had payment terms of up to 365 days, to financial institutions that partnered with those customers; it was paid in the near term, often within 30 days, and the customer could later pay the institution directly. Under Third-Party Factoring, it sold receivables to unaffiliated factors that paid it in the near term, sometimes within seven days, in exchange for a payment about 105 days later that First Brands itself, not the customer, had to make to the factor.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "fbg" ] }, { "id": "display-claim-368b83e376b76f6a9f4c191a", "kind": "analysis", "text": "In practice First Brands kept servicing the receivables it had sold to Third-Party Factors: according to the debtors' December 1, 2025 motion for factoring procedures (Docket No. 807), the customer paid First Brands when a receivable fell due and First Brands then passed the amount to the factor. After diligence by the company's advisers, the debtors believed that an unpaid prepetition balance of about $2.3 billion had accrued under these arrangements by the petition date. The Special Committee was investigating whether receivables had been turned over to the factors when received and whether some had been factored more than once, and the debtors said they would segregate funds received on receivables factored before the petition. Testifying on November 10, 2025, interim chief executive Charles Moore said the parties receiving these payments were third-party factors rather than lenders, that in a normal factoring arrangement they would not be creditors of the company, and that this was one of the red flags.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026", "src-074", "src-001", "src-098" ], "entity_ids": [ "fbg", "charles-moore" ] }, { "id": "display-claim-c0dbef648e21a93c69e092f8", "kind": "analysis", "text": "Lawyers for Patrick James argued, in a December 2025 motion to dismiss and a later petition against Jefferies in New York, that because First Brands kept servicing the receivables the factors in substance became lenders extending unsecured loans at high interest rates, for example in the mid-teens; the December filing also noted the debtors' announcement of December 1, 2025 that possibly $150 million relating to certain supposed Third-Party Factoring was being retained by customers. The debtors' side described the counterparties as purchasers of receivables rather than lenders, and no court has ruled on the characterisation in the retained record. The New York petition also quoted a press report that Raistone's chief executive had told a trade-finance conference that a lot of people had made a lot of money over many years on First Brands, and used the remark to argue that financiers earned high yields; the remark does not establish any party's knowledge of irregularities.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-049", "src-026" ], "entity_ids": [ "patrick-james", "fbg", "raistone" ] }, { "id": "display-claim-917b493b618f20bc79a85485", "kind": "analysis", "text": "The consolidated list of the 30 largest unsecured creditors filed with the Chapter 11 petition is headed by supply-chain-finance claims: HFS ($233,707,424.12), Trade Finance Company ($208,261,460.18) and 1977 O'Connor ($116,072,544.90), each listing a Raistone sales director as its contact, followed by The CIT Group ($84,370,311.72). Further supply-chain-finance creditors on the list include Napier, Wafra, Pemberton Capital Advisors, IVY, Fasanara, Southstate Bank, Orbian Management and Nomura; most of the remaining entries are trade payables owed to suppliers. The same list names four factoring counterparties with contingent, unliquidated and disputed claims in undetermined amounts: Evolution Credit Partners, Katsumi Global, LLC and Leucadia Asset Management – Trade Finance Group (Jefferies) under factoring agreements, and Raistone under factoring agreements and supply chain finance.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002" ], "entity_ids": [ "fbg", "raistone", "cit-group", "southstate", "evolution-cp", "katsumi", "leucadia" ] }, { "id": "display-claim-91c0b57a379a9dfe03ee01d3", "kind": "analysis", "text": "The bankruptcy docket shows a wider circle of financiers appearing as creditors: Raistone Capital and two Raistone Purchasing series, Evolution Credit Partners, Katsumi Servicing, FactoFrance, ING Belgium, Mitsubishi HC Capital America, Arab Banking Corporation, Onset Financial, equipment and vehicle financiers, STORE Capital entities and the Pension Benefit Guaranty Corporation, as well as banks and lenders including Bank of America, UMB Bank, Wilmington Savings Fund Society, U.S. Bank, Truist Bank, First Guaranty Bank, Planters Bank, Napier Park Global Capital and Silver Point Capital. The docket also lists the Official Committee of Unsecured Creditors, an Ad Hoc Group of Lenders, Aequum Capital Financial II as an interested party, Martin De Luca as examiner and BDO USA, P.C. as auditor.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-040" ], "entity_ids": [ "fbg", "raistone", "evolution-cp", "factofrance", "ing-belgium", "mitsubishi-hc", "onset", "store-capital", "bdo", "bank-of-america", "umb-bank", "wsfs", "us-bank", "truist", "planters-bank", "napier-park", "silver-point", "aequum" ] }, { "id": "display-claim-33234db4c3ab6fecad7140e4", "kind": "analysis", "text": "A press investigation based on documents and interviews reported that O'Connor, the Chicago-based hedge fund unit of UBS, bought a stake in Raistone, the technology platform that provided supply chain financing to First Brands, and also invested directly in First Brands' invoices, as did a joint venture of Mitsui & Co. and Norinchukin Bank. According to the same report, Raistone and Jefferies' Point Bonita fund said before the bankruptcy that the risk lay mainly with the blue-chip customers named on the invoices, but revealed afterwards that they had never received funds from those customers directly: the money had come back to them through First Brands. These are press findings, not findings of a court.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-086" ], "entity_ids": [ "raistone", "point-bonita", "fbg" ] }, { "id": "display-claim-e0abc34c900e934924604f8d", "kind": "analysis", "text": "On October 8, 2025 Raistone, which had worked on financing deals for First Brands, asked the bankruptcy court to appoint an independent examiner, alleging that as much as $2.3 billion had \"simply vanished\" and calling the board's own investigation woefully insufficient, according to press reports of the motion. In support it filed an October 2, 2025 email exchange in which a restructuring lawyer for First Brands at Weil, Gotshal & Manges, asked whether First Brands had actually received an estimated $1.9 billion and how much was in the segregated accounts for factored receivables, answered \"We don't know\" and \"$0\". First Brands had said that an independent board committee was investigating its use of off-balance-sheet financing. The U.S. Trustee also sought an examiner on October 15, 2025, and on November 19, 2025 the court ordered the appointment of one.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-073", "src-074" ], "entity_ids": [ "raistone", "fbg", "weil" ] }, { "id": "display-claim-f2b9a5dc4edc9411b61edf22", "kind": "analysis", "text": "Katsumi Global, LLC, described in press reports as a joint venture of Norinchukin Bank and the Japanese trading house Mitsui & Co., said through a lawyer in October 2025 that it had $1.75 billion of exposure to First Brands. The estate's adversary complaint of November 3, 2025 gives an example of an altered invoice: on May 9, 2025 Brake Parts Inc. LLC sold automotive parts to General Motors for $179.84, and on May 19, 2025 the same invoice, among thousands of others, appeared at $9,271.25 on a list nominated for factoring to Katsumi (doing business as Ja Mitsui Capital America). According to the complaint, Katsumi paid about $11.18 million for a package of invoices worth only about $2.3 million, an allegation interim chief executive Charles Moore repeated in a November 2025 court filing. These allegations have not been adjudicated. Patrick James's motion to dismiss of December 15, 2025 argues that the complaint does not connect James to the factoring and cites hearing testimony that some invoices in the nomination packets were unchanged or lower and that a Katsumi representative had updated the schedule Moore testified about; James's lawyers also said the debtors' advisers gave a one-sided account of the transactions.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-026", "src-092" ], "entity_ids": [ "fbg", "brake-parts-inc", "katsumi", "patrick-james", "charles-moore" ] }, { "id": "display-claim-ef87d1c3ec809cc1c31ed122", "kind": "analysis", "text": "In a July 2026 declaration supporting the debtors' liquidation plan, their expert Marc Kirschner said that Katsumi bought $4.9 billion of factored invoices from First Brands starting in 2023, that a Katsumi audit in September 2023 found purchased receivables that were falsified, fabricated and inflated, in some cases by up to 180,000%, and that Katsumi told First Brands of the discrepancies but kept financing its receivables for two more years and sought to resell them. Kirschner said Katsumi was owed over $1.7 billion at the collapse and argued that it knew or should have known it was being paid on at least partly fraudulent invoices. This was a retained expert's litigation assessment, which objectors said rested on selected fragments of information, and no claim against Katsumi has been adjudicated. Katsumi opposed the plan with other creditors, and on August 24, 2026 the court denied confirmation as not feasible without assessing the merits of the expert's arguments.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-070", "src-085" ], "entity_ids": [ "katsumi", "fbg" ] }, { "id": "display-claim-d98b94102196413b4d85b63d", "kind": "analysis", "text": "Jefferies said that its Point Bonita trade-finance fund bought around $715 million of uncollected First Brands invoices. A press report quoted in Patrick James's motion to dismiss said that Leucadia, Jefferies' asset-management arm, had been buying First Brands' expected payments from retailers since 2019, had become one of its biggest financiers and received near-daily payments from First Brands for years as customers paid the invoices Point Bonita held; prosecutors later alleged that many of the invoices were faked or inflated. A petition by Patrick James and related companies to enforce a subpoena against Jefferies Financial Group in the Southern District of New York states that Jefferies also owns Leucadia Asset Management, Point Bonita Capital and three LAM Trade Finance Group entities. Jefferies' own description is narrower: its letter of October 12, 2025 calls Point Bonita a fund in which Jefferies is a 5.9% investor, with Leucadia Asset Management communicating with the fund's investors.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-012", "src-026", "src-049", "src-027" ], "entity_ids": [ "jefferies-fg", "point-bonita", "leucadia", "fbg", "patrick-james", "lam-tfg", "lam-tfg-i", "lam-tfg-ii" ] }, { "id": "display-claim-d3dc740bedd7244f413ce67f", "kind": "analysis", "text": "In that published letter, Jefferies' chief executive and president said that First Brands sold receivables to Point Bonita under a Master Receivables Purchase Agreement with a fee letter, that the agreement had been listed for years on the schedules to First Brands' credit agreement with all its first-lien and second-lien lenders, that the fees went to the fund's investors, and that outside counsel for First Brands had opined they did not breach the credit agreement. Jefferies put its own investments at $43 million, or 5.9%, of Point Bonita's receivables purchased from First Brands, plus a $2 million interest in First Brands' bank loans through Jefferies Finance's Apex platform. It said nobody at Jefferies was aware of fraudulent activity at First Brands and that it learned of the fraud allegations when the public did, after First Brands stopped remitting to Point Bonita the cash collected on receivables the fund owned; Leucadia Asset Management had agreed with the fund's investors that they should redeem effective December 31, 2025, through four quarterly payments ending in October 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-027" ], "entity_ids": [ "jefferies-fg", "point-bonita", "fbg", "jefferies-finance", "leucadia" ] }, { "id": "display-claim-ec0f615a6ffb08681eda8a19", "kind": "analysis", "text": "In the bankruptcy, Leucadia Asset Management and its affiliated LAM Parties objected to the debtors' factoring procedures motion (Docket No. 1049), saying the debtors had admitted a massive fraud on them and other Third-Party Factors by acknowledging that many receivables sold were fake or inflated, so that hundreds of millions of dollars were taken from LAM alone and billions from the factors in total. That is a creditor's characterisation: the debtors' first-day declaration describes the factoring practices as under investigation, and Patrick James's counsel said Jefferies and its affiliates had not provided evidence for the allegations. On December 31, 2025 the court authorised a release of funds and adjourned the remaining factoring-procedures matters.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-049", "src-074" ], "entity_ids": [ "leucadia", "fbg" ] }, { "id": "display-claim-e9ef7964dfbd48ec00478905", "kind": "analysis", "text": "The debtors' expert Marc Kirschner said in July 2026 that Leucadia Asset Management became suspicious of First Brands in 2023, sending questions about receivables and financing and asking for a call and an on-site visit with then chief financial officer Stephen Graham, a request Kirschner said was met with threats from Edward James; Kirschner argued that Leucadia should have been aware of potentially fraudulent activity from 2023 onwards. This assessment has not been adjudicated. Jefferies had said in October 2025 that nobody at Jefferies was aware of fraudulent activity at First Brands, and Leucadia Asset Management opposed the debtors' plan, which the court rejected on August 24, 2026 without assessing the expert's arguments.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-085", "src-070", "src-027" ], "entity_ids": [ "leucadia", "fbg", "stephen-graham", "edward-james", "jefferies-fg" ] }, { "id": "display-claim-53b4481161707e8f723667c6", "kind": "analysis", "text": "Two further suits followed, both pending without a ruling in the retained record. In March 2026 Western Alliance said it was suing Jefferies Financial for not completing payment of $126.4 million owed on loans tied to First Brands and collateralised by receivables bought from First Brands. Jefferies replied that Western Alliance had not lent to Jefferies but had for over four years made non-recourse loans, without any Jefferies guarantee, to special purpose entities holding First Brands receivables, LAM Trade Finance Group and LAM TFG I SPV LLC, both owned by the Point Bonita master fund; it denied any obligation to repay and called the statement that it \"couldn't\" repay $126 million false and absurd. Separately, according to a March 2026 press report, investors in two British Virgin Islands funds sued over the Point Bonita fund, saying it had claimed cash dominion over receivables from First Brands while First Brands in fact kept control of them and may have used them to commit fraud; they sought $18.4 million in damages, and no response is recorded.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-121" ], "entity_ids": [ "jefferies-fg", "lam-tfg", "lam-tfg-i", "point-bonita", "fbg" ] }, { "id": "display-claim-e6f8e059a699a8353a83d6fd", "kind": "analysis", "text": "First Brands used the software platform of PrimeRevenue, a supply-chain-finance platform, in its financing arrangements, including by uploading receivables data to obtain finance from third-party lenders. In July 2026 the debtors' expert Marc Kirschner suggested litigation against PrimeRevenue, saying its employees had contacted First Brands in 2024 instructing it to check document properties before submitting files, which Kirschner argued showed PrimeRevenue knew the documents were written by First Brands employees rather than outside suppliers. The assessment has not been adjudicated; PrimeRevenue says the statements came from a third party who interviewed an employee, which a creditor's counsel called hearsay within hearsay. PrimeRevenue said the court did not consider any evidence about it in the plan ruling, that its platform connected the debtors with supply-chain-finance providers who paid each other directly without funds passing through PrimeRevenue, and that it is not a transferee of any potential fraudulent transfers.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-070", "src-071" ], "entity_ids": [ "primerevenue", "fbg" ] }, { "id": "display-claim-8281ed0c311e2155f6f2e2ed", "kind": "analysis", "text": "In early September 2026 PrimeRevenue, by its own account, asked the bankruptcy court to strike or seal the statements about it in the First Brands record, calling them scandalous and defamatory, saying they harmed its credibility with lending partners, that the interim chief executive and the debtors' counsel had not conducted reasonable diligence into its business, and that the declarations of Kirschner and Moore had been ruled inadmissible. As of September 9, 2026 the court had not ruled on the motion.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-071" ], "entity_ids": [ "primerevenue", "fbg", "charles-moore" ] }, { "id": "display-claim-c8713c79acca9dba1654e124", "kind": "analysis", "text": "The estate's adversary complaint of November 3, 2025 alleges that Patrick James caused First Brands to incur at least $2.3 billion of receivables-factoring liabilities based, at least in significant part, on non-existent or doctored invoices, and engaged in financing through special purpose vehicles that incurred at least another $2.3 billion of debt, including by double-pledging collateral. The allegations are not adjudicated, and James's motion to dismiss argues that the complaint does not connect James to the factoring or the double-pledging beyond conclusory statements. Ruling on a preliminary injunction on November 12, 2025, the bankruptcy judge said nothing showed that James personally was manipulating invoices, but that it was clear First Brands was moving tens of millions of dollars through unaffiliated accounts.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-026" ], "entity_ids": [ "patrick-james", "fbg" ] }, { "id": "display-claim-2c0613b6266a025d97c3bf6f", "kind": "analysis", "text": "The federal indictment of Patrick James and Edward James, unsealed on January 29, 2026, alleges that under their direction First Brands employees routinely submitted fake, inflated and double-pledged invoices to sell and pledge them to at least four factoring partners. It says one factor (\"Factor-1\") raised \"huge\" discrepancies in about 2023 and that the scheme continued, citing a June 2025 customer invoice of $8,976.24 sold to that factor at $17,826.26 and three days later to another factor at $463,734.92, and that third-party factors now hold about $2.7 billion of fake receivables. On the payables side, the indictment alleges that, at the direction and with the approval of both brothers, First Brands submitted fabricated supplier-invoice data through financers' online platforms and had the funds sent to a third-party bill processor instructed to return them to First Brands instead of paying suppliers; these \"round trips\" or \"corporate initiatives\" were tracked in daily cash management, while the consolidated financial statements reported only a fraction of supply-chain-financing liabilities exceeding $1 billion. These are accusations, and the defendants are presumed innocent: both pleaded not guilty on February 4, 2026, and trial was set for February 9, 2027.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-008", "src-005", "src-066" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ] }, { "id": "display-claim-1095e2ea20f44ab8130128dd", "kind": "analysis", "text": "Peter Andrew Brumbergs, a former senior vice president of finance, pleaded guilty in January 2026 to eight counts, including fraud and conspiracy, and was seeking leniency in exchange for cooperation. According to press reports of the plea hearing, Brumbergs acknowledged reporting false accounts-payable levels to supply-chain financiers, including banks, between 2020 and 2025, knowing that some supply invoices were false and that the financial statements given to these lenders did not truly represent the company's financial condition.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-012" ], "entity_ids": [ "peter-brumbergs", "fbg" ] }, { "id": "display-claim-8c742f7d44f4acbdc07f133c", "kind": "analysis", "text": "Evolution Credit Partners, which bought rights to First Brands customer receivables, asserts a first-lien security interest in about $60.5 million of them. First Brands argues that Evolution has no right to them because of significant irregularities in its earlier factoring practices, and says its forensic expert found that the $60.5 million claim does not match any valid invoice in its records. Payments on factored receivables collected after the petition went into a segregated Factored Receivables Account, which held between $105.9 million and $109 million when the debtors asked to spend $63 million of it. The bankruptcy court (Docket No. 1133) let them draw up to $60 million, leaving about $49 million; it did not rule definitively on Evolution's interest but said it was not convinced Evolution had priority over other creditors.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-098" ], "entity_ids": [ "fbg", "evolution-cp" ] }, { "id": "display-claim-219944119aec11c863d7b467", "kind": "analysis", "text": "Evolution appealed. On January 31, 2026 Senior U.S. District Judge Lee H. Rosenthal (Civil Action H-26-73) remanded the matter, holding that under section 363 a bankruptcy court may inquire into an asserted property interest only to see whether the creditor has a colourable claim, that the bankruptcy court had not ruled that Evolution lacked a security interest, that Evolution likely was not adequately protected when the cash use was allowed, and that new facts created a genuine dispute about its protection, to be litigated on remand together with its first-lien claim. On appeal the debtors represented that the account held over $67 million and that about $230 million of prepetition receivables were still owed to the estate, and agreed not to seek further releases before a February 19, 2026 hearing.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-098" ], "entity_ids": [ "fbg", "evolution-cp" ] }, { "id": "display-claim-d7e90f7142f8bcf8b77a990e", "kind": "analysis", "text": "In adversary proceeding 26-3006, brought by Evolution and related entities to establish a first-priority interest in the roughly $60.5 million of receivables, the bankruptcy court denied Evolution summary judgment and held that it does not have a perfected security interest in the non-purchased receivables with priority over the postpetition debtor-in-possession lenders, because the collateral description in its financing statements cannot reasonably be read to include them; fact issues on its priority over other prepetition secured lenders were left for trial. On July 27, 2026 Judge Rosenthal (Civil Action H-26-4705) denied leave to appeal and dismissed Evolution's appeal for lack of jurisdiction, because the order was not final and the dispute did not justify an interlocutory appeal.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-099" ], "entity_ids": [ "fbg", "evolution-cp" ] }, { "id": "display-claim-9202f189643e2101e0eae44b", "kind": "analysis", "text": "BDO USA, P.C. audited First Brands' financial statements from 2020. Testimony at the November 10, 2025 hearing in the estate's suit against Patrick James, quoted in James's motion to dismiss, states that from 2020 through on or around December 31, 2024 BDO provided an audit report for First Brands, and a docket summary of the bankruptcy case lists BDO USA, P.C. as auditor.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026", "src-040" ], "entity_ids": [ "bdo", "fbg" ] }, { "id": "display-claim-a8922238f5d7bec4a680329c", "kind": "analysis", "text": "The federal indictment alleges that Patrick James misled First Brands' outside auditors by repeatedly certifying that the company had no related-party arrangements, although James knew that First Brands had purportedly sold billions of dollars of inventory to entities wholly owned and controlled by James (the \"James Entities\") and that those entities had incurred billions of dollars of liabilities using First Brands' inventory as collateral. This is an allegation, not a proven fact: Patrick James pleaded not guilty to all nine counts on February 4, 2026 and is presumed innocent.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-008", "src-066" ], "entity_ids": [ "patrick-james", "fbg" ] }, { "id": "display-claim-c3ff61edef640a8617f25683", "kind": "analysis", "text": "The examiner's interim report of April 27, 2026 cites a former executive who said First Brands switched audit firms to BDO because it \"was viewed as less rigorous\" and had a process that let the business \"do what we want with these guys\", and says witnesses reported that BDO did not directly access underlying enterprise systems such as Oracle or consistently perform independent verification. These are witness statements in an interim report; the examiner said the investigation was incomplete and that more work was needed to determine whether the auditors complied with generally accepted auditing standards. BDO said the report did not include interviews with BDO personnel or a review of its files and \"reaches inappropriate and factually inaccurate conclusions about our audit work based on hearsay from individuals involved in the fraud\", and it reaffirmed that its audits were consistent with professional standards.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-060" ], "entity_ids": [ "bdo", "fbg" ] }, { "id": "display-claim-80da1a5ed101c5457cdf4c6b", "kind": "analysis", "text": "On April 29, 2026 funds managed by Black Diamond Capital Management, which said they relied on BDO's audits when buying about $70 million of First Brands' senior debt, sued BDO USA P.C. in an Ohio court of common pleas (Black Diamond Credit Strategies Master Fund et al. v. BDO USA P.C., No. cv-26-137992) for negligence, negligent and fraudulent misrepresentation and tortious interference with contract. They allege that the audits missed risk factors including First Brands' extensive use of factoring and hundreds of millions of dollars of transfers to the founder's personal trust. The suit is pending and the allegations are not adjudicated. A BDO spokesperson said on April 30 that the lawsuit lacks merit, that the independent report and the criminal indictments show the First Brands fraud was conducted to deceive BDO as its auditor, and that professional standards \"expressly contemplate the inability of an auditor to detect the kind of collusive fraud perpetrated by First Brands\".", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-060" ], "entity_ids": [ "bdo", "black-diamond", "fbg" ] }, { "id": "display-claim-17b0fb758db060c1e140ef5d", "kind": "analysis", "text": "On September 4, 2024 the chairman and ranking member of the U.S. House Select Committee on the CCP, John Moolenaar and Raja Krishnamoorthi, together with Senators Sherrod Brown and Bill Cassidy and Representatives Darin LaHood, Glenn Ivey and Ashley Hinson, wrote to Patrick James as chief executive of First Brands Group. The letter said that public information and a Department of Homeland Security raid raised concerns that the company's supplier Qingdao Sunsong and its U.S. subsidiary were circumventing Section 301 tariffs by transshipping products through Thailand, said the signatories were troubled by First Brands' continued purchases, and asked for written answers on its purchases and supplier due diligence, including forced-labour checks, by September 20, 2024. The letter is a request for information expressing concern, not a finding that First Brands or its supplier broke the law, and no reply from First Brands appears in the retained records.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-094" ], "entity_ids": [ "fbg", "patrick-james", "qingdao-sunsong" ] }, { "id": "display-claim-4b80b215b929862154cbd138", "kind": "analysis", "text": "In a separate matter, the U.S. government was reported in June 2026 to have asserted a $286 million claim against First Brands in the bankruptcy, alleging that the company had underpaid tariffs for years. The claim is known from press reports; no determination of it and no response by the company were found in the retained record.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-061" ], "entity_ids": [ "fbg" ] }, { "id": "display-claim-62a042794b18d04bfb46bd49", "kind": "analysis", "text": "First Brands Group, LLC filed a voluntary Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of Texas on September 28, 2025. Its chief restructuring officer, Charles M. Moore, signed the petition, Weil, Gotshal & Manges LLP acted as counsel, and the petition estimated assets of $1 billion to $10 billion, liabilities of $10 billion to $50 billion and 25,001 to 50,000 creditors on a consolidated basis with all affiliated debtors. The case, No. 25-90399 (CML), is the lead case of the jointly administered First Brands cases in the Houston Division and is assigned to Judge Christopher M. Lopez; Moore's declaration in support of the petitions was filed on September 29, 2025. A later docket summary lists it as a Chapter 7 case with 154 parties and 120 related cases.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002", "src-001", "src-010", "src-040" ], "entity_ids": [ "fbg", "charles-moore", "weil" ] }, { "id": "display-claim-f4e83da37b48f1aec959c50e", "kind": "analysis", "text": "According to that first-day declaration, the special-purpose-vehicle (SPV) debtors had filed their own voluntary Chapter 11 petitions on September 24, 2025 as a protective measure, because remedies threatened by the lenders under the inventory financing facilities could have prejudiced the group's transition into Chapter 11; the remaining debtors filed from September 28, 2025. The declaration counts 112 debtor entities, while a later case summary records First Brands Group, LLC and 98 affiliated debtors filing on September 28, 2025 with funded debt of $9.295 billion. The counts differ because the debtors filed on different days, September 24, 28 and 29, 2025, and the 112-entity figure is the declaration's own count.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-040", "src-074" ], "entity_ids": [ "fbg" ] }, { "id": "display-claim-a78b140861fbaf460bf20f63", "kind": "analysis", "text": "A docket summary lists the debtors' advisers: Weil, Gotshal & Manges LLP as bankruptcy counsel for all debtors; Alvarez & Marsal North America, LLC as financial adviser, providing Charles M. Moore as chief restructuring officer; Lazard Frères & Co. for investment banking; Kroll Restructuring Administration LLC as claims and noticing agent; and C Street Advisory Group for strategic communications. The summary dates Moore's appointment to September 26, 2025, whereas the board resolution in the petition records it on September 24, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-010", "src-002" ], "entity_ids": [ "fbg", "weil", "alvarez-marsal", "charles-moore", "lazard", "kroll" ] }, { "id": "display-claim-24f0959f7193c779fc4a29b4", "kind": "analysis", "text": "On October 8, 2025 Judge Christopher Lopez entered a stipulation and agreed order between the debtors, founder Patrick James and the equity holders Mayfair Enterprises LLC, Aztec Corp. and Brake Parts Holdings Inc. James and the equity holders agreed to preserve the debtors' approximately $380 million of federal net operating loss carryforwards, part of which is subject to prior limitations, and not to take any action that could cause an ownership change. These terms are known from a report summarising the order, not from the order itself.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-006" ], "entity_ids": [ "fbg", "patrick-james", "mayfair", "aztec", "bph" ] }, { "id": "display-claim-50d5c8672fcd281d9a8ae5ae", "kind": "analysis", "text": "The debtor-in-possession (DIP) financing is set out in a Senior Secured Superpriority Debtor-in-Possession Credit Agreement dated October 2, 2025, filed in the case on October 6, 2025 as an exhibit to Document 289. It names First Brands Group, LLC (formerly Trico Group, LLC) as borrower, First Brands Group Intermediate, LLC (formerly Trico Group Holdings, LLC) as parent, the guarantor restricted subsidiaries that are debtors, Wilmington Savings Fund Society, FSB as administrative and collateral agent and OPY Credit Corp. as trading agent. The facility comprised $1.1 billion of new-money term loans, provided by an ad hoc group of the debtors' first- and second-lien creditors with an initial draw of $500 million shortly after the petition date, plus roll-up loans of up to $3,300,000,000, created by assigning certain prepetition first-lien and sidecar term loans as the new money was funded. Morgan Stanley Senior Funding, Inc. signed as fronting lender, and the members of the ad hoc group agreed to purchase the new-money loans from it.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023", "src-001" ], "entity_ids": [ "fbg", "fbgi", "wsfs", "opy-credit", "morgan-stanley-sf" ] }, { "id": "display-claim-cf4e02bb04f02f629deeae64", "kind": "analysis", "text": "The agreement defines the Ad Hoc Group as the DIP lenders and prepetition first-lien, sidecar and second-lien term lenders represented by Gibson, Dunn & Crutcher LLP as legal counsel and Evercore Group L.L.C. as financial adviser, and names Alvarez & Marsal Holdings, LLC as the borrower's financial adviser. It recites that on the petition date the lenders under the First Lien Term Loan Agreement of February 2, 2018, for which Jefferies Finance LLC was administrative and collateral agent, were owed approximately $4,625,413,695.97 of principal, and that certain lenders had provided $24,500,000 of incremental term loans, the prepetition bridge facility, under Amendment No. 18 dated September 25, 2025. The new-money loans bear interest at 10.00% a year for SOFR or EURIBOR loans, of which 1.55% is paid in cash and 8.45% in kind; the roll-up loans bear 7.00% a year paid in kind.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023" ], "entity_ids": [ "fbg", "fbgi", "jefferies-finance" ] }, { "id": "display-claim-cc13773c2797f30f3b7548ff", "kind": "analysis", "text": "The lenders attached conditions and controls to the money. Each extension of credit had to be approved by the chief restructuring officer; each loan party had to be unaware, after due inquiry, of any fraudulent activity in its business after the petition date; commitments under the prepetition asset-based facility, or a related DIP facility, had to be at least $250,000,000 unless the court approved the use of that facility's cash collateral; and the borrower had to maintain the \"big 7\" factoring programs on a best-efforts basis. A condition of the first funding was a parent guaranty executed by Viceroy Private Capital, LLC and First Brands Group Holdings, LLC in favour of Wilmington Savings Fund Society, so that the two parent companies guaranteed the DIP loans to First Brands Group, LLC. All cash received by the debtors, including tax refunds, had to be held in an account subject to perfected liens and a deposit account control agreement in favour of the collateral agent, with control agreements over the existing deposit and securities accounts within 45 days of closing. Shekhar Kumar, Senior Vice President – M&A, signed the agreement for both the parent and the borrower.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023" ], "entity_ids": [ "fbg", "viceroy", "fbgh", "wsfs", "shekhar-kumar", "fbgi" ] }, { "id": "display-claim-b0de4e3d14f6d4649d469f62", "kind": "analysis", "text": "The agreement also reached into governance. Section 6.27 required First Brands Group Intermediate, LLC to appoint a new independent director to its board of managers from two nominees provided by the ad hoc group, to reconstitute the board's restructuring committee with that director and two existing independent directors, and to give the committee exclusive authority to oversee the Chapter 11 cases and any sale process and to investigate potential claims against insiders and affiliate transactions. The borrower had to keep a chief restructuring officer acceptable to the required lenders, who consented to Charles Moore of Alvarez & Marsal, and the borrower, Alvarez & Marsal, Lazard and the borrower's counsel had to hold calls every two weeks with the lender advisors on the investigation of insider claims and affiliate transactions.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-023" ], "entity_ids": [ "fbgi", "fbg", "charles-moore", "lazard" ] }, { "id": "display-claim-d814f886ae359a00498d069d", "kind": "analysis", "text": "On September 30, 2025 the debtors sought access to the $1.1 billion of new money, $500 million of it on an interim basis, and authority to roll up $3.3 billion of prepetition debt; on October 1, 2025 the court allowed interim access to $500 million of new money and a $1.5 billion roll-up. On November 7, 2025 counsel to the ad hoc group announced that, after negotiations with the creditors' committee, Onset, the company and others, the court had approved the $4.4 billion facility including its 3:1 roll-up structure and related fees. The $4.4 billion combines the $1.1 billion of new money with the $3.3 billion roll-up; it was not $4.4 billion of new liquidity.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-035", "src-074", "src-025" ], "entity_ids": [ "fbg", "onset" ] }, { "id": "display-claim-3c9224fcb6d4ac8813b61e9a", "kind": "analysis", "text": "By January 2026 the company's cash was running short. A press report of January 23, 2026, citing people familiar with the matter, said Oaktree Capital Management and Anchorage Capital had bought stakes in the $1.1 billion DIP loan, which traded at distressed levels while First Brands negotiated additional financing; the company had sought as much as $800 million of new money from creditors in December 2025 and said in early January 2026 that its funds would last only through the end of that month, and creditor advisers said new money required the approval of two-thirds of the existing DIP holders. The purchases are not documented in the retained court records. At a hearing on January 29, 2026 the court allowed First Brands to obtain short-term financing from Ford and General Motors, which were to prepay $48 million for parts over the following week so that businesses serving them, employing about 17,000 people in North America, could keep operating; earlier that month First Brands had said its cash on hand had fallen to $190 million despite borrowing $1.1 billion after filing.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-053", "src-081" ], "entity_ids": [ "fbg", "oaktree", "anchorage" ] }, { "id": "display-claim-9b054b7fa9f63d057cbe5c99", "kind": "analysis", "text": "Several parties sought outside control or dismissal early in the case. Raistone Capital LLC and Raistone Purchasing LLC – Series XXXII moved on October 8, 2025 for the appointment of an examiner (Bankr. Dkt. No. 307), and the U.S. Trustee did so on October 15, 2025. On October 30, 2025 Evolution Credit sought the appointment of a Chapter 11 trustee and the Carnaby senior secured lenders sought dismissal of certain debtors' cases, as did the Aequum senior secured lenders on November 10, 2025. The debtors also litigated with certain SPV lenders over whether the SPV debtors had to be administered separately from the rest of First Brands because they allegedly had separate assets and liabilities, including in Aequum Capital Financial II LLC's motion to dismiss (Bankr. Dkt. No. 631) and in an adversary proceeding brought by Evolution Credit Opportunity Master Fund II-B, L.P. against the debtors (Adv. Dkt. No. 3800). That separateness dispute is described in Patrick James's motion to dismiss the estate's suit against James, which cites these filings.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026", "src-074" ], "entity_ids": [ "raistone", "evolution-cp", "aequum", "fbg", "evolution-fund" ] }, { "id": "display-claim-72751ec118e59b28dbe4e9be", "kind": "analysis", "text": "On November 19, 2025 the court ordered the appointment of an examiner, whose mandate was to investigate First Brands' prepetition factoring transactions and the transfers and transactions related to its inventory financing arrangements. E. Martin De Luca, appointed in December 2025 in an appointment confirmed by Judge Christopher Lopez, worked on a budget set at $7 million and filed a redacted interim report on April 27, 2026, writing that the investigation had been paused because the court-approved budget was exhausted while significant work remained. The report's findings are allegations in an interim report, not court findings, and are described together with the estate's claims against insiders. On May 4, 2026 the examiner asked to raise the budget from a $7 million cap to $10 million. First Brands objected that at least $2 million of the increase reflected expenses already incurred above the approved budget although the examiner knew the ad hoc group did not consent to an increase, the ad hoc group also objected, and on June 18, 2026 the court denied the request.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026", "src-074", "src-028", "src-072", "src-050" ], "entity_ids": [ "raistone", "evolution-cp", "aequum", "fbg" ] }, { "id": "display-claim-0121500d4aff9299611ae457", "kind": "analysis", "text": "Before the petition the debtors had bought two directors' and officers' (D&O) insurance towers, an ABC policy and a Side A policy, each of $100 million made up of a $10 million primary policy and nine $10 million excess layers; the policies were issued to the non-debtor Mayfair Enterprises, LLC. On January 7, 2026 Judge Christopher Lopez ruled on the motion concerning these policies (Document 1231): the Side A policies and their proceeds are not property of the estate, so the automatic stay does not apply to them, while the debtors' interest in the proceeds of the ABC policy is estate property; the request to lift the stay for cause was denied without prejudice.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-016", "src-097" ], "entity_ids": [ "fbg", "mayfair", "edward-james" ] }, { "id": "display-claim-a04c62ff88405a3e72700185", "kind": "analysis", "text": "Because of that order the Side A insurers had to drop down and pay defence costs of the litigation against the debtors' directors and officers. Edward James appealed the order, and on April 24, 2026 Senior U.S. District Judge Lee H. Rosenthal (S.D. Tex., Civil Actions H-26-513 and H-26-962) refused the motion of the Official Committee of Unsecured Creditors to dismiss the Side A insurers' appeal, noting that the insurers were in effect joining Edward James's appeal.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-097" ], "entity_ids": [ "edward-james", "fbg" ] }, { "id": "display-claim-8559c23b1ce78cabd6ce0f31", "kind": "analysis", "text": "The docket of case 25-90399 lists adversary proceedings including Evolution Credit Opportunity Master Fund II-B, L.P. v. the entities listed on Schedule 1 (25-ap-03800, October 31, 2025); First Brands Group, LLC et al. v. sealed defendants (25-ap-03803, November 3, 2025); First Brands Group, LLC v. Onset Financial, Inc. et al. (26-ap-03005, January 9, 2026); Evolution v. First Brands Group, LLC et al. (26-ap-03006, January 9, 2026); Bank of America, N.A. et al. v. Aequum Capital Financial II LLC et al. (26-ap-03091, April 1, 2026); a suit by the UAW union against First Brands (26-ap-03143, April 29, 2026); Planters Bank v. Onset Financial (26-ap-03683, June 8, 2026); and GLAS Trust Company LLC, as administrative agent, v. Bank of America, N.A. et al. (26-ap-03592, July 28, 2026). The listing gives captions only, not the claims or their merits, and an adversary filed on February 13, 2026 by individual plaintiffs is not listed by name.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-040" ], "entity_ids": [ "fbg", "evolution-fund", "onset", "bank-of-america", "aequum", "planters-bank", "glas-trust" ] }, { "id": "display-claim-60ad5491d6ec0a426451f72c", "kind": "analysis", "text": "One of these suits began outside the bankruptcy court. Planters Bank, whose parent is Planters Holding Company, Inc., sued Onset Financial, Inc. on June 8, 2026 in the U.S. District Court for the Eastern District of Louisiana (No. 2:26-cv-01230), attaching a master lease, master lease schedule 28, a UCC-1 financing statement and an assignment; its claims are allegations in a pending action. Onset moved to dismiss the complaint under Rules 12(b)(6) and 12(b)(1) or, in the alternative, to transfer it to another venue. On September 24, 2026 Judge Carl J. Barbier granted the motion as to the first claim, dismissing it without prejudice, and transferred claims two to six to the Southern District of Texas, where the action is pending as adversary proceeding 4:26-ap-03683 in the First Brands case. No ruling on the merits is recorded.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-076" ], "entity_ids": [ "planters-bank", "onset", "fbg" ] }, { "id": "display-claim-bd1ec0f8b97e973fb32d7e83", "kind": "analysis", "text": "Other parties appear on the case docket in their own right. Mayfair Enterprises, LLC is listed as a creditor represented by its own counsel. The interested parties include the Carnaby II and III secured parties, Leucadia Asset Management LLC and the LAM TFG, LAM TFG I SPV and LAM TFG II entities, Banco Actinver as trustee of an irrevocable management trust, and Patrick James, represented by Quinn Emanuel Urquhart & Sullivan, LLP. Former First Brands executives appear separately as interested parties with their own counsel, among them Michael Baker, Edward James, Stephen Graham, Peter Andrew Brumbergs and Shekhar Kumar; Jefferies Financial Group Inc. and Deva Capital Investment Company, S.L.U. are also listed as interested parties.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-040" ], "entity_ids": [ "mayfair", "fbg", "leucadia", "lam-tfg", "lam-tfg-i", "lam-tfg-ii", "patrick-james", "quinn-emanuel", "michael-baker", "edward-james", "stephen-graham", "peter-brumbergs", "shekhar-kumar", "jefferies-fg", "deva-capital" ] }, { "id": "display-claim-b7b9216fb3ad435f235bb575", "kind": "analysis", "text": "In June 2026 the U.S. government was reported to have asserted a $286 million claim against First Brands in the bankruptcy, alleging that the company had underpaid tariffs for years. The claim is known from press reports; no determination of it and no response by the company were found in the retained record. That month the Pension Benefit Guaranty Corporation took three First Brands pension plans covering 1,630 current and future retirees into its trusteeship: the plan for bargaining-unit employees of the FRAM plants in Fostoria and Greenville, the plan for Cardone Industries Inc. union employees and the Dalton Corporation Warsaw Manufacturing Facility pension plan.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-061", "src-072" ], "entity_ids": [ "fbg", "cardone", "dalton" ] }, { "id": "display-claim-019988864f4e9cc3e741f6ef", "kind": "analysis", "text": "On May 13, 2026 the U.S. Trustee moved to convert the cases to Chapter 7 or to dismiss them, arguing that a Chapter 7 trustee could liquidate the assets and pursue the litigation claims at a fraction of the existing costs. According to the motion as reported, the company had already paid at least $245 million of advisory fees to bankruptcy advisers for itself and its creditors through March 2026, including about $77.8 million to its main law firm, it had $233 million of unpaid administrative claims, and the proceedings improperly favoured a limited group of professionals and lenders. These were the U.S. Trustee's arguments, not findings of the court. On June 12, 2026 the court denied the motion to convert or dismiss and conditionally approved the disclosure statement for the debtors' revised plan.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-047", "src-074" ], "entity_ids": [ "fbg" ] }, { "id": "display-claim-42ae9369619632d06542b120", "kind": "analysis", "text": "After Judge Lopez refused on May 26, 2026 to approve the disclosure statement for an earlier single-debtor plan, the debtors filed on June 5, 2026 an amended joint liquidating plan for the subsidiaries of First Brands Group Holdings, LLC and of Viceroy Private Capital, LLC, the holding company of the Carnaby special-purpose-vehicle (SPV) silo; the SPV debtors were not plan debtors. A litigation trust, with Gerard Uzzi as litigation trustee, was to be funded with at least $75 million, made up of $50 million of committed funding backstopped by certain debtor-in-possession (DIP) lenders and $25 million of cash. The debtors' equity interests were to be cancelled when their cases closed, and the remaining rights of the holders of interests in FBG Holdings and Viceroy were to be non-transferable.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-039" ], "entity_ids": [ "fbgh", "viceroy", "fbg" ] }, { "id": "display-claim-78ef40bdf7b792e3852dc709", "kind": "analysis", "text": "The plan estimated allowed claims against the First Brands debtors at $1.335 billion for new-money DIP claims; $3.3 billion for roll-up claims, deemed allowed at that amount although the debtors put total roll-up claims at about $3.577 billion; $1.991 billion for first-lien claims; $600 million for second-lien claims; $367 million for asset-based (ABL) claims; and $5.641 billion for general unsecured claims. On confirmation the ABL agent would be deemed to have foreclosed on the ABL collateral and transferred it to an ABL collateral trust. The plan also added the First Brands debtors, the special committee members William Transier and Benjamin Duster, and Neal Goldman and Benjamin Duster in their capacities as independent managers to its release and exculpation provisions. These were estimates and proposed terms of a plan that was never confirmed.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-039" ], "entity_ids": [ "fbg", "william-transier", "benjamin-duster", "neal-goldman" ] }, { "id": "display-claim-19c3ee41e0e0d57f6bdaee5f", "kind": "analysis", "text": "In a June 2026 declaration supporting the plan, Charles Moore disclosed that the debtors had generated approximately $221 million from the Walbro, Toledo Molding & Die and Horizon North America sales and other asset sales and had used it to pay down secured claims.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-039" ], "entity_ids": [ "charles-moore", "walbro", "tmd", "fbg" ] }, { "id": "display-claim-e99d6b4b7b747bf3f46c9218", "kind": "analysis", "text": "Further recoveries were to come from litigation. In July 2026 court filings the debtors argued that more than $25 billion was potentially available through litigation against third-party financing companies, including Katsumi, Jefferies's subsidiary Leucadia Asset Management and the leasing company Onset Financial, and against founder Patrick James; the figure was the debtors' estimate of a potential claim universe based on gross transfers, not a valuation or a court finding. Katsumi, Leucadia Asset Management, Onset and the U.S. Trustee objected to the plan. By June 2026 the debtors' suits against James and against Onset, together seeking more than $2.7 billion in damages, were stayed pending resolution of the criminal charges against James, with Judge Lopez directing the parties to report on the criminal proceedings by July 13, 2026 and James's criminal trial scheduled for February 9, 2027; the claims in those suits have not been adjudicated. James has denied the fraud allegations, and after the August 2026 plan ruling an Onset spokesperson said the court's rejection of the plan was another sign that the debtors' allegations against Onset lacked merit. In denying confirmation on August 24, 2026 the court did not assess the merits of these claims.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-070", "src-025", "src-039" ], "entity_ids": [ "fbg", "katsumi", "leucadia", "jefferies-fg", "onset", "patrick-james" ] }, { "id": "display-claim-afaff133c2b7090c245ce5ac", "kind": "analysis", "text": "In a bench ruling on August 24, 2026 Judge Christopher Lopez refused to confirm the debtors' liquidating plan, and later entered a one-page order denying confirmation (Docket No. 3710) that incorporated the ruling. The plan depended on litigation over roughly $25 billion of transfers and needed recoveries of about $1.9 billion to $2.0 billion before administrative claims could be paid in full, possibly pushing the effective date into late 2028. The judge found that recovery case too uncertain and noted that confirmation would immediately transfer assets to trusts, terminate management and impose releases that could not later be unwound. The court did not decide the merits of the estate's claims or find bad faith, and it overruled several disclosure and process objections.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-074", "src-025" ], "entity_ids": [ "fbg" ] }, { "id": "display-claim-2ed609810d54cf84a7b2d357", "kind": "analysis", "text": "The ruling also rejected the proposed sale of the estate's litigation claims to the DIP lenders by credit bid, because the lenders' liens attached only to proceeds of certain avoidance actions and not to the claims themselves, and because the claims had not been adequately marketed. It held that DIP roll-up claims, being administrative claims, could not serve as the accepting impaired class for Viceroy Private Capital and FBG Holdings, and it refused a preference settlement that let an electing creditor later be removed for alleged adverse conduct.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-025", "src-074" ], "entity_ids": [ "fbg", "viceroy", "fbgh" ] }, { "id": "display-claim-db837d33bdfadbfa003c3db8", "kind": "analysis", "text": "Judge Lopez also noted that the declaration of interim chief executive Charles Moore had accepted the $25 billion figure without adjusting for potential defences, gave no real analysis of whether claims could be resolved before a 2028 deadline and took no position on possible federal forfeiture of Patrick James's assets in the criminal case. The judge further found that the plan would transfer claims of the SPVs, which are not part of the First Brands estate and are subject to claims of financiers such as Evolution Credit Partners, saying the debtors \"can't sell what they don't own\".", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-070" ], "entity_ids": [ "charles-moore", "patrick-james", "evolution-cp", "fbg" ] }, { "id": "display-claim-4c125b34b6e4e23ef91d71ac", "kind": "analysis", "text": "On September 1, 2026 Judge Christopher M. Lopez entered an order converting the remaining First Brands Chapter 11 cases to Chapter 7 (Docket No. 3748), a week after the August 24 bench ruling. By then substantially all of the operating businesses had been sold or wound down, most of the roughly $1.1 billion of new-money DIP financing had been spent and at least $222 million of obligations incurred during the bankruptcy remained unpaid; counsel for Onset put the unpaid administrative and priority claims at nearly $300 million. As reported from the ruling, First Brands no longer operated any business and had terminated most of its workforce. One trade report dated the conversion to August 24, 2026, the day of the bench ruling; the conversion order itself is dated September 1, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-025", "src-051", "src-100", "src-059" ], "entity_ids": [ "fbg" ] }, { "id": "display-claim-a35b724084fdcef687e17b43", "kind": "analysis", "text": "The proposed conversion order filed on August 27, 2026 (Docket No. 3722) would convert 108 First Brands debtors to Chapter 7 on entry, noting that Patterson Inventory, Patterson Inventory Holdings, Starlight Inventory I and Starlight Inventory Holdings I had already been converted in April 2026. It preserved the DIP liens and superpriority claims, and provided that the independent directors Neal Goldman, William L. Transier and Benjamin Duster and the officers Charles Moore, Daniel Jerneycic, Gaurav Malhotra and Paul Kosturos would be deemed to have resigned on conversion. These are the terms of the proposed order as filed; the text of the final order of September 1, 2026 is not in the retained record.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-074" ], "entity_ids": [ "fbg", "patterson", "starlight", "neal-goldman", "william-transier", "benjamin-duster", "charles-moore", "daniel-jerneycic", "gaurav-malhotra", "paul-kosturos" ] }, { "id": "display-claim-2596f2269aacd0af2a399d29", "kind": "analysis", "text": "Separately, on April 8, 2026 the debtors had sought emergency approval of a settlement allowing the cases of the Evolution SPV debtors to be converted to Chapter 7. On July 8, 2026 Evolution moved to compel the debtors to turn over $21.5 million of accounts receivable collected after the petition, and on July 9, 2026 the Chapter 7 trustee of the SPV debtors joined the motion.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-074" ], "entity_ids": [ "fbg", "evolution-cp" ] }, { "id": "display-claim-f3a10a81bbcffce51b215e96", "kind": "analysis", "text": "According to an industry press account of the Chapter 7 conversion, three operating businesses were sold in the First Brands bankruptcy: the Horizon Global towing business for $64 million, Toledo Molding & Die for $80 million and Walbro for $50 million. Together the $194 million recovered a fraction of the $1.1 billion First Brands borrowed under its debtor-in-possession (DIP) facility; the brand and intellectual-property sales closed on undisclosed terms and are not included in that total. In a June 2026 declaration supporting the liquidating plan, Charles Moore disclosed that the debtors had generated approximately $221 million from the Walbro, Toledo Molding & Die and Horizon North America sales and other asset sales, and had used it to pay down secured claims.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-051", "src-039" ], "entity_ids": [ "horizon-global", "tmd", "walbro", "fbg", "charles-moore" ] }, { "id": "display-claim-70a741229fb73d36be213765", "kind": "analysis", "text": "Walbro makes small-engine fuel systems, carburetors, fuel pumps and ignition systems. In March 2026 First Brands agreed to sell the business for $50 million; Judge Christopher Lopez approved the private sale to Overdrive Capital, LLC on March 13, 2026, and it closed on March 16, 2026. Overdrive Capital is owned and operated by shareholders and officers of Active Dynamics Group, a Toronto-based supplier; the first report of the agreement named Active Dynamics Group itself as the buyer. First Brands said the sale would save about 600 jobs. The Carter Carburetor brand, part of the Walbro business, was excluded from the sale.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-063", "src-074", "src-121", "src-051" ], "entity_ids": [ "walbro", "overdrive-capital", "active-dynamics", "fbg" ] }, { "id": "display-claim-ac7ce86f1034ca96e08ca28c", "kind": "analysis", "text": "Toledo Molding & Die (TMD), founded in 1955, supplies the automotive industry with air and fluid management systems and interior components. On May 14, 2026 Judge Lopez signed an order authorizing First Brands Group, LLC to sell TMD's assets to TNJ Ohio LLC, an affiliate of JVIS, free and clear of existing liens, claims and interests, under an asset purchase agreement dated May 7, 2026 with WMC-KSA Holdings LLC as the buyer's guarantor; court records value the sale at about $80 million.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-051", "src-062" ], "entity_ids": [ "tmd", "tnj-ohio", "fbg" ] }, { "id": "display-claim-2b5f2c53e95b09f153a585ec", "kind": "analysis", "text": "Court documents dated March 25, 2026 show First Brands agreeing to sell 12 brands, including Fram, Autolite and Trico, to PGI Northstar LLC, an affiliate of Premium Guard, for $25 million, with the buyer taking on certain liabilities related to those brands; the debtors described the assets as their Filters and Plugs, Wipers and StrongArm business lines. The NOCO Company objected on April 3, 2026; the court approved the sale of these intellectual-property assets on April 10, 2026 and the sale closed on April 13, 2026. Premium Guard Inc. (PGI) later completed a purchase of further First Brands assets: production lines for oil, air and cabin filters in Albion, Illinois, manufacturing equipment from the former FRAM plant in Ohio, a filtration research and development center and laboratory, and inventory in the United States and Mexico.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-048", "src-074", "src-072" ], "entity_ids": [ "pgi-northstar", "fbg" ] }, { "id": "display-claim-93a0751acd9cadf047b55d78", "kind": "analysis", "text": "The brake brands left First Brands in two separate transactions in June 2026, before the case was converted to Chapter 7. Friction One acquired the Raybestos brand with its formulations, engineering specifications, application data, catalogs and marketing assets, and Motorcar Parts of America acquired the intellectual and digital property behind Centric Parts, Posi Quiet, StopTech, C-TEK and GCX in a Section 363 sale free and clear of liens and claims, without assuming operating liabilities. The terms of both were not disclosed, and neither buyer took over manufacturing operations.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-051" ], "entity_ids": [ "friction-one", "motorcar-parts", "fbg" ] }, { "id": "display-claim-7688d3a0666c27aeb086776b", "kind": "analysis", "text": "On January 26, 2026 First Brands announced the wind-down of its North American Brake Parts Inc., Cardone and Autolite businesses after failing to secure funding or complete sales for them; production stopped, and the buyers of the brake brands later acquired brand and engineering assets rather than going concerns. On March 23, 2026 the debtors filed a motion to wind down the Brakes, Autolite and Hopkins units. In early 2026 First Brands shut 17 facilities and laid off 4,000 workers after concluding that it did not have enough lender support to reorganize, keeping its last major business lines running on prepaid orders from customers such as Ford Motor Co. and Honda Motor Co. while trying to sell its remaining factories. Hilco Global and SB360 Capital Partners disposed of First Brands inventory and manufacturing equipment for months; remaining tooling, inventory, real property and unsold brand assets pass to the Chapter 7 trustee.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-051", "src-074", "src-060", "src-048" ], "entity_ids": [ "brake-parts-inc", "cardone", "autolite", "hopkins-mfg", "fbg" ] }, { "id": "display-claim-1d1717219bf199a160ec7c51", "kind": "analysis", "text": "Eagle Machining, LLC is one of the affiliated debtors: its Chapter 11 case 4:25-bk-90489 was filed on September 29, 2025 and is jointly administered under First Brands Group, LLC's case 25-90399, and the docket lists it at the group's address, 127 Public Square, Suite 5300, Cleveland, Ohio. In a notice under the federal Worker Adjustment and Retraining Notification (WARN) Act dated December 29, 2025 and signed by Shekhar Kumar, Senior Vice President, M&A, First Brands Group, LLC told the Ohio Department of Job and Family Services that it would permanently close the entire Eagle Machining facility at 705 N Fayette Street, Fayette, Ohio, affecting 251 employees, with closure to begin on February 27, 2026, because the plant had underperformed for a year.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-040", "src-089" ], "entity_ids": [ "eagle-machining", "fbg", "shekhar-kumar", "paul-kosturos" ] }, { "id": "display-claim-563f5b3949d0e3ac2de7b958", "kind": "analysis", "text": "An updated notice of January 27, 2026 brought the Eagle Machining closure forward to that day, affecting 246 employees, 235 of them terminated on January 27, 2026; the company cited failed financing efforts, the failure of its sale process and major customers withholding payments, and named Paul Kosturos as its contact. Ohio local television reported on January 29, 2026 that more than 230 employees of Eagle Machining, whose parent company it named as First Brands Group, had been abruptly laid off at the Fayette plant days before two First Brands executives were arrested on federal fraud charges; the village administrator said the loss of jobs and tax base had forced the village to lay off several police officers.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-089", "src-096" ], "entity_ids": [ "fbg", "eagle-machining", "shekhar-kumar", "paul-kosturos" ] }, { "id": "display-claim-af079f969b91926f18030dc9", "kind": "analysis", "text": "Brake Parts Inc. permanently closed its operations in McHenry, Illinois, at 4400 Prime Parkway, 1100 Corporate Drive and 1380 Corporate Drive. According to its WARN filing with the Illinois Department of Commerce and Economic Opportunity in early February 2026, 389 employees there were or would be laid off: 332 that week and 57 retained for a time to help with the closure.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-090" ], "entity_ids": [ "brake-parts-inc", "fbg" ] }, { "id": "display-claim-0fc65d2a45c8f73ac03b14b5", "kind": "analysis", "text": "In August 2024, according to the March 26, 2026 declaration of the independent director of the Ultinon holding companies, First Brands (FBG) bought the Ultinon automotive-lighting business from Lumileds Holding B.V. for about $238 million, subject to adjustments; until then the business had been part of the Lumileds group. Ultinon makes lights for the aftermarket and for vehicle manufacturers at plants in Aachen (Germany), Pabianice (Poland) and Songzi (China), most recently held about 20% of the global automotive-lighting market, and generated EBITDA of about $61 million in 2022 and $48 million in 2023. Other records date the deal differently: a case summary lists a May 2024 sale announcement by Lumileds and completion in July 2024, and German legal press says First Brands took over the business in May 2024.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-105", "src-104", "src-106" ], "entity_ids": [ "lumileds", "ultinon-holding", "fbgh" ] }, { "id": "display-claim-34edb3cfb0b0fe6ad95a0a51", "kind": "analysis", "text": "The organisation chart filed with the Ultinon first-day declaration (Case No. 26-90428) traces the ownership from First Brands Group Holdings, LLC (Delaware) through KTRI Holdings, Inc. (Delaware), Trico Products Corporation (New York), Trico Investments Corporation (Delaware) and Trico Belgium S.A. (Belgium) to three Dutch companies: Liberty I B.V., its direct subsidiary Liberty II B.V., and Liberty II's direct subsidiary Ultinon Motion Holding B.V. Twenty operating subsidiaries in 19 countries, including Ultinon Motion Germany GmbH, sit beneath Ultinon Motion Holding B.V. The group organisation chart attached to First Brands Group, LLC's own bankruptcy petition (case 25-90399) also lists Ultinon Motion Holding BV, the Ultinon Motion and Lumileds-named operating companies and Liberty I and II, as well as Westfalia-Automotive in the Horizon Global part of the chart and FRAM Group (Canada) Inc. next to FRAM Group Holdings. Only the text of that chart survives, without its lines and boxes, so it does not show ownership percentages or direct holders.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-105", "src-104", "src-002" ], "entity_ids": [ "fbgh", "ktri", "trico-products", "trico-investments", "trico-belgium", "liberty-i", "liberty-ii", "ultinon-holding", "ultinon-germany", "fbg", "westfalia", "fram-canada" ] }, { "id": "display-claim-027fbd33b4c487ec97d9fed0", "kind": "analysis", "text": "In connection with the acquisition, Liberty II B.V. borrowed under a Senior Facilities Agreement of July 30, 2024 with Banco Santander, S.A. as agent and security agent, initially €140 million of Facility B term loans, guaranteed and secured by several Ultinon companies. A case summary lists Banco Santander's claim as agent at about $121.5 million, the largest creditor claim in the Ultinon cases; at the March 26, 2026 petition date the agent held security over certain assets of the debtors but not over the cash in their bank accounts. That cash came to about $3.4 million in 22 accounts at five banks, 10 of them at Citibank, the primary bank. Ultinon Motion Holding B.V. had also received advances under an International Factoring Agreement of August 8, 2024 with Crédit Agricole Leasing & Finance (CALF), paid into Citibank euro and Polish zloty accounts and used to fund the operating companies; the declaration expected no further factoring receipts after the filing.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-104", "src-105" ], "entity_ids": [ "liberty-ii", "banco-santander", "ultinon-holding", "calf", "citibank" ] }, { "id": "display-claim-6e73d67850ca374be897ba08", "kind": "analysis", "text": "After First Brands' own Chapter 11 filing, Liberty II B.V. entered a forbearance and waiver agreement on September 28, 2025. On October 27, 2025 Deva Capital Investment Company, S.L.U., a private-debt firm wholly owned by Santander, provided €5 million of emergency funding to Liberty I and Liberty II, and on November 17, 2025 KTRI Holdings, Inc., itself a debtor in the First Brands cases, lent Liberty II B.V. $7.6 million drawn from the First Brands debtor-in-possession (DIP) financing. A First Brands funding motion of November 21, 2025, approved on November 25, 2025, contemplated $60 million of funding for Liberty I and its subsidiaries, 75% from KTRI and 25% from Deva, with KTRI also to buy 75% of the outstanding Facility B principal through a funded sub-participation at a significant discount.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-105" ], "entity_ids": [ "liberty-i", "liberty-ii", "deva-capital", "banco-santander", "ktri", "fbg" ] }, { "id": "display-claim-2dc9633251604fb7599d5848", "kind": "analysis", "text": "Jame Donath was appointed independent director of Liberty I B.V. and Liberty II B.V. on November 21, 2025 and director of Ultinon Motion Holding B.V. on February 3, 2026, and gave the first-day declaration filed on March 26, 2026. In it Donath stated, on information and belief, that after the acquisition First Brands (FBG) replaced the directors or management of various Ultinon companies with its own personnel, that many boards consisted of the same group of \"FBG Appointees\", including Edward James and Michael Baker, and that these appointees authorized and directed the transfer of tens of millions of dollars of value, including significant cash, out of the Ultinon business without receiving value in return, in transfers that appear to have been designed to benefit FBG entities or perhaps individual members of FBG management. The declaration identifies no specific transfer and no court has ruled on the statement. No claim against the appointees had been brought or decided in the retained records: the declaration left the choice of claims, and their funding, to the trustee of a litigation trust under the Ultinon plan of liquidation, which was confirmed on August 20, 2026, with its effective date noticed on October 12, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-105", "src-104", "src-112" ], "entity_ids": [ "jame-donath", "liberty-i", "liberty-ii", "ultinon-holding", "edward-james", "michael-baker", "fbgh" ] }, { "id": "display-claim-6a71521a7ac3282dd0583a6b", "kind": "analysis", "text": "On the petition date, March 26, 2026, Lumileds Holding B.V., the seller of the business, obtained a precautionary attachment of funds in Ultinon Motion Holding B.V.'s Citibank account in the Netherlands. According to the independent director's declaration, that attachment, payment demands the debtors could not meet and a stalled sale process that neither their lenders nor the First Brands DIP lenders would fund further led the Ultinon holding companies to file for Chapter 11 to obtain the automatic stay.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-105" ], "entity_ids": [ "lumileds", "ultinon-holding", "citibank" ] }, { "id": "display-claim-fa1c1e2b4d0ea693dc3b9787", "kind": "analysis", "text": "The same day Ultinon Motion Holding B.V., Liberty I B.V. and Liberty II B.V. filed petitions in the U.S. Bankruptcy Court for the Southern District of Texas (lead case 26-90428, with 26-90429 and 26-90430) before Judge Christopher M. Lopez, who presides over the First Brands cases; the Ultinon cases are not jointly administered with First Brands case 25-90399. Their stated purpose was to preserve claims and causes of action, including claims under chapter 5 of the Bankruptcy Code, and transfer them to a litigation trust under a plan of liquidation. The plan was confirmed on August 20, 2026, and on October 12, 2026 the claims and noticing agent, Kroll Restructuring Administration LLC, gave notice of the order approving the combined disclosure statement and plan of liquidation and of the occurrence of the effective date. First Brands Group, LLC, Lumileds Holding B.V. and Wilmington Savings Fund Society appeared as interested parties, and Banco Santander, S.A. as a creditor.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-104", "src-112", "src-105" ], "entity_ids": [ "ultinon-holding", "liberty-i", "liberty-ii", "kroll", "fbg", "lumileds", "wsfs", "banco-santander" ] }, { "id": "display-claim-f625d5c455f7e4d38c56ccdc", "kind": "analysis", "text": "Below the holding companies, the Ultinon declaration lists at least four significant operating companies that had begun local insolvency proceedings: Ultinon Motion Germany GmbH in Germany in February 2026, and Ultinon Motion Netherlands B.V., Ultinon Motion Poland S.A. and Ultinon Motion Sweden AB in March 2026. Just before the filing the director was told that the Polish application might not have been accepted.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-104", "src-105" ], "entity_ids": [ "ultinon-germany", "ultinon-holding" ] }, { "id": "display-claim-f58b1480e707aaa7f9aad739", "kind": "analysis", "text": "Ultinon Motion Germany GmbH is the Aachen plant of the lighting business, formerly known as Lumileds Lampen & Accessoires, with about 500 employees. It applied for insolvency in early 2026, attributing the insolvency to the strained situation in the automotive sector and to the burden on its liquidity from the US parent First Brands' insolvency proceedings opened at the end of September 2025 (the First Brands petitions were filed on September 24, 28 and 29, 2025). The Aachen local court appointed Wolfgang Piroth of the Husemann firm as provisional insolvency administrator; in proceeding 92 IN 26/26 Piroth notified the court on July 31, 2026 that the estate was insufficient to cover its liabilities (Masseunzulänglichkeit), as the court published on August 3, 2026. German commercial-register data list the company under HRB 19283 at the Aachen local court (previously HRB 124680 at the Hamburg local court), at Philipsstr. 8, 52068 Aachen, with legal entity identifier 54930036OMKCSQ0TI119, and mark the entry as in liquidation.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-117", "src-103", "src-106", "src-105", "src-113" ], "entity_ids": [ "ultinon-germany", "wolfgang-piroth", "fbg" ] }, { "id": "display-claim-2e5375ebed9027453a5293d3", "kind": "analysis", "text": "Insolvency also reached German companies the group had acquired only recently. Press reports from November 4, 2025 said several German units had filed for insolvency after First Brands Group Holdings' Chapter 11 filing, and a German press overview of December 5, 2025 said three recently acquired companies were already in proceedings: Diepersdorf Plastic Manufacturing, the former Bolta-Werke with about 800 employees, insolvent again after an earlier insolvency; the CoFo group, which makes components for suppliers such as ZF and Bosch; and the seal maker Meteor, which Aequita had sold to First Brands only in September 2025, weeks before the buyer's collapse. These press accounts cite no court files, and the press is the source for the companies' ownership by a First Brands group company. German courts appointed administrators in each case: the Krefeld local court for the two CoFo companies on November 24, 2025, the Hildesheim local court for Meteor on December 2, 2025, and the Nuremberg local court for the former Bolta-Werke, for the second time after 2022. Meteor's administrator was examining whether the sale to First Brands had actually been completed; no record of the result of that review was found. A later trade-press report said all three administrators were reviewing offers from investors.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-101", "src-102", "src-116", "src-115", "src-106" ], "entity_ids": [ "fbgh", "diepersdorf", "cofo", "meteor", "fbg" ] }, { "id": "display-claim-38626fcdbe6619e7a2c58244", "kind": "analysis", "text": "The former Bolta-Werke in Diepersdorf, now trading as Plastic Manufacturing and also producing in Lüdenscheid and Oberlungwitz, filed for insolvency in early November 2025. The Nuremberg local court appointed Volker Böhm of Schultze & Braun as administrator: Böhm's second appointment for the business after 2022, when Böhm sold it to the Czech Winning Group, which passed it to First Brands in 2024. Register data list Diepersdorf Plastic Manufacturing GmbH under HRB 40825 at the Nuremberg local court (previously HRB 273335 in Munich), at Industriestr. 22, Leinburg, with former names including Winning Plastics - Diepersdorf GmbH and Winning Germany 7 GmbH. In the insolvency proceeding (case IE 1607/25) the court appointed lawyer Katharina Franke as special insolvency administrator to examine claims lodged against Diepersdorf by Böhm as administrator of Linden Plastic Manufacturing GmbH and SMK Plastic Manufacturing GmbH; the notice, dated March 13, 2026 in its reprint, lists Weil, Gotshal & Manges LLP (Frankfurt) as the debtor's representatives.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-106", "src-102", "src-114", "src-118" ], "entity_ids": [ "diepersdorf", "volker-boehm", "fbg", "katharina-franke", "linden-plastic", "smk-plastic", "weil" ] }, { "id": "display-claim-3edf2b5fcc1e0474222a9f58", "kind": "analysis", "text": "An aggregator's rendering of the German register links a 100% shareholding in Diepersdorf Plastic Manufacturing GmbH in 2022 to the Czech company Winning Plastics a.s. and lists Michael Simon Baker, Stephen E. K. Graham and Shekhar Kumar as former managing directors. The names match three First Brands executives, Michael Baker, Stephen Graham and Shekhar Kumar, but the direction of the links is not verified and the entries give no dates of appointment or birth, so the identification rests on the names and the group context.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-114" ], "entity_ids": [ "diepersdorf", "winning-plastics", "michael-baker", "stephen-graham", "shekhar-kumar" ] }, { "id": "display-claim-2963030ffe679f472fbd8d12", "kind": "analysis", "text": "By an order of November 24, 2025 the Krefeld local court appointed Jan-Philipp Hoos, a White & Case partner, provisional insolvency administrator of the automotive suppliers CoFo PWK GmbH (Krefeld) and CoFo Räuchle GmbH (Dietenheim), the two companies of the CoFo group, which employed about 500 people at two production sites in Germany; operations continued in full. Meteor GmbH of Bockenem, a long-established maker of automotive seals with about 400 employees, applied for insolvency in early December 2025, citing the insolvency of its US parent group First Brands. On December 2, 2025 the Hildesheim local court appointed Rainer Eckert provisional insolvency administrator; production continued and Meteor group companies outside Germany were not affected.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-116", "src-106", "src-115" ], "entity_ids": [ "cofo", "jan-philipp-hoos", "meteor", "rainer-eckert", "fbg" ] }, { "id": "display-claim-57568ca4f2bc60cf9732b49c", "kind": "analysis", "text": "The December 2025 German press overview said Westfalia-Automotive, a maker of trailer hitches, depended financially on its parent: a letter of comfort (Patronatserklärung) was meant to secure its liquidity, and its auditor had warned in the previous annual accounts of shortfalls if that support stopped. The annual accounts themselves are not in the retained record. Industry sources quoted in the same report described Westfalia as profitable and liquid enough to manage without funds from the US parent for the time being, and a separation from the group was considered possible. German register data for Westfalia-Automotive GmbH (Gütersloh local court, HRB 8808), as rendered by a data aggregator that does not verify the direction of links, show a current 100% link to Westfalia-Automotive Holding GmbH, record an earlier consolidation of Westfalia-Automotive GmbH in the holding company as its parent, and name Tomasz Marcin Sgaslik as managing director of both companies; the US holding companies above them are not shown there.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-102", "src-119" ], "entity_ids": [ "westfalia", "fbg", "westfalia-holding", "tomasz-sgaslik" ] }, { "id": "display-claim-ac454a70edddd58ac4fa855a", "kind": "analysis", "text": "Two Canadian subsidiaries went bankrupt after First Brands' accelerated marketing process, launched on January 5, 2026, drew no bids for the Canadian entities; their directors had been told that operations would cease on April 30, 2026 without further funding. FRAM Group (Canada) Inc., a Toronto-based sales and distribution company of the FRAM filter group (acquired by First Brands in March 2019), made an assignment for the general benefit of creditors under the Bankruptcy and Insolvency Act on April 30, 2026, reporting assets of about $4.5 million and liabilities of about $4.9 million. The Official Receiver's certificate gives May 1, 2026, 07:10 as the date and time of bankruptcy (estate no. 31-3367690) and appoints TDB Restructuring Limited as licensed insolvency trustee, with the first creditors' meeting set for May 19, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-110", "src-107", "src-108", "src-109", "src-111" ], "entity_ids": [ "hopkins-canada", "tdb", "fram-canada", "fbg" ] }, { "id": "display-claim-f7c13ddb7daccd49ea7b29d4", "kind": "analysis", "text": "Hopkins Canada, Inc., of the Hopkins accessories group (acquired by First Brands in November 2023), had converted its Blenheim plant into a warehouse around April 2026. It filed an assignment in bankruptcy on May 4, 2026, reporting assets of about $6.3 million and liabilities of about $6.6 million, and TDB Restructuring Limited was appointed trustee by the Official Receiver.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-110", "src-107" ], "entity_ids": [ "hopkins-canada", "tdb", "fram-canada", "fbg" ] }, { "id": "display-claim-21f92815a0246a6e794eec17", "kind": "analysis", "text": "At the Chapter 11 filing First Brands had a board of managers at each of four parent entities: First Brands Group Holdings, LLC, First Brands Group Intermediate, LLC, First Brands Group, LLC and Viceroy Private Capital, LLC. According to the first-day declaration of the chief restructuring officer, filed on September 29, 2025, each board consisted of Patrick James, Stephen Graham and Shekhar Kumar as managers and Neal Goldman and William Transier as independent managers. All five signed the omnibus written consent approving the Chapter 11 filings, which was filed with the petition of First Brands Group, LLC on September 28, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-002" ], "entity_ids": [ "fbgh", "fbgi", "fbg", "viceroy", "patrick-james", "stephen-graham", "shekhar-kumar", "neal-goldman", "william-transier" ] }, { "id": "display-claim-4ae2b6e6a5a1847a37f41e88", "kind": "analysis", "text": "According to the omnibus consent, the four boards appointed Goldman and Transier as independent managers on September 17, 2025 and established a special committee made up of the two; on September 24, 2025 the boards widened the committee's authority to consider, evaluate, negotiate and approve a potential transaction. The first-day declaration describes the committee's exclusive authority over potential transactions and over an investigation of claims the debtors may hold, including against current and former managers, equity holders, officers and other insiders, covering the company's prepetition factoring and other off-balance-sheet financing; the investigation began before the petition date with the company's counsel and financial adviser.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-002" ], "entity_ids": [ "fbgh", "fbgi", "fbg", "viceroy", "neal-goldman", "william-transier" ] }, { "id": "display-claim-291774ce87ab25d8b9c1d064", "kind": "analysis", "text": "Other records identify the two independent managers only by name and professional profile, and they predate or do not mention First Brands. An SEC filing describes William Transier as chief executive officer of Transier Advisors, LLC, an independent advisory firm serving companies in stressed operational situations, turnarounds, restructurings or in need of interim executive leadership; Helix Energy Solutions Group's board page, where Transier is chairman, gives the same principal occupation. Neal Goldman is described in an SEC filing as managing member of SAGE Capital Investments, LLC, a consulting firm specializing in independent board of director services, strategic planning and transformations, and on a company board page as its chief executive officer and managing member since 2016 and a former managing director of Och Ziff Capital Management and founding partner of Brigade Capital Management.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-014", "src-041", "src-015", "src-042" ], "entity_ids": [ "william-transier", "neal-goldman" ] }, { "id": "display-claim-def03579c7314b0a1671dac0", "kind": "analysis", "text": "The amended joint liquidating plan filed on June 5, 2026, as summarized in a press report, named Benjamin Duster together with William Transier as members of the special committee, and Neal Goldman and Duster in their capacities as independent managers, among the parties covered by the plan's release and exculpation provisions. The retained record does not give the date or document of Duster's appointment, and the plan was not confirmed. An SEC filing that does not mention First Brands describes Benjamin Duster as chief executive officer of Cormorant IV Corporation LLC and Mobile Technologies Inc., with more than 45 years of experience and past or present board seats at Expand Energy, Weatherford International, Republic First Bancorp and Alaska Communications Systems; the link to the First Brands independent manager rests on name and professional profile only. A commercial market-data profile also lists Duster as a director of Cardone Industries, Inc., the First Brands automobile-parts subsidiary, without a start date; no court or registry record of that appointment was retained.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-039", "src-055", "src-080" ], "entity_ids": [ "benjamin-duster", "william-transier", "neal-goldman", "fbg", "cardone" ] }, { "id": "display-claim-22f92bd82d800c8b5311aa09", "kind": "analysis", "text": "Schedule I to the January 9, 2023 Offer to Purchase for Horizon Global shares, filed with the SEC, describes the leadership of First Brands Group, LLC at that time. Patrick James had been a director and its chairman and chief executive officer for more than five years. Ed James had been executive vice president for more than five years, after earlier roles in finance, accounting and working capital solutions with the company and its predecessor. Stephen Graham had been chief financial officer since April 2014, after more than 20 years as chief financial officer of other companies including Dura Automotive, Shiloh Industries, Truck Components and Associated Materials. Michael Baker became a director and chief corporate strategy officer, and Shekhar Kumar corporate finance manager, in August 2021. Both had been partners at the law firm Paul Hastings LLP, where their work included serving as outside finance counsel to First Brands Group, LLC.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-031", "src-013" ], "entity_ids": [ "fbg", "patrick-james", "michael-baker", "edward-james", "stephen-graham", "shekhar-kumar", "paul-hastings" ] }, { "id": "display-claim-f1af508a781902c57a64a5a8", "kind": "analysis", "text": "The same executives held the posts of the acquisition vehicle and then of Horizon Global. PHX Merger Sub, Inc., the wholly owned subsidiary of First Brands Group, LLC that was the purchaser under the offer, had officers and directors appointed in December 2022: Patrick James as controlling person, director, president and chief executive officer; Michael Baker as director, chief corporate strategy officer and secretary; Ed James as executive vice president; Stephen Graham as chief financial officer and treasurer; and Shekhar Kumar as corporate finance manager. Horizon Global Corporation's Form 8-K reporting events of February 8, 2023 states that, when the merger took effect, Patrick James and Michael Baker joined Horizon Global's board of directors, Patrick James became its chief executive officer and president, and Stephen Graham its chief financial officer.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-013", "src-031" ], "entity_ids": [ "phx-merger-sub", "patrick-james", "michael-baker", "edward-james", "stephen-graham", "shekhar-kumar", "fbg", "horizon-global" ] }, { "id": "display-claim-03a946b472cc9943f3463d60", "kind": "analysis", "text": "At the petition date the first-day declaration listed three executive officers: Patrick James, chief executive officer; Stephen Graham, chief financial officer; and Shekhar Kumar, senior vice president for mergers and acquisitions. Patrick James signed the omnibus consents filed with the petition for First Brands Group, LLC as its President and Chief Executive Officer, including in its capacity as the member of FRAMAuto Holdings, LLC that executed that subsidiary's consent to the filing.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-002" ], "entity_ids": [ "fbg", "patrick-james", "stephen-graham", "shekhar-kumar", "framauto" ] }, { "id": "display-claim-2d90d148638aab3e08125faa", "kind": "analysis", "text": "Records differ on Edward (Ed) James's last title at First Brands. The SEC-filed 2023 Offer to Purchase and the debtors' November 2025 complaint describe Edward James as executive vice president, while the U.S. Attorney's Office description of the indictment and First Brands' own statement on the indictment call Edward James a former senior vice president. The records do not explain the difference; both titles are shown as recorded.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-088", "src-005", "src-013", "src-003", "src-031" ], "entity_ids": [ "edward-james", "fbg" ] }, { "id": "display-claim-9d17eb0965849260802d9358", "kind": "analysis", "text": "According to the debtors' complaint of November 3, 2025, Michael Baker, the chief corporate strategy officer and a board member, and Ed James, Patrick James's brother, executive vice president and a board member, each resigned on September 25, 2025 from all positions held as an officer, director, manager or board member at all First Brands entities. On October 30, 2025 Stephen Graham, the chief financial officer and a board member, retired from all positions at all First Brands entities, and Andy (Peter Andrew) Brumbergs, vice president, finance and a board member, was terminated from all positions; the complaint says both had stopped working as of September 22, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003" ], "entity_ids": [ "michael-baker", "edward-james", "patrick-james", "fbg", "stephen-graham", "peter-brumbergs" ] }, { "id": "display-claim-0e8eeaf27aebad7216d82e4c", "kind": "analysis", "text": "Patrick James, the founder, chief executive officer since the company's founding in 2013 and controlling shareholder, resigned on October 12, 2025 from all positions held as an officer, director, manager or board member at all First Brands entities, according to the complaint, which elsewhere gives October 13, 2025 as the end of James's tenure as chief executive. First Brands announced at 8:00 a.m. Eastern time on October 13, 2025 that Charles Moore had been appointed interim chief executive officer and that James was resigning as chief executive officer effective immediately.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-088" ], "entity_ids": [ "patrick-james", "charles-moore", "fbg" ] }, { "id": "display-claim-f72d03d0150565ef81c9ce30", "kind": "analysis", "text": "Charles M. Moore, a managing director of Alvarez & Marsal North America, LLC, had been appointed chief restructuring officer of First Brands Group, LLC and its affiliated debtors in September 2025, before the petition date; the omnibus consent recites resolutions of the boards of the four parent entities dated September 24, 2025 and, separately, September 26, 2025 appointing Moore chief restructuring officer of each of them. After Moore became interim chief executive on October 13, 2025, Daniel Jerneycic and Gaurav Malhotra were appointed co-chief restructuring officers on October 24, 2025, and Paul Kosturos was appointed chief financial officer on October 30, 2025, effective November 3, 2025, according to the complaint. The company's announcement of Moore's appointment said there were no other changes to its executive leadership team at that time.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-002", "src-003", "src-088" ], "entity_ids": [ "charles-moore", "alvarez-marsal", "fbg", "fbgh", "fbgi", "viceroy", "daniel-jerneycic", "gaurav-malhotra", "paul-kosturos" ] }, { "id": "display-claim-340b2a22f1e3d7af47aa0716", "kind": "analysis", "text": "Alvarez & Marsal's own profiles describe the four. Moore is a managing director in its restructuring and turnaround practice in Detroit who previously was a senior managing director at Conway MacKenzie, Inc. and chief financial officer of the automotive supplier Horizon Technology Group. Kosturos is a managing director in its private equity services operations group in Charlotte who specializes in interim chief financial officer assignments and joined the firm in 2009. Jerneycic is a managing director in the restructuring and turnaround practice in Detroit with extensive automotive-industry experience, previously a partner in EY-Parthenon's turnaround and restructuring practice, and Malhotra a managing director in the same practice in Chicago who serves on the practice's executive committee and previously led Ernst & Young's U.S. restructuring practice.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-019", "src-018", "src-020", "src-021" ], "entity_ids": [ "charles-moore", "paul-kosturos", "alvarez-marsal", "daniel-jerneycic", "gaurav-malhotra" ] }, { "id": "display-claim-1b40ab94e5563d02105bcaba", "kind": "analysis", "text": "Shekhar Kumar remained with the company after the bankruptcy filing: the WARN notice of First Brands Group, LLC dated December 29, 2025 on the closure of the Eagle Machining plant in Fayette, Ohio, sent to the Ohio Department of Job and Family Services, was signed by Kumar as senior vice president, M&A.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-089" ], "entity_ids": [ "shekhar-kumar", "fbg", "eagle-machining" ] }, { "id": "display-claim-cabb41eecf3c79733735408b", "kind": "analysis", "text": "Companies House records for Trico Limited (company number 00234268) list among its officers since 2016 Stephen Edward Graham, director and company secretary from December 16, 2016 to October 22, 2025; David William Parker, director from October 4, 2018 to August 10, 2025 after an earlier term from January 15 to December 16, 2016; Shekhar Kumar, director from January 31, 2022 (active); and Michael Baker, director from January 31, 2022 to September 25, 2025. Kumar's and Baker's entries give the group's address at 127 Public Square, Suite 5300, Cleveland, also the correspondence address of two former directors, Jay Russell Machado (October 21, 2020 to June 13, 2023) and Brian Andrew Troyer (October 21, 2020 to January 31, 2022). Parker's four UK appointments recorded by Companies House are all in two Trico companies: director of Trico Limited and of Trico Suzhou Investments Limited from January 15 to December 16, 2016 and again from October 4, 2018 to August 10, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-043", "src-044", "src-120" ], "entity_ids": [ "trico-limited", "stephen-graham", "david-parker", "shekhar-kumar", "michael-baker", "jay-machado", "brian-troyer", "trico-suzhou" ] }, { "id": "display-claim-5407d31e1f956e4364af7090", "kind": "analysis", "text": "Companies House lists six UK directorships of Shekhar Kumar: Trico Limited (from January 31, 2022) and Trico Suzhou Investments Limited (from January 18, 2022), both active; Qualitor Automotive UK Limited (from July 29, 2022; company dissolved); and, from February 8, 2023, Horizon Global Digital Limited (company dissolved), C.P. Witter Limited and Horizon Global European Holdings Limited, from both of which Kumar resigned on March 11, 2026. Michael Baker was a director of Qualitor Automotive UK Limited from July 29, 2022 (company dissolved) and of Trico Suzhou Investments Limited from January 18, 2022 to September 25, 2025, and Stephen Edward Graham a director of Trico Suzhou Investments Limited from December 16, 2016 to October 22, 2025; with Trico Limited these are their only UK appointments.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-044", "src-046", "src-045" ], "entity_ids": [ "shekhar-kumar", "trico-limited", "trico-suzhou", "qualitor-uk", "horizon-global-digital", "cp-witter", "horizon-global-european", "michael-baker", "stephen-graham" ] }, { "id": "display-claim-db8a3713b2e6ec9d546672a6", "kind": "analysis", "text": "German register data, as rendered by an aggregator without appointment dates, list Shekhar Kumar, Michael Simon Baker, Stephen E. K. Graham and David William Parker as former managing directors of Ultinon Motion Germany GmbH (Aachen register HRB 19283), with Lumileds Holding B.V. as the company's former direct parent, and list Shekhar Kumar as a current managing director of Global Assets GmbH. The identification of these managing directors with the First Brands executives rests on matching names and the group context, not on a second identifier.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-113", "src-114" ], "entity_ids": [ "shekhar-kumar", "michael-baker", "stephen-graham", "david-parker", "ultinon-germany", "lumileds", "global-assets-gmbh" ] }, { "id": "display-claim-56b10632ee507874df529074", "kind": "analysis", "text": "On November 3, 2025 First Brands Group, LLC and its affiliated debtors, represented by Weil, Gotshal & Manges LLP, sued Patrick James, the Patrick James Trust and seven companies in the U.S. Bankruptcy Court for the Southern District of Texas (adversary proceeding No. 25-03803). The defendant companies, which the complaint describes as under James's control, are Albion Realty, LLC, Alester Technologies LLC, Battery Park Holdings LLC, Bond Street Asset Management LLC, Ignite Acquisition Holdings LLC, Larchmont LLC and Pegasus Aviation, LLC. The eight counts seek turnover of estate property, avoidance of actual and constructive fraudulent transfers, money had and received, unjust enrichment, a constructive trust, an accounting and recovery of illegal dividends; interim chief executive Charles Moore verified the factual allegations. Many of them are made on information and belief, none had been adjudicated by the evidence cutoff, and the proceeding was stayed in April 2026 pending the parallel criminal case. In early November 2025 a spokesman for Patrick James called the suit \"baseless\" and \"speculative\", and James's lawyers said the transfer claims were not supported by evidence or documented asset tracing.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-026", "src-069", "src-079" ], "entity_ids": [ "fbg", "patrick-james", "pj-trust", "albion-realty", "alester", "battery-park", "bond-street", "ignite", "larchmont", "pegasus-aviation", "weil", "charles-moore" ] }, { "id": "display-claim-2e79689c838715b689400e22", "kind": "analysis", "text": "The complaint describes the Patrick James Trust as created on March 10, 2005 with Patrick James as grantor, and gives the corporate defendants' places and dates of formation: Albion Realty (Delaware, August 4, 2020), Alester Technologies (Delaware, May 18, 2020), Battery Park Holdings (Delaware, May 30, 2012), Bond Street Asset Management (Delaware, October 24, 2022), Ignite Acquisition Holdings (Delaware, August 25, 2023), Larchmont (Ohio, April 17, 2006) and Pegasus Aviation (Delaware, August 24, 2021). Control of these companies by Patrick James is the debtors' description; registry records for them were not among the retained records. James and all the companies are represented by the same counsel, Quinn Emanuel Urquhart & Sullivan, LLP.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026", "src-003" ], "entity_ids": [ "patrick-james", "pj-trust", "albion-realty", "alester", "battery-park", "bond-street", "ignite", "larchmont", "pegasus-aviation", "quinn-emanuel" ] }, { "id": "display-claim-74e6b7e7966af3740cb0e27f", "kind": "analysis", "text": "The debtors' central, unadjudicated allegation is that after Patrick James secured financing for First Brands, James did not use all of the funds for the company but, aided by the other defendants, diverted company assets for personal use. Hundreds of millions of dollars, the complaint says, were transferred from First Brands to James or James's affiliated entities from 2018 to 2025, most of them between 2023 and 2025. It acknowledges that money may also have flowed into the company from James or James's entities in the same period and says James never provided a full accounting, and it contrasts the roughly $12 million of cash the debtors held at the petition date with stated annual net sales of about $5 billion. James's lawyers answered that the hearing evidence showed their client transferred at least tens of millions of dollars into First Brands and that payments to and from the Patrick James Trust were recorded in the company's general ledger.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-026" ], "entity_ids": [ "patrick-james", "fbg", "pj-trust" ] }, { "id": "display-claim-e092500a8adb73d03d913d87", "kind": "analysis", "text": "According to the complaint, more than $700 million was moved from First Brands directly to Patrick James and James's affiliated entities from 2018 to 2025, including more than $600 million distributed from First Brands' bank accounts to the Patrick James Trust for no consideration. It cites internal messages showing that in January 2024 James \"wanted to have the distribution funds sent\" to two trust accounts, after which $25 million was paid that day, followed by a second $25 million distribution in October 2024, and says the company's advisers found no documentation treating these payments as ordinary dividends apart from general-ledger entries. James's motion to dismiss replies that at least some payments to the trust were tax distributions that a pass-through Delaware LLC makes to its members, and that the trust deposited $80 million into the company between December 23 and 27, 2024 and at least $34 million between July 15 and 25, 2025; James's lawyers say their client put at least $600 million back into First Brands before the Chapter 11 filing. None of these allegations has been adjudicated.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-026", "src-091" ], "entity_ids": [ "patrick-james", "pj-trust", "fbg" ] }, { "id": "display-claim-98a6eab0c3fb797c26d993b4", "kind": "analysis", "text": "The complaint ties transfers to the trust to sale-leaseback funding that Onset Financial paid to special purpose vehicles (SPVs) under Viceroy Private Capital, LLC. On January 15, 2025, it says, Carnaby Inventory IV, LLC received about $192 million from Onset and paid $25 million into a trust account; Carnaby IV moved $35 million to the trust on March 10, 2025 and another $35 million on March 13, 2025; and on April 4, 2025 Carnaby FA, LLC received $67.2 million from Onset and paid the Patrick James Trust about $17 million the same day. Overall, the debtors allege, over approximately $200 million of the more than $1 billion of financing First Brands received from Onset between April 2024 and March 2025 went to James or James's affiliated entities. These allegations have not been adjudicated. James's motion to dismiss says the complaint does not give the date, time or transferor for that $200 million, and that the hearing evidence did not connect James to any double-pledging of collateral.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-026" ], "entity_ids": [ "patrick-james", "pj-trust", "onset", "carnaby-fa", "carnaby-iv", "viceroy", "fbg" ] }, { "id": "display-claim-26b707ff4414221da1573db2", "kind": "analysis", "text": "The complaint's unadjudicated allegations also name companies that it says received First Brands money. Battery Park Holdings LLC, which it describes as 100% owned by Patrick James and not directly affiliated with First Brands, received more than $10 million from 2018 to 2025 to pay personal and family expenses, partly through invoices that mixed personal and business items; about $35 million went to Larchmont LLC, another company the complaint says James owns and controls; and transfers in the millions of dollars went to Albion Realty LLC, which it calls James's real estate holding company. It gives no amounts for Albion Realty or for the other corporate defendants, which it says also received transfers. At the preliminary-injunction stage the bankruptcy court found no evidence of likelihood of success on any claim against Albion Realty, Alester Technologies, Bond Street Asset Management, Ignite Acquisition Holdings, Larchmont or Pegasus Aviation.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-026" ], "entity_ids": [ "patrick-james", "battery-park", "larchmont", "albion-realty", "fbg", "alester", "bond-street", "ignite", "pegasus-aviation" ] }, { "id": "display-claim-c2d5b2e38c013ba81b83c8c8", "kind": "analysis", "text": "The complaint further alleges, largely on information and belief, that company funds paid personal expenses of James and the James family: more than $2 million of payroll for James's \"family office\" in 2025, at least $3 million of rent for a residence from 2019 through 2024 and about $500,000 for a private chef in 2025. It says transfers to entities James controlled preceded purchases of homes, and that James owns at least seven properties and at least seventeen exotic cars. A spokesman for James called the allegations \"baseless\" and \"speculative\", and James's lawyers said the complaint relied on the \"unsupported mental leap\" that transfers made close in time to personal purchases must have funded them. None of these allegations has been adjudicated.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-079" ], "entity_ids": [ "patrick-james", "fbg" ] }, { "id": "display-claim-927861d0de6e571619677de6", "kind": "analysis", "text": "The bankruptcy court granted the debtors a temporary restraining order on November 3, 2025, the day the complaint was filed, held an evidentiary hearing on November 10 and on November 12, 2025 denied the preliminary injunction that would have frozen the assets of Patrick James and James's companies. According to the defendants' later motion quoting the transcript, the court found no evidence of likelihood of success for Albion Realty, Alester Technologies, Bond Street Asset Management, Ignite Acquisition Holdings, Larchmont or Pegasus Aviation, no substantial threat of irreparable injury, and a balance of harms favouring the defendants. The judge said there was \"nothing showing that James, himself, was manipulating invoices\", but also that First Brands was \"moving tens of millions of dollars through unaffiliated accounts\" and that the conduct did not appear to be the work of one person but \"was all done while James was CEO.\" The ruling addressed preliminary relief only, not the merits of the claims.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026", "src-049" ], "entity_ids": [ "fbg", "patrick-james", "albion-realty", "alester", "bond-street", "ignite", "larchmont", "pegasus-aviation" ] }, { "id": "display-claim-1dc11260ac4a7981a3bd8239", "kind": "analysis", "text": "On December 15, 2025 Patrick James, the trust and the seven companies, represented by Debevoise & Plimpton LLP and Quinn Emanuel Urquhart & Sullivan, LLP, moved to dismiss the complaint under Federal Rule of Civil Procedure 12(b)(6), or alternatively for a more definite statement. They argued that the eight counts sound in fraud without the particularity Rule 9(b) requires, rely on group pleading and \"information and belief\", do not list the challenged transfers, dates, transferors or transferees, and are partly barred by the doctrine of in pari delicto and by lookback and limitation periods. On December 19, 2025 the parties stipulated to extend the debtors' deadline to respond to the motion to January 19, 2026; in April 2026 all discovery in the proceeding was stayed pending the criminal case.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026", "src-122", "src-069" ], "entity_ids": [ "patrick-james", "pj-trust", "albion-realty", "alester", "battery-park", "bond-street", "ignite", "larchmont", "pegasus-aviation", "quinn-emanuel" ] }, { "id": "display-claim-aaeb8524fccd7e522650d8dd", "kind": "analysis", "text": "The motion also argued that the debtors blamed James alone while other parties may have done wrong. In the defendants' account, the injunction evidence did not link James to manipulated invoices or double-pledged collateral, in some instances invoices were unchanged or lower and factors themselves edited the schedules, and BDO audited the company's financial statements after 2020. James's lawyers described the factoring as in substance unsecured lending in which First Brands kept servicing the receivables, and said that off-balance-sheet lenders, Onset Financial in particular, charged onerous fees and engaged in \"predatory practices\" that, together with tariffs that raised landed inventory costs by about $99 million between April and August 2025, drained the company before the filing. The debtors disputed these arguments, and the court had not ruled on them before the April 2026 stay.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026", "src-049", "src-069" ], "entity_ids": [ "patrick-james", "bdo", "onset", "fbg" ] }, { "id": "display-claim-e30cc70a69e4f5864e24b5fd", "kind": "analysis", "text": "The defendants also sought documents from Jefferies. On December 2, 2025 they served a document subpoena on Jefferies Financial Group Inc. and identical subpoenas on its affiliates Leucadia Asset Management, LLC, Point Bonita Capital, LAM Trade Finance Group LLC, LAM Trade Finance Group I SPV LLC and LAM Trade Finance Group II LLC. On January 7, 2026 they opened a miscellaneous case in the Southern District of New York (No. 1:26-mc-00007) to compel Jefferies to comply, and on January 9, 2026 Judge Edgardo Ramos approved the parties' stipulation transferring the matter to the bankruptcy court in Texas under Rule 45(f). In that case Albion Realty, Alester Technologies, Battery Park Holdings, Bond Street Asset Management, Ignite Acquisition Holdings and Pegasus Aviation each filed a Rule 7.1 corporate disclosure statement saying it has no corporate parent; a Rule 7.1 statement identifies corporate parents only and does not name individual owners.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-049", "src-078" ], "entity_ids": [ "patrick-james", "jefferies-fg", "leucadia", "point-bonita", "lam-tfg", "lam-tfg-i", "lam-tfg-ii", "pj-trust", "albion-realty", "alester", "battery-park", "bond-street", "ignite", "larchmont", "pegasus-aviation" ] }, { "id": "display-claim-df17b1747f33bbf1dd752a8b", "kind": "analysis", "text": "In April 2026 the bankruptcy court granted the United States' motion to intervene and stayed all discovery in the proceeding pending resolution of the parallel criminal case against Patrick and Edward James, accepting the government's argument that the civil case would allow James to circumvent discovery limits of the Federal Rules of Criminal Procedure; it required a status update on the criminal case by July 13, 2026. Patrick James, the Patrick James Trust, Albion Realty, Alester Technologies, Battery Park Holdings, Larchmont and Pegasus Aviation appealed. On May 29, 2026 Senior U.S. District Judge Lee H. Rosenthal (S.D. Tex., Civil Action H-26-3646) denied leave to appeal and dismissed the appeal for lack of jurisdiction, holding that the stay, tied to a criminal trial set for February 2027, was not a final order.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-068", "src-069" ], "entity_ids": [ "patrick-james", "edward-james", "pj-trust", "albion-realty", "alester", "battery-park", "larchmont", "pegasus-aviation", "fbg" ] }, { "id": "display-claim-8da3d88f309ff2a5697b0a97", "kind": "analysis", "text": "The court-appointed examiner, E. Martin De Luca, filed a redacted interim report on April 27, 2026, after the examiner's court-approved $7 million budget was exhausted. As reported, the report describes First Brands as operated as \"a liquidity generating and value extracting enterprise\" rather than a profit-seeking business; it identifies more than $700 million of transactions from First Brands to Patrick James or entities James controlled, including $720 million in 36 transfers from 2021 to 2025, some routed through other companies in a way the examiner says obscured their source and destination, and says some acquisitions from 2011 to 2024 appear to lack a valid business rationale. These are preliminary findings: the examiner said the investigation was paused when the budget ran out while significant work remained, and on June 18, 2026 the court denied the examiner's request to raise the budget to continue; the retained records contain no later examiner report. Patrick James filed a response the same day as the report calling it one-sided, saying it mostly repeated the debtors' and the government's allegations and that the examiner had cooperated inappropriately with federal prosecutors; James says the acquired companies had large operations and the acquisitions reflected sound business judgment.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-050", "src-074" ], "entity_ids": [ "patrick-james", "fbg" ] }, { "id": "display-claim-49c2b9cda18b5ce67af55d4e", "kind": "analysis", "text": "Among the transactions the examiner questions, according to press reports of the interim report: First Brands bought FRAM in 2019 for a stated $306 million, and when FRAM paid $2.3 million in 2021 to repurchase FRAM brand rights, the deal was structured so that about $9 million of additional funding was obtained and transferred directly to Patrick James. In the 2020 UCI acquisition, Illinois real estate was conveyed to Bleecker Group, owned by James, which leased it to the group companies Champion Laboratories and Airtex Products; the property was then deeded to Albion Realty, another James company, which sold part of it in 2021 with FRAM becoming tenant under a leaseback. The examiner also reports that after acquisitions First Brands transferred intellectual property (IP) to Alester Technologies, which shared staff with First Brands Group, and that Alester then licensed the IP to First Brands operating companies; internal conversations before the 2023 Cardone acquisition discussed moving IP to Alester with \"a desire to minimize the valuation attributed to that IP.\" These preliminary findings have not been adjudicated. Patrick James's response says the report does not evaluate all relevant facts and parties evenhandedly and that no final conclusions can be reached about James and the related entities on its basis.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-050" ], "entity_ids": [ "patrick-james", "fbg", "bleecker-group", "champion-labs", "albion-realty", "alester", "cardone" ] }, { "id": "display-claim-05c9b8cecbe8b8df5f8aa294", "kind": "analysis", "text": "The examiner also questions payments connected with Novares. As reported from the interim report, Global Technologies S.à r.l. of Luxembourg, owned by Patrick James outside the First Brands group, acquired Novares Group S.A.S. in 2025, and First Brands paid about $31 million in connection with the sale of Novares subsidiaries whose North American operations were to sit within First Brands; no transfer documentation existed and the $31.1 million was not returned. On September 17 and 19, 2025 the group's Dutch company Cequent Nederland paid Novares about $1.2 million each time as an \"advance payment\", which employees said lacked justification. James's response says certain Novares Americas entities were operationally treated as part of the First Brands enterprise after the acquisition, that most of the funding came from a third-party financier, and that Global Technologies worked in good faith to finalise the transfer until the debtors abruptly discontinued discussions in late October 2025. The findings are preliminary and have not been adjudicated.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-050" ], "entity_ids": [ "gt-sarl", "novares", "patrick-james", "fbg" ] }, { "id": "display-claim-822c005fe155662eed0da513", "kind": "analysis", "text": "Marc S. Kirschner, an expert paid by the debtors' lawyers, filed a July 2026 report in support of the liquidating plan. It says First Brands paid $1.6 billion for 10 acquisitions between 2022 and 2024, that only three were sold during the Chapter 11 cases, for $195 million against an acquisition cost of $641 million, and that in 2023 and 2024 First Brands paid $488 million for assets already owned or controlled by Patrick James, which entities controlled by James had bought for about $422 million. James's response to the examiner's report says the acquisitions reflected sound business judgment, and when the court denied the plan it did not assess the merits of the expert's arguments.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-085", "src-070", "src-050" ], "entity_ids": [ "patrick-james", "fbg" ] }, { "id": "display-claim-9b77d76459ae91b8dc840e4e", "kind": "analysis", "text": "The same report values insider claims at $1 billion within up to $25.4 billion of potential estate claims. It cites a transfer of $708 million to the Patrick James Trust, $38 million to Larchmont and more than $18 million to Battery Park Holdings, both described as Patrick James companies, $455,000 for a private chef, rent and interior design, and at least $10.6 billion of payments it says rested on fraudulent invoices, and it argues that First Brands' factoring and supply-chain finance practices meet the Ponzi-scheme presumption applied in the Fifth Circuit. Patrick James has denied allegations of fraud. The court did not assess the merits of the expert's arguments, but when it refused to confirm the plan on August 24, 2026 it noted that the interim CEO's declaration accepted the $25 billion figure without adjustment for potential defences.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-085", "src-070", "src-025" ], "entity_ids": [ "patrick-james", "pj-trust", "larchmont", "battery-park", "fbg" ] }, { "id": "display-claim-30f803f10d21c63806348f92", "kind": "analysis", "text": "On January 9, 2026 First Brands sued its former executive Edward James, brother of the founder, and its largest creditor, Onset Financial, Inc., in Houston, alleging that they conspired \"to defraud creditors out of billions of dollars and property\": Edward James would \"work against the company as Onset's secret partner\" and together they would rig \"scores of supposed 'contracts'\". The complaint says Edward James invested nearly $150 million alongside Onset hoping to extract nearly $280 million, that Onset and Edward James obtained over $2.3 billion in payments, and that First Brands had also transferred more than $600 million in cash to Onset as of September, about $2.9 billion in total. Onset denied wrongdoing, blamed the James brothers for the collapse and called the debtors' claims a \"desperate attempt to blame a victim for doing business in good faith\". The allegations have not been adjudicated, and by June 2026 the suit was stayed, together with the debtors' suit against Patrick James, pending resolution of the criminal charges against Patrick James.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-084", "src-039" ], "entity_ids": [ "fbg", "edward-james", "onset" ] }, { "id": "display-claim-d81139aec704a41c4f11ee04", "kind": "analysis", "text": "Four days earlier, on January 5, 2026, a group of First Brands creditors had filed a suit accusing Onset Financial of \"pillaging\" the company through usurious financing arrangements approved by Edward James, and alleging that in return Onset agreed to pay Edward James hundreds of millions of dollars through additional fees and a right to invest personally in the financings. The creditor group's allegations have not been adjudicated. Onset has denied wrongdoing in the related litigation, describing itself as a victim of the James brothers; after the plan was rejected in August 2026 an Onset spokesperson said the ruling showed the allegations against it \"wholly lack merit\".", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-084", "src-070" ], "entity_ids": [ "onset", "edward-james", "fbg" ] }, { "id": "display-claim-665944e58df9e9e75c7a862a", "kind": "analysis", "text": "The Official Committee of Unsecured Creditors made parallel allegations in a contested dispute over the retention of its forensic adviser, to which the Ad Hoc Group objected. In a reply filed on February 3, 2026, the committee said Nardello & Co., engaged from December 1, 2025, had identified more than $130 million in assets connected to Patrick James, including assets recently moved into trusts and other asset-protection vehicles, and more than $100 million personally received by Edward James through entities Edward James controlled, Optimus Private Capital LLC and JCMC Investment Group LLC. It said Edward James maintained personal financial relationships with Onset Financial and other asset-based lenders to First Brands, which Edward James controlled as a company executive and insider. These are the committee's positions, not adjudicated findings; after the Chapter 7 conversion in 2026 these claims pass to the Chapter 7 trustee.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-052", "src-051" ], "entity_ids": [ "patrick-james", "edward-james", "optimus", "jcmc", "onset" ] }, { "id": "display-claim-46e9c7c013cba1f4f65a67c3", "kind": "analysis", "text": "In a June 2, 2026 motion seeking authority to bring claims on behalf of the estates, the committee described First Brands as a Ponzi scheme orchestrated by the brothers Patrick James and Edward James and other insiders, saying that \"billions of dollars of value were siphoned away from this company to management and certain co-participants.\" That is the committee's characterisation, not a court finding. A spokesperson for Patrick James has said the narrative that blame for First Brands' collapse should fall on Patrick James is false and that Patrick James looks forward to presenting the defence case in court.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-061", "src-082" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ] }, { "id": "display-claim-d3b79999268253a6cef17a84", "kind": "analysis", "text": "The debtors' expert Kirschner adds allegations about Edward James: that Edward James had a $20.5 million interest in Helios Strategic Advisors, a broker that helped First Brands find financing for fees, and that Helios fees were partly used to funnel kickback payments to Edward James; that in 2023 Leucadia Asset Management's questions about receivables and its request for a call and site visit with chief financial officer Stephen Graham were met with threats from Edward James; that Edward James insisted on being the only person to communicate with the SPV lender Onset; and that Edward James invested alongside Onset in the SPV transactions. These allegations, in an expert report paid for by the debtors' lawyers, have not been adjudicated. Edward James has denied wrongdoing and pleaded not guilty in the criminal case on February 4, 2026; no response from Edward James or Helios to these specific statements was found in the retained records.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-085", "src-091", "src-066" ], "entity_ids": [ "edward-james", "helios", "leucadia", "stephen-graham", "onset", "fbg" ] }, { "id": "display-claim-3454a44a396cec63a0d2ee7f", "kind": "analysis", "text": "A separate civil suit in the First Brands bankruptcy accuses Michael Baker, the former chief corporate strategy officer, of breach of fiduciary duty, aiding and abetting breach of fiduciary duty and civil conspiracy in connection with Baker's role in helping structure the special-purpose vehicles through which First Brands obtained $2.3 billion of off-balance-sheet financing it could not repay. In an April 6, 2026 filing seeking dismissal, Baker denied knowing of the alleged fraud and said that Patrick James and other insiders used Baker's reputation to build relationships with lenders, that Baker resigned on September 25, 2025 when it became clear that \"significant information was being withheld from him\", that using SPVs is not inherently improper, and that the complaint does not show Baker knew anything was wrong. A spokesperson for Patrick James said former officers were trying to \"shift responsibility\". The suit is pending and its allegations are not adjudicated; no criminal charge against Baker appears in the retained records.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-082", "src-003" ], "entity_ids": [ "michael-baker", "fbg", "patrick-james" ] }, { "id": "display-claim-58c61ef637cd63d567550092", "kind": "analysis", "text": "The debtors' June 8, 2026 liquidating plan proposed to place the estates' claims in a litigation trust, including the adversary cases seeking to recover more than $700 million of suspect transfers to the James brothers and others from 2018 to 2025, and claims against Onset Financial, which the debtors allege worked with Edward James to take money from the company, involving more than $2 billion of alleged fraudulent transfers; these claims are as described by the debtors and have not been adjudicated. The court refused to confirm the liquidating plan on August 24, 2026 and on September 1, 2026 converted the remaining cases to Chapter 7.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-061", "src-025" ], "entity_ids": [ "fbg", "patrick-james", "edward-james", "onset" ] }, { "id": "display-claim-f1cbe184652f8a43e2c2b7ca", "kind": "analysis", "text": "A federal grand-jury indictment in United States v. Patrick James and Edward James, 26 Cr. 29 (AT), was filed under seal in the U.S. District Court for the Southern District of New York on January 27, 2026 and unsealed on January 29, 2026, when the U.S. Attorney's Office for the Southern District of New York announced the charges. Patrick James and Edward James were arrested that morning in the Northern District of Ohio, and the case was assigned to U.S. District Judge Analisa Torres. The indictment and the U.S. Attorney's announcement describe Patrick James as the founder and former Chief Executive Officer of First Brands Group, LLC, and Edward James, Patrick James's brother, as First Brands' former Senior Vice President. Charges in a grand-jury indictment are accusations: both brothers pleaded not guilty and are presumed innocent unless proven guilty.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-066", "src-005", "src-008" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ] }, { "id": "display-claim-7414bede72269d0f61db0ac5", "kind": "analysis", "text": "Patrick James is charged in nine counts: managing a continuing financial crimes enterprise (18 U.S.C. § 225, Count One); conspiracy to commit wire fraud affecting a financial institution and bank fraud (18 U.S.C. § 1349, Count Two); wire fraud affecting a financial institution (18 U.S.C. § 1343, Counts Three, Four, Six and Eight); bank fraud (18 U.S.C. § 1344, Counts Five and Seven); and conspiracy to commit money laundering (Count Nine). Edward James is charged in Counts Two through Nine. The U.S. Attorney's chart lists maximum sentences of life on Count One, 30 years on each of Counts Two through Eight and 20 years on Count Nine, and a 10-year minimum potential sentence for Patrick James; the prosecutors state that maximum sentences are given for information only and that any sentence would be determined by a judge. The counts are accusations, to which both defendants pleaded not guilty; they are presumed innocent unless proven guilty.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-005", "src-066" ], "entity_ids": [ "patrick-james", "edward-james" ] }, { "id": "display-claim-5fd5ab7bacf8b8382c640346", "kind": "analysis", "text": "The indictment alleges that from at least 2018 through 2025 Patrick James and Edward James built and bankrupted First Brands through schemes in which the company faked and inflated invoices for accounts receivable and payable, double- and triple-pledged loan collateral, falsified financial statements and concealed substantial liabilities from lenders, yielding billions of dollars of financing for First Brands and millions of dollars in proceeds for the two men. It states that at its September 2025 bankruptcy First Brands, which reported about $5 billion in annual net sales, declared $12 million in cash and over $9 billion in liabilities, leaving lenders and creditors facing billions in losses. These allegations are not proven. On January 29, 2026 a spokesperson for Patrick James said that Patrick James is presumed innocent, denies the charges, built First Brands from nothing into a global industry leader and looks forward to presenting the case in court; a lawyer for Edward James said that Edward James had acted with integrity over decades of work and that counsel had complete confidence in Edward James. Both defendants pleaded not guilty on February 4, 2026; trial is set for February 9, 2027.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-005", "src-066", "src-081" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ] }, { "id": "display-claim-fa3cf58c60a570d780ff70e3", "kind": "analysis", "text": "According to the indictment, even as the frauds unraveled Patrick James \"continued to enrich himself as the owner of First Brands\": through the frauds Patrick James directed, billions of dollars in gross proceeds flowed into First Brands from counterparties, and Patrick James received at least hundreds of millions of dollars in gross proceeds into personal accounts. The indictment also alleges that Patrick James personally siphoned millions of dollars of off-balance-sheet lenders' funds into personal accounts before the money reached First Brands, and that Patrick James misled First Brands' outside auditors by repeatedly certifying that the company had no related-party arrangements, despite knowing that First Brands had purportedly sold billions of dollars of inventory to entities wholly owned and controlled by Patrick James (the \"James Entities\") and that those entities had incurred billions of dollars of liabilities using First Brands' inventory as collateral. These allegations are not proven; Patrick James is presumed innocent, denies the charges and pleaded not guilty to all nine counts on February 4, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-005", "src-066", "src-008", "src-081" ], "entity_ids": [ "patrick-james", "fbg" ] }, { "id": "display-claim-c958fbea8cefb567f9e9fc6d", "kind": "analysis", "text": "The indictment divides the roles between the brothers: the inventory-financing arrangements with off-balance-sheet lenders were directed by Patrick James and negotiated by Edward James, and Edward James, while executing the financing agreements on behalf of the James Entities, received millions of dollars in commission fees for brokering one of the purported inventory financings. Count Nine alleges that from at least 2022 through 2025 both brothers conspired to commit money laundering by disguising the proceeds of fraudulent representations to First Brands' off-balance-sheet lenders, including through transactions designed to conceal the nature, location, source, ownership and control of those proceeds (18 U.S.C. § 1956(h)). The indictment seeks forfeiture from both defendants of property derived from Counts One through Eight and of property involved in Count Nine, and of substitute assets if that property cannot be located; forfeiture would require a conviction. These allegations are not proven, and both defendants pleaded not guilty and are presumed innocent: Edward James pleaded not guilty to Counts Two through Nine on February 4, 2026, and Edward James's lawyer expressed complete confidence in the client.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-008", "src-066", "src-081" ], "entity_ids": [ "edward-james", "patrick-james", "fbg" ] }, { "id": "display-claim-74b556e8a8d4d675c5437f30", "kind": "analysis", "text": "Announcing the charges, U.S. Attorney Jay Clayton said that the James brothers \"obtained billions for First Brands—and millions for themselves—by presenting their lenders with the impression of a successful, growing international business.\" At the February 4, 2026 arraignment, Assistant U.S. Attorney Nicholas Chiuchiolo said the defendants caused more than $10 billion of losses, including for \"some of the most sophisticated financial institutions in the world,\" while collecting tens of millions of dollars for themselves; prosecutors said the alleged fraud lasted from 2018 to 2025. These are the prosecution's statements about its case, not findings; the defendants are presumed innocent, and both pleaded not guilty at the arraignment.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-095", "src-066", "src-005" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ] }, { "id": "display-claim-da13e0ccda9fd563273b48de", "kind": "analysis", "text": "At the arraignments on February 4, 2026 before Magistrate Judge Robyn F. Tarnofsky in Manhattan, Patrick James pleaded not guilty to all nine counts and Edward James pleaded not guilty to Counts Two through Nine. Patrick James's lawyer said that it was \"very much Mr. James' intent to go into court and proclaim his innocence.\" Both were released the same day. Patrick James's $50,000,000 personal recognizance bond was to be co-signed by two financially responsible persons and secured by $5,000,000 in cash deposited with the court and by a residence; Edward James's $25,000,000 personal recognizance bond was secured by $1,000,000 deposited with the court and by a residence. Conditions for both included home detention with location monitoring, travel limited to the Southern and Eastern Districts of New York and the Northern District of Ohio, no new financial accounts, no contact with identified witnesses or victims outside counsel's presence and no private air travel; Patrick James also had to surrender travel documents.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-066", "src-095" ], "entity_ids": [ "patrick-james", "edward-james" ] }, { "id": "display-claim-c41c0d5a4671bf3f7302939d", "kind": "analysis", "text": "Judge Torres eased both defendants' release conditions in June 2026. On June 17, 2026 the court granted Patrick James's June 8 bond-modification request, which a press report describes as replacing home detention with a curfew; the docket entry granting it does not state the new terms. On June 23, 2026 it granted Edward James's request to replace home confinement with a curfew, with travel limited to the Southern and Eastern Districts of New York and the Northern and Southern Districts of Ohio and enhanced telephonic location monitoring; Edward James's counsel wrote that the government and Pretrial Services did not object to a curfew.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-066", "src-065" ], "entity_ids": [ "patrick-james", "edward-james" ] }, { "id": "display-claim-b97cc424c1eaec98ebd992ff", "kind": "analysis", "text": "The trial date has moved. At the initial conference on February 4, 2026 Judge Torres set trial for July 13, 2026. After both defendants sought adjournments, Patrick James asking for a 2027 trial date and Edward James for one in the fall of 2026, the court on May 8, 2026 set the jury trial for February 9, 2027, and on June 22, 2026 excluded time under the Speedy Trial Act through that date. On September 3, 2026 it scheduled a final pretrial conference for February 1, 2027; on September 30, 2026 it adjourned the October 5 status conference without a new date, stating that it would rule on the pending motions in due course. The last docket entry in the retained record is dated October 14, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-066", "src-067" ], "entity_ids": [ "patrick-james", "edward-james" ] }, { "id": "display-claim-c8b7ecd560c41c9e3399be69", "kind": "analysis", "text": "On September 4, 2026 the defendants filed pretrial motions. Patrick James moved to sever the trials, to compel production of Rule 16 discovery and Brady/Giglio material held by First Brands Group, LLC and by other government entities, to compel disclosure of Brady material held by the government, and to quash a government trial subpoena; Edward James moved to dismiss the indictment, to sever the trial of Edward James, to suppress evidence obtained through search warrants and to preclude untimely disclosed evidence. Both had earlier moved for bills of particulars. Subpoenas have also been contested: Patrick James moved in March 2026 to quash a post-indictment grand-jury subpoena dated February 25, 2026 issued to Cooperative Title Agency of Florida, which the court denied on May 5, 2026, lifting its stay and setting a May 14, 2026 return date; in September 2026 Patrick James moved to quash two government trial subpoenas served on third parties, TriState Capital Bank and one other recipient, and in orders of September 3 and 4, 2026 the court stayed compliance pending its ruling.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-067", "src-066" ], "entity_ids": [ "patrick-james", "edward-james", "fbg", "tristate-capital" ] }, { "id": "display-claim-8a3cca6b2cbf445def3aa152", "kind": "analysis", "text": "Peter Andrew Brumbergs, described by First Brands as its former Vice President of Finance, pleaded guilty pursuant to an information before Judge Analisa Torres in United States v. Peter Andrew Brumbergs, 26 Cr. 25 (AT) (S.D.N.Y.). The U.S. Attorney's Office gives the plea date as January 26, 2026, unsealed the plea on January 29, 2026 and said that Brumbergs is cooperating with the government. Its chart lists eight counts, among them conspiracy to commit wire fraud affecting a financial institution and bank fraud, wire fraud affecting a financial institution, bank fraud and conspiracy to commit money laundering, with a maximum sentence of 30 years on each of seven counts. The plea is Brumbergs's own admission in that case, not a finding against any other person. One press report said sentencing was set for June 22, 2026; the retained docket extract ends in February 2026 and contains no sentencing record.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-005", "src-077", "src-012", "src-011", "src-088" ], "entity_ids": [ "peter-brumbergs", "fbg" ] }, { "id": "display-claim-ba9e6a5587243b58ce9f71bd", "kind": "analysis", "text": "Records give different dates for the plea. The U.S. Attorney's Office states January 26, 2026; the court docket shows the sealed eight-count information filed on January 27, 2026; one press report citing the plea transcript dates the plea January 27, and another dates it January 29, the day the plea was unsealed. The U.S. Attorney's release is the official account of the plea date, and the other dates may reflect filing, docketing or unsealing; the plea itself is not in dispute.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-005", "src-077", "src-012", "src-011" ], "entity_ids": [ "peter-brumbergs" ] }, { "id": "display-claim-def5652ebfaef3b1c7ed627b", "kind": "analysis", "text": "At the plea hearing, according to the transcript unsealed on February 25, 2026 as reported, Brumbergs said that between 2018 and 2025 Brumbergs had joined others to provide misleading financial statements: \"We worked to submit quarterly financial statements that included accounting adjustments that misstated First Brands' financial condition and results.\" Brumbergs said company balance sheets falsified the nature and existence of inventory and equipment already pledged or sold as collateral to other lenders, that First Brands did not disclose to some lenders that collateral had been pledged to others, and that Brumbergs took \"complete responsibility\" for the crimes; Brumbergs did not name any co-conspirators. These are Brumbergs's own statements, evidence the prosecution may use rather than findings against any other person; Patrick James and Edward James have pleaded not guilty and deny wrongdoing.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-012" ], "entity_ids": [ "peter-brumbergs", "fbg" ] }, { "id": "display-claim-cefff0aa691d87586d060f48", "kind": "analysis", "text": "Press accounts of court records state that Stephen Graham, First Brands' former Chief Financial Officer, pleaded guilty on March 2, 2026 before Judge Analisa Torres in the Southern District of New York to four counts: conspiracy to commit wire fraud affecting a financial institution and bank fraud, two counts of wire fraud affecting a financial institution and one count of bank fraud. As reported, the charges allege that Graham and others agreed to make false statements to First Brands' lenders and financiers about its financial condition and about the existence and value of collateral pledged or sold to them, and Graham is cooperating with prosecutors. Graham's charging document and docket are not in the retained record, and one account describes the conspiracy count only as conspiracy to commit wire fraud. A guilty plea is Graham's own admission and is not a finding against any other person. One report said sentencing was set for August 3, 2026 and that Graham was released on Graham's own signature and must forfeit property bought with proceeds of the scheme; the retained record contains no later sentencing information.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-011", "src-083" ], "entity_ids": [ "stephen-graham", "fbg" ] }, { "id": "display-claim-871958ecc1e8331d038fb2b9", "kind": "analysis", "text": "In court, according to a press account, Graham acknowledged that First Brands issued financial statements to banks containing \"false and misleading information\" and said: \"I also participated in lender presentations where I presented the false and inflated financial statements to First Brands' lenders to obtain financing for First Brands on better terms than the banks would otherwise offer... I knew this was wrong.\" These statements, as reported in the press, are not findings against any other person; Patrick James and Edward James have pleaded not guilty and deny wrongdoing.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-083", "src-012" ], "entity_ids": [ "stephen-graham", "fbg" ] }, { "id": "display-claim-fc470cbf3b6a44178cfd9c26", "kind": "analysis", "text": "First Brands' January 2023 tender offer document for Horizon Global, filed with the SEC on January 9, 2023, named Patrick James as the sole owner of First Brands Group, LLC and as its controlling person, a director, chairman and chief executive officer, positions James had then held for more than five years. James was also appointed in December 2022 as controlling person, director, president and chief executive officer of PHX Merger Sub, Inc., the First Brands subsidiary that made the offer, and Horizon Global's Form 8-K for events of February 8, 2023 records that James joined Horizon Global's board and became its chief executive officer and president when the merger took effect.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-009", "src-013", "src-031" ], "entity_ids": [ "patrick-james", "fbg", "horizon-global", "phx-merger-sub", "michael-baker", "edward-james", "stephen-graham", "shekhar-kumar" ] }, { "id": "display-claim-323ccea9aa9fca7ce375283d", "kind": "analysis", "text": "At the September 2025 bankruptcy filing James was chief executive officer and one of five managers on the boards of the four parent entities, First Brands Group Holdings, LLC, First Brands Group Intermediate, LLC, First Brands Group, LLC and Viceroy Private Capital, LLC, alongside Stephen Graham, Shekhar Kumar and the independent managers Neal Goldman and William Transier; all five executed the omnibus consent approving the Chapter 11 filings. James signed it for First Brands Group, LLC as its President and Chief Executive Officer, as Manager of 47 limited liability companies of the group, among them the Viceroy-group special purpose vehicles Carnaby Inventory IV, LLC and Carnaby FA, LLC, and as the sole director of 39 group corporations.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-002" ], "entity_ids": [ "fbg", "patrick-james", "stephen-graham", "shekhar-kumar", "fbgh", "fbgi", "viceroy", "neal-goldman", "william-transier", "framauto", "autolite", "fram-operations", "horizon-global-company", "carter-fuel", "qualitor", "brake-parts-inc", "uci-international", "walbro", "eagle-machining", "tmd", "carnaby-iv", "carnaby-fa", "pylon", "trico-products", "cardone", "champion-labs", "hopkins-mfg", "horizon-global", "horizon-global-americas", "dalton" ] }, { "id": "display-claim-188417b2df69a011098a9da1", "kind": "analysis", "text": "James resigned on October 12, 2025 from every position held as an officer, director, manager or board member at all First Brands entities, according to the debtors' complaint, which elsewhere dates the end of James's tenure as chief executive to October 13. That morning First Brands announced that Charles Moore, chief restructuring officer since September 2025, had been appointed interim chief executive officer. James's brother Edward James and the chief corporate strategy officer, Michael Baker, had resigned from all group positions on September 25, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-088" ], "entity_ids": [ "patrick-james", "charles-moore", "fbg", "alvarez-marsal", "daniel-jerneycic", "gaurav-malhotra", "paul-kosturos", "michael-baker", "edward-james" ] }, { "id": "display-claim-9ac5cf1ef78df9b2c903b0a0", "kind": "analysis", "text": "The debtors' verified complaint of November 3, 2025 states that James founded First Brands in 2013 and that the group of more than 100 entities is entirely indirectly owned by James. Charles Moore testified on November 10, 2025 that the entities \"eventually roll up to ownership by Mr. Patrick James\" and, asked whether James was the sole owner of each of them, answered: \"That's my understanding.\" James's own counsel described First Brands Group Holdings, LLC as owned by James in a motion of December 15, 2025, without stating the intermediate holders that the debtors' ownership statement lists.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-026" ], "entity_ids": [ "patrick-james", "fbg", "charles-moore", "fbgh", "viceroy", "bph", "aztec" ] }, { "id": "display-claim-b5b08425427d8cd90badee23", "kind": "analysis", "text": "The ownership statement filed with the petitions shows the intermediate holders: Viceroy Private Capital, LLC owns 66%, Brake Parts Holdings, Inc. 33% and Aztec Corporation 1% of First Brands Group Holdings, LLC, and Mayfair Enterprises, LLC owns all of Viceroy. No official document in the record names the owner of Mayfair, Brake Parts Holdings and Aztec: a single press report, citing the organisational chart in the debtors' first-day papers, said James is their direct owner, while the retained text of that chart shows an \"Equity Owner\" box above the three companies without a legible name.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-002", "src-010", "src-006" ], "entity_ids": [ "viceroy", "bph", "aztec", "fbgh", "mayfair", "patrick-james", "fbg" ] }, { "id": "display-claim-614850586ac9c9a9eb8c290d", "kind": "analysis", "text": "James and the equity holders Mayfair Enterprises, Aztec and Brake Parts Holdings were parties to a stipulation and agreed order entered by Judge Christopher Lopez on October 8, 2025, under which they agreed to preserve the debtors' approximately $380 million of federal net operating loss carryforwards and not to take any action that could cause an ownership change; the terms are known from a report summarising the order, which itself is not in the record.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-006" ], "entity_ids": [ "fbg", "patrick-james", "mayfair", "aztec", "bph" ] }, { "id": "display-claim-cf5f474acfefa32d38eb92b2", "kind": "analysis", "text": "On November 3, 2025 First Brands Group, LLC and the other debtors sued James, the Patrick James Trust and seven companies the complaint describes as under James's control (adversary proceeding 25-03803 in the U.S. Bankruptcy Court for the Southern District of Texas). The complaint alleges that more than $700 million moved from First Brands to James and James's affiliated entities from 2018 to 2025, including more than $600 million paid from company accounts to the trust for no consideration. A spokesman for James called the suit \"baseless\" and \"speculative\", and James's lawyers said the transfer claims were not supported by evidence or documented asset tracing, that some payments to the trust were tax distributions of a pass-through Delaware LLC to its members, that the trust deposited $80 million into the company between December 23 and 27, 2024 and at least $34 million between July 15 and 25, 2025, and that James put at least $600 million back into First Brands before the Chapter 11 filing. None of the allegations, many made on information and belief, has been adjudicated, and the suit was stayed in April 2026 pending the criminal case.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-026", "src-069", "src-079", "src-091" ], "entity_ids": [ "fbg", "patrick-james", "pj-trust", "albion-realty", "alester", "battery-park", "bond-street", "ignite", "larchmont", "pegasus-aviation", "weil", "charles-moore" ] }, { "id": "display-claim-54fbf00dc8535d1c1e778257", "kind": "analysis", "text": "The court granted a temporary restraining order on the day of filing but on November 12, 2025, in a ruling on preliminary relief rather than the merits, denied the injunction that would have frozen the assets of James and James's companies, finding no substantial threat of irreparable injury; the judge said there was \"nothing showing that James, himself, was manipulating invoices\" but that the conduct \"was all done while James was CEO.\" James and the co-defendants moved to dismiss on December 15, 2025, arguing among other things that the fraud-based counts lacked the required particularity, and the parties stipulated on December 19, 2025 to extend the debtors' deadline to respond to January 19, 2026. In April 2026 the court let the United States intervene and stayed all discovery pending the criminal case, and on May 29, 2026 the district court dismissed the defendants' appeal of that stay for lack of jurisdiction. By June 2026 the debtors' suits against James and against Onset Financial, together seeking more than $2.7 billion, were stayed pending resolution of the criminal charges. The claims in both suits are unadjudicated allegations; James has denied the fraud allegations, and after the August 2026 plan ruling an Onset spokesperson said the rejection of the plan was another sign that the debtors' allegations against Onset lacked merit.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026", "src-049", "src-122", "src-069", "src-068", "src-039", "src-070" ], "entity_ids": [ "fbg", "patrick-james", "albion-realty", "alester", "bond-street", "ignite", "larchmont", "pegasus-aviation", "pj-trust", "battery-park", "quinn-emanuel", "edward-james", "onset" ] }, { "id": "display-claim-13e998ec7192d07402bf9062", "kind": "analysis", "text": "Later reports added figures but no ruling. The court-appointed examiner's redacted interim report of April 27, 2026 identified more than $700 million of transactions from First Brands to James or entities James controlled, including $720 million in 36 transfers from 2021 to 2025, and questioned deals such as a 2021 repurchase of FRAM brand rights that was structured so that about $9 million of additional funding went directly to James. In a July 2026 report the debtors' retained expert, Marc S. Kirschner, said First Brands paid $488 million in 2023 and 2024 for assets that entities controlled by James had bought for about $422 million. James responded on the day the examiner's report was filed that it was one-sided, mostly repeated the debtors' and the government's allegations and did not evaluate all relevant facts and parties evenhandedly, and has said the acquisitions reflected sound business judgment. On June 18, 2026 the court refused to raise the examiner's budget, and no later examiner report is in the record. The examiner's findings, known partly from press reports of the interim report, are preliminary and unadjudicated, and the expert's report is the opinion of an expert paid by the debtors' lawyers, whose merits the court did not assess when it denied the plan.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-050", "src-074", "src-085", "src-070" ], "entity_ids": [ "patrick-james", "fbg", "bleecker-group", "champion-labs", "albion-realty" ] }, { "id": "display-claim-6f8df1760365a0c0e8ac3dd5", "kind": "analysis", "text": "A federal grand-jury indictment in United States v. Patrick James and Edward James, 26 Cr. 29 (AT), was filed under seal in the Southern District of New York on January 27, 2026 and unsealed on January 29, 2026, when both brothers were arrested in the Northern District of Ohio. It alleges that from at least 2018 through 2025 they built and bankrupted First Brands through schemes in which the company faked and inflated invoices, double- and triple-pledged loan collateral, falsified financial statements and concealed liabilities from lenders. Patrick James faces nine counts, including managing a continuing financial crimes enterprise, wire and bank fraud and conspiracy to commit money laundering; the U.S. Attorney's chart lists a maximum of life on Count One and a 10-year minimum potential sentence, figures the prosecutors give for information only, with any sentence for a judge to determine. A spokesperson for Patrick James said Patrick James is presumed innocent, denies the charges, built First Brands from nothing into a global industry leader and looks forward to presenting the case in court; a lawyer for Edward James said Edward James had acted with integrity over decades of work and that counsel had complete confidence in Edward James. The charges are unproven accusations: both brothers pleaded not guilty on February 4, 2026, are presumed innocent unless proven guilty, and face a trial set for February 9, 2027.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-066", "src-005", "src-081" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ] }, { "id": "display-claim-69bffaa7e1d09e014201c238", "kind": "analysis", "text": "The indictment also alleges that Patrick James received at least hundreds of millions of dollars of gross proceeds into personal accounts and personally siphoned millions of dollars of off-balance-sheet lenders' funds before the money reached First Brands, and that James misled the company's outside auditors by repeatedly certifying that it had no related-party arrangements while billions of dollars of inventory had purportedly been sold to entities James wholly owned and controlled. These are accusations, not proven: at the arraignment on February 4, 2026 Patrick James pleaded not guilty to all nine counts, and the lawyer for Patrick James said it was \"very much Mr. James' intent to go into court and proclaim his innocence.\" Edward James pleaded not guilty to Counts Two through Nine.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-005", "src-066", "src-008", "src-081", "src-095" ], "entity_ids": [ "patrick-james", "fbg", "edward-james" ] }, { "id": "display-claim-ba2b6710c8747481dae1f097", "kind": "analysis", "text": "Patrick James was released on February 4, 2026 on a $50,000,000 personal recognizance bond to be co-signed by two financially responsible persons and secured by $5,000,000 in cash and a residence, with home detention, location monitoring, no private air travel and travel limited to the Southern and Eastern Districts of New York and the Northern District of Ohio; on June 17, 2026 the court granted a modification that a press report describes as replacing home detention with a curfew. In September 2026 Patrick James moved to sever the trials, to compel discovery and Brady/Giglio material held by First Brands Group, LLC and government entities, and to quash trial subpoenas served on TriState Capital Bank and another third party; an earlier motion to quash a grand-jury subpoena was denied on May 5, 2026. On September 30, 2026 the court said it would rule on the pending motions in due course; the last docket entry in the record is dated October 14, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-066", "src-065", "src-067" ], "entity_ids": [ "patrick-james", "edward-james", "fbg", "tristate-capital" ] }, { "id": "display-claim-a4f9505eaa4448abec78da2a", "kind": "analysis", "text": "The debtors' complaint describes companies controlled by James outside the group: the Patrick James Trust, created on March 10, 2005 with James as grantor; Battery Park Holdings LLC, which it says is 100% owned by James and received more than $10 million from First Brands from 2018 to 2025 to pay personal and family expenses; Larchmont LLC, which it says received about $35 million; the real-estate holding company Albion Realty LLC; and Bowery Finance II, a non-debtor entity it calls a \"slush fund\" through which nearly $12 billion flowed from 2022 through 2025. These are the debtors' descriptions and allegations, not adjudicated; at the preliminary-injunction stage the court found no evidence of likelihood of success on any claim against Albion Realty, Larchmont and four other corporate defendants, James's motion to dismiss says the complaint does not connect James to any double-pledging of collateral, and a spokesperson said James continues to deny the \"baseless accusations\". The complaint gives no amounts for Albion Realty or the other remaining defendants, and discovery in the suit has been stayed since April 2026 pending the criminal case; on May 29, 2026 the district court dismissed James's appeal of that stay.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-026", "src-003", "src-054", "src-069" ], "entity_ids": [ "patrick-james", "pj-trust", "albion-realty", "alester", "battery-park", "bond-street", "ignite", "larchmont", "pegasus-aviation", "quinn-emanuel", "fbg", "bowery-finance", "onset" ] }, { "id": "display-claim-27d22492471b8a9b47cec8f7", "kind": "analysis", "text": "James also owned companies outside the group. In a merger notification received by the European Commission on February 12, 2025 (case M. 11892), the notifying parties stated that Global Technologies S.à r.l., a 100% subsidiary of Global Technologies Partners, LLC, would acquire sole control of Novares Group SAS, and that Global Technologies Partners is ultimately owned by Patrick James, also the ultimate owner of First Brands Group, LLC. According to press reports of the examiner's interim report, preliminary findings that have not been adjudicated, First Brands paid about $31 million in connection with the sale of Novares subsidiaries whose North American operations were to sit within First Brands, without transfer documentation, and that the $31.1 million was not returned. James's response says those Novares Americas entities were treated operationally as part of the First Brands enterprise after the acquisition, that most of the funding came from a third-party financier, and that Global Technologies worked in good faith to finalise the transfer until the debtors abruptly discontinued discussions in late October 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-093", "src-050" ], "entity_ids": [ "gt-sarl", "gt-partners", "novares", "patrick-james", "fbg" ] }, { "id": "display-claim-a6fe865ab72fcdbf7de6dabd", "kind": "analysis", "text": "Press profiles published after the 2025 collapse (the corporate records of the ventures they describe were not retained) report that in the 1990s and 2000s James, with various business partners, bought Ohio auto-parts and metalworking plants through holding vehicles such as Viking Industries and Hawthorn Manufacturing, that James's companies sometimes did business with one another, and that James drew management fees from several ventures, which later lawsuits called \"lucrative\" and \"substantial\". A press profile of October 2025 says that well over a decade before First Brands collapsed James was fighting creditors in court over millions of dollars of defaulted debts and fending off allegations of fraud, and settled those cases before turning to consolidating the auto-parts sector with new borrowing. James's spokesperson linked these \"complex disputes\" to the aftermath of the financial crisis, said \"any allegations of improper dealings by Mr James were categorically false\" and said James had been \"deeply diligenced without any issue hundreds of times by hundreds of counterparties\".", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-007", "src-086" ], "entity_ids": [ "patrick-james", "hawthorn" ] }, { "id": "display-claim-eb84d07b33998d2c8e2f1a31", "kind": "analysis", "text": "According to press accounts, Worthington Steel claimed that in 2005 James personally guaranteed about $1.2 million in exchange for forbearance on an alleged loan default and, after a further alleged default, accused James of fraud, including instructing employees to destroy books and records to hide mismanagement. James denied the allegations, said James had been \"fraudulently induced\" into signing the guarantee and filed a counterclaim, and James's spokesperson called the suggestion that James ordered the destruction of evidence \"particularly egregious\" and \"patently absurd\"; the case was dismissed after the parties settled, with no court finding on the allegations in the record. On June 26, 2009 TriState Capital Bank sued James, Red Rock Stamping LLC and other companies under James's control in the Northern District of Ohio (No. 09-cv-01455), alleging that they repeatedly misled the bank about the nature and value of collateral, overstated eligible receivables, moved collateral inventory to a related entity without consideration and diverted management and consulting fees. The First Brands debtors' November 2025 complaint, which recounts the case (the 2009 pleadings themselves are not in the record), says it settled with James agreeing to pay $1 million; James's spokesperson has called the allegations in these earlier disputes \"categorically false\".", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-007", "src-086", "src-003" ], "entity_ids": [ "patrick-james", "tristate-capital", "red-rock-stamping" ] }, { "id": "display-claim-c4c4ad1fc1e9e3187462271d", "kind": "analysis", "text": "In 2011 Fortress Value Recovery Fund I, LLC sued in the Northern District of Ohio (No. 1:11-cv-00200) to recover a $6 million loan made to Columbus Components Group under a 2004 Amended Note Purchase Agreement with Brantley Mezzanine Finance. It alleged that James was the sole or controlling owner and chairman of Columbus Components, CCG Holdings, PJ Management Group and Hawthorn Manufacturing Corporation, that the companies shared employees and an address in Solon, Ohio, and that James used this web of companies to move funds to management companies to defraud creditors, and it asked the court to pierce the corporate veil. The defendants moved to dismiss, Hawthorn and James arguing that no alter-ego theory was adequately pleaded, but on March 28, 2011 U.S. District Judge James S. Gwin denied the motions, ruling only that the allegations were sufficient to proceed and noting that veil piercing is rarely permitted. According to the debtors' 2025 complaint, James's company later settled the suit for $6 million.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-075", "src-003" ], "entity_ids": [ "patrick-james", "columbus-components", "ccg-holdings", "pj-management", "hawthorn" ] }, { "id": "display-claim-8f261357aca515fbfca248d5", "kind": "analysis", "text": "The same complaint cites a suit filed by a number of plaintiffs in a Michigan circuit court on October 4, 2018 (No. 18-012988-CB) against Vari-Form Group, L.L.C. and others as a similar lawsuit against James. Citing securities filings and a person familiar with the matter, it says James allegedly promoted a segment of Vari-Form, which it calls James's conglomerate, as an independent asset and secured new debt financing from investors, and that Vari-Form filed for insolvency in Canada the following year. The 2018 pleadings are not in the record and no outcome of that suit is stated.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003" ], "entity_ids": [ "patrick-james", "vari-form" ] }, { "id": "display-claim-7915745682e0fc8f1b3aca76", "kind": "analysis", "text": "Patrick James and Edward James are listed as unpaid trustees of the Sandor Foundation of Chagrin Falls, Ohio, a private foundation recognised under section 501(c)(3), in its Form 990-PF returns through fiscal year 2022, according to return data published in a nonprofit database. Its return for 2024 lists a Michael Baker, not further identified, as an unpaid trustee and reports revenue of $2,010,721, almost all contributions, and charitable disbursements of $1,994,060. A press profile identifies that trustee as the former Paul Hastings partner who became First Brands' chief corporate strategy officer in 2021, and says Patrick James and the James family established the foundation in 2005.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-022", "src-086" ], "entity_ids": [ "sandor-foundation", "patrick-james", "edward-james", "michael-baker", "paul-hastings", "fbg" ] }, { "id": "display-claim-8f2342b9531af1805e7e1e92", "kind": "analysis", "text": "Edward James, also recorded as Ed James, is the brother of First Brands' founder Patrick James. First Brands' January 9, 2023 offer to purchase Horizon Global shares described Ed James as executive vice president of First Brands Group, LLC for more than five years, after earlier roles in finance, accounting and working capital solutions with the company and its predecessor, and listed Ed James as executive vice president of the offer vehicle PHX Merger Sub, Inc. from December 2022. Records differ on the last title: the offer document and the debtors' November 2025 complaint say executive vice president, while the U.S. Attorney's Office description of the indictment and First Brands' own statement on it call Edward James a former senior vice president; the records do not explain the difference.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-005", "src-008", "src-031", "src-013", "src-088", "src-003" ], "entity_ids": [ "patrick-james", "edward-james", "fbg", "michael-baker", "stephen-graham", "shekhar-kumar", "phx-merger-sub" ] }, { "id": "display-claim-c3c6d8cba7b04cdb45784eeb", "kind": "analysis", "text": "On September 25, 2025 Edward James resigned from all positions held as an officer, director, manager or board member at all First Brands entities, as did the chief corporate strategy officer, Michael Baker, according to the debtors' complaint. Edward James had also sat on boards in the Ultinon lighting business that First Brands bought: in a first-day declaration for the Ultinon debtors, their independent director, appointed only from November 21, 2025, said many of those boards consisted of the same \"FBG Appointees\", including Edward James and Michael Baker, and stated on information and belief that the appointees directed transfers of tens of millions of dollars of value out of the Ultinon business without receiving value in return. The statement identifies no specific transfer and no court has ruled on it; no claim against the appointees had been brought or decided in the record, and the Ultinon plan of liquidation, which leaves such decisions to the trustee of a litigation trust, was confirmed on August 20, 2026, with its effective date noticed on October 12, 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-104", "src-105", "src-112" ], "entity_ids": [ "michael-baker", "edward-james", "patrick-james", "fbg", "ultinon-holding", "fbgh" ] }, { "id": "display-claim-829f069284f5a580ba3b194f", "kind": "analysis", "text": "Edward James and Patrick James are listed as unpaid trustees of the Sandor Foundation, a private foundation in Chagrin Falls, Ohio, in its returns through fiscal year 2022, according to return data published in a nonprofit database. In the bankruptcy case Edward James appears on the docket as an interested party with separate counsel, like other former executives, and appealed the bankruptcy court's order on the directors' and officers' insurance policies; on April 24, 2026 Senior U.S. District Judge Lee H. Rosenthal refused the creditors' committee's motion to dismiss the Side A insurers' appeal of that order, noting that the insurers were in effect joining Edward James's appeal.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-022", "src-040", "src-097" ], "entity_ids": [ "sandor-foundation", "patrick-james", "edward-james", "michael-baker", "fbg", "stephen-graham", "peter-brumbergs", "shekhar-kumar", "jefferies-fg", "deva-capital" ] }, { "id": "display-claim-6632a912b56fa6571455b0d6", "kind": "analysis", "text": "A press profile of October 2025 reports that invoice lenders typically dealt with Edward James, who became the point man for what First Brands called \"working capital solutions\", and quotes an asset-backed lending specialist as saying that when the specialist's team asked to check a stock list against inventory on site, Edward James replied: \"We don't let lenders into the warehouse.\" The account is an unnamed lender's, as reported in the press; the publication said Edward James could not be reached for comment, and no response by Edward James to it is in the record.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-086" ], "entity_ids": [ "edward-james", "fbg" ] }, { "id": "display-claim-5e92ae5a62b43f6e72d557b5", "kind": "analysis", "text": "In a reply filed on February 3, 2026, in a contested dispute over the retention of its forensic adviser to which the Ad Hoc Group objected, the Official Committee of Unsecured Creditors said the adviser had identified more than $100 million personally received by Edward James through Optimus Private Capital LLC and JCMC Investment Group LLC, entities it says Edward James controlled, and that Edward James kept personal financial relationships with Onset Financial and other asset-based lenders to First Brands while controlling those relationships as a company executive. These are the committee's positions, not adjudicated findings; after the 2026 conversion to Chapter 7 the claims pass to the Chapter 7 trustee.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-052", "src-051" ], "entity_ids": [ "patrick-james", "edward-james", "optimus", "jcmc", "onset" ] }, { "id": "display-claim-3f95f02f0160cf044192f547", "kind": "analysis", "text": "In a report filed in July 2026 in support of the debtors' liquidating plan, as reported in the press, the debtors' retained expert Marc S. Kirschner alleged that Edward James held a $20.5 million interest in Helios Strategic Advisors, a broker that helped First Brands find financing for fees, part of which was used to funnel kickback payments to Edward James; that Leucadia Asset Management's 2023 request for a call and site visit with chief financial officer Stephen Graham was met with threats from Edward James; that Edward James insisted on being the only person to communicate with Onset and invested alongside Onset in the SPV transactions; and that financing statements were filed late after pushback from Edward James. These are unadjudicated opinions of an expert paid by the debtors' lawyers. Edward James has denied wrongdoing and pleaded not guilty in the criminal case on February 4, 2026; no response by Edward James or Helios to the expert's specific statements was found in the record. Onset denies wrongdoing, blames the James brothers for the collapse and describes itself as a victim that did business with First Brands in good faith. In August 2026 the court found the plan, which relied on these litigation claims, not feasible and ordered the cases into Chapter 7 liquidation.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-085", "src-091", "src-066", "src-084", "src-070" ], "entity_ids": [ "edward-james", "helios", "leucadia", "stephen-graham", "onset", "fbg", "carnaby-fa" ] }, { "id": "display-claim-020249bb752052d677b8f157", "kind": "analysis", "text": "Two suits filed in January 2026 make similar allegations. On January 5, 2026 a group of First Brands creditors accused Onset Financial of \"pillaging\" the company through usurious financing arrangements approved by Edward James, alleging that Onset in return agreed to pay Edward James hundreds of millions of dollars through additional fees and a right to invest personally in the financings. On January 9, 2026 First Brands sued Edward James and Onset in Houston, alleging that they conspired \"to defraud creditors out of billions of dollars and property\", with Edward James to \"work against the company as Onset's secret partner\"; the complaint says Edward James invested nearly $150 million alongside Onset hoping to extract nearly $280 million and that Onset and Edward James obtained over $2.3 billion in payments. Onset denied wrongdoing, blamed the James brothers for the collapse and called the debtors' claims a \"desperate attempt to blame a victim for doing business in good faith\". After the court rejected the debtors' plan in August 2026, an Onset spokesperson said the ruling showed the allegations against Onset \"wholly lack merit\". By June 2026 the debtors' suit had been stayed, together with the suit against Patrick James, pending resolution of the criminal charges against Patrick James.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-084", "src-070", "src-039" ], "entity_ids": [ "onset", "edward-james", "fbg" ] }, { "id": "display-claim-0b80e451754c5d4365e5c4e8", "kind": "analysis", "text": "The federal indictment in United States v. Patrick James and Edward James, 26 Cr. 29 (AT), filed under seal on January 27, 2026 and unsealed on January 29, 2026, when Edward James was arrested in the Northern District of Ohio, charges Edward James in Counts Two through Nine, including conspiracy to commit wire fraud affecting a financial institution and bank fraud, wire fraud, bank fraud and conspiracy to commit money laundering. It alleges that from at least 2018 through 2025 the brothers obtained billions of dollars of financing for First Brands and millions of dollars for themselves through faked and inflated invoices, double- and triple-pledged loan collateral and concealed liabilities; that the off-balance-sheet inventory financings were directed by Patrick James and negotiated by Edward James, who received millions of dollars in commission fees for brokering one of them; and that bank transfers were structured at Edward James's direction to mimic purchases and resales of inventory. Count Nine alleges a money-laundering conspiracy from at least 2022 through 2025, and the forfeiture the indictment seeks would require a conviction. These are unproven accusations: a lawyer for Edward James said Edward James had acted with integrity over decades of work, a spokesperson for Patrick James said Patrick James denies the charges, both pleaded not guilty on February 4, 2026 and are presumed innocent unless proven guilty, and trial is set for February 9, 2027.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-066", "src-005", "src-081", "src-008", "src-095" ], "entity_ids": [ "patrick-james", "edward-james", "fbg" ] }, { "id": "display-claim-e1fb459e2522f51072f85e77", "kind": "analysis", "text": "Edward James was released on February 4, 2026 on a $25,000,000 personal recognizance bond secured by $1,000,000 deposited with the court and by a residence, with home detention, location monitoring, no private air travel and travel limited to the Southern and Eastern Districts of New York and the Northern District of Ohio. On June 23, 2026 the court replaced home confinement with a curfew; Edward James's counsel wrote that the government and Pretrial Services did not object; a press report describes Patrick James's modification, granted on June 17, 2026, as a curfew, terms the docket entry does not state. Edward James had asked for a trial in the fall of 2026 and Patrick James for one in 2027; on May 8, 2026 the court set the jury trial for February 9, 2027. On September 4, 2026 Edward James moved to dismiss the indictment, to sever the trial, to suppress evidence obtained through search warrants and to preclude untimely disclosed evidence; on September 30, 2026 the court said it would rule on the pending motions in due course.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-066", "src-065", "src-067" ], "entity_ids": [ "edward-james", "patrick-james", "fbg" ] }, { "id": "display-claim-66494d6038d58b315d1eaeee", "kind": "analysis", "text": "Onset Financial, Inc. dealt not with First Brands Group, LLC directly but with special purpose vehicles (SPVs) that the debtors describe as subsidiaries of Viceroy Private Capital, LLC and Carnaby Capital Holdings, LLC; they are not subsidiaries of First Brands Group, LLC and not obligors under its term loans or asset-based lending (ABL) facility. Carnaby Inventory IV, LLC signed Master Lease Agreement No. OFI1445416 with Onset on June 28, 2022, and Carnaby FA, LLC signed Master Lease Agreement No. OFI1545465 on October 24, 2023. First Brands Group Holdings, LLC, Viceroy Private Capital, LLC, Carnaby Capital Holdings, LLC and other Carnaby companies guaranteed both leases; the Carnaby FA lease was also guaranteed by Eagle Casting Holdings, LLC and Eagle Casting, LLC, which also guarantees the senior credit facilities.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "viceroy", "carnaby-holdings", "fbg", "carnaby-iv", "carnaby-fa", "onset", "fbgh" ] }, { "id": "display-claim-72406eb56ddf4cf68041c9ea", "kind": "analysis", "text": "Under the leases Onset lends funds to Carnaby Inventory IV to acquire inventory or equipment from First Brands Group, LLC on Onset's behalf; the goods are leased back to Carnaby IV and may ultimately be repurchased by First Brands. The debtors said they believe the master leases may not be true leases and reserved the right to have them recharacterised as financings. Including interest, fees and forbearance fees, about $1.9 billion was outstanding under the master leases and related forbearances at the petition date, and the group's annual debt service of more than $900 million was stated before counting any obligations under the Onset master leases.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "onset", "carnaby-iv", "fbg" ] }, { "id": "display-claim-a0ad3be01b11ce0fdc768a87", "kind": "analysis", "text": "Carnaby Inventory IV and Carnaby FA failed to make monthly payments of about $208 million due on May 1, 2025 and entered a first forbearance with Onset that day, extending the deadline to May 30, 2025 in exchange for late and forbearance fees of about $35 million. After they also missed June payments of $198.5 million, a second forbearance of June 1, 2025 extended the deadlines to June 27 and July 27, 2025 for fees of about $73.5 million and an additional monthly payment of about $223 million. A third forbearance of June 30, 2025 restructured the schedules to total payments of $1.9 billion, about $380 million more than was due before the first forbearance: $20 million by July 3, 2025, which was paid, $570 million on August 29, 2025, monthly payments through August 20, 2026 and a $645 million balloon payment on August 31, 2026. In connection with it Viceroy Private Capital, LLC pledged 15% of its membership interests in First Brands Group Holdings, LLC to Onset. When the $570 million payment was missed, Onset delivered a notice of default and acceleration on September 9, 2025.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001" ], "entity_ids": [ "carnaby-iv", "carnaby-fa", "onset", "viceroy", "fbgh" ] }, { "id": "display-claim-245b702103fbe62b18228262", "kind": "analysis", "text": "In the Chapter 11 case Onset appears among the creditors on the docket and took part, with the creditors' committee, the company and others, in the negotiations that preceded the court's November 7, 2025 approval of the debtor-in-possession (DIP) financing, $1.1 billion of new money with a $3.3 billion roll-up of earlier loans. Patrick James's lawyers, in arguments the court has not ruled on, said Onset charged onerous fees, that its guaranty from Viceroy Private Capital was \"more consistent with a commercial payday loan\" than with equipment lending, and that the \"predatory practices\" of such lenders drove the company into default; the debtors' own first-day declaration also names lease obligations, particularly to Onset, alongside tariffs and mounting debt among the causes of the liquidity crisis.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-040", "src-035", "src-074", "src-025", "src-026", "src-049", "src-001" ], "entity_ids": [ "fbg", "raistone", "evolution-cp", "factofrance", "ing-belgium", "mitsubishi-hc", "onset", "store-capital", "bdo", "patrick-james", "viceroy" ] }, { "id": "display-claim-66605f440e41acd991f2bcd8", "kind": "analysis", "text": "In January 2026 Onset became a defendant. On January 5, 2026 a group of First Brands creditors accused Onset of \"pillaging\" the company through usurious financing arrangements approved by Edward James, alleging that Onset in return agreed to pay Edward James hundreds of millions of dollars through additional fees and a right to invest personally in the financings. On January 9, 2026 First Brands sued Onset and Edward James, alleging that they conspired \"to defraud creditors out of billions of dollars and property\"; the complaint says Onset and Edward James obtained over $2.3 billion in payments and that First Brands had also transferred more than $600 million in cash to Onset as of September, about $2.9 billion in total. Neither suit's allegations have been adjudicated, and by June 2026 the debtors' suit had been stayed pending resolution of the criminal charges against Patrick James. Onset denied wrongdoing, blamed the James brothers for the collapse and called the debtors' claims a \"desperate attempt to blame a victim for doing business in good faith\"; after the plan was rejected in August 2026 an Onset spokesperson said the ruling showed the allegations against Onset \"wholly lack merit\".", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-084", "src-070", "src-039" ], "entity_ids": [ "onset", "edward-james", "fbg" ] }, { "id": "display-claim-d2eb3ea1296260560660ffef", "kind": "analysis", "text": "In a motion to dismiss the debtors' suit, reported in March 2026, Onset said it had funded nearly $3 billion to First Brands from 2018 to 2025, secured by inventory and equipment, that it was still owed at least $2.17 billion at the Chapter 11 filing, and that it and its funding partners, like other lenders, had been deceived by falsified inventory schedules, fake account documentation and collateral that was often double- or triple-pledged to different lenders. That is Onset's own account in pending litigation, where the debtors allege the opposite and no claim has been adjudicated.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-121", "src-084" ], "entity_ids": [ "onset", "fbg" ] }, { "id": "display-claim-a62ebd90a9aa439e99be5455", "kind": "analysis", "text": "The debtors' retained expert, Marc S. Kirschner, said in a July 2026 report filed in support of the plan, as reported in the press, that Onset lent more than $2 billion through Carnaby FA under a structure in which the SPV bought inventory or equipment from a First Brands company, sold it to Onset and leased it back, that the facility could not operate as papered because the SPV had to buy and replace inventory and service debt to Onset at interest rates of up to about 200%, and that Onset should have known this was impossible; the triple-digit rates, the expert said, would be substantial evidence that the transactions were made for inadequate consideration. These are unadjudicated opinions. Onset denies wrongdoing and calls itself a victim that did business in good faith; no response by Edward James to the expert's statements was found, and Edward James pleaded not guilty in the criminal case on February 4, 2026. In August 2026 the court found the plan, which relied on these litigation claims, not feasible and ordered the cases into Chapter 7 liquidation.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-085", "src-084", "src-066", "src-070" ], "entity_ids": [ "onset", "carnaby-fa", "edward-james" ] }, { "id": "display-claim-76c6071d5e3c202abbad103a", "kind": "analysis", "text": "Separately, the estate's suit against Patrick James alleges that of more than $1 billion of financing First Brands received from Onset between April 2024 and March 2025, over approximately $200 million went to Patrick James or James's affiliated entities, for example about $17 million paid to the Patrick James Trust on April 4, 2025, the day Carnaby FA received $67.2 million from Onset. These allegations have not been adjudicated; Patrick James's motion to dismiss says the complaint gives no date, time or transferor for that $200 million.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-003", "src-026" ], "entity_ids": [ "patrick-james", "pj-trust", "onset", "carnaby-fa", "carnaby-iv", "viceroy", "fbg" ] }, { "id": "display-claim-3b82c902eff6e584b96d6a6d", "kind": "analysis", "text": "The debtors' June 8, 2026 liquidating plan proposed to place the claims against Onset, which the debtors say involve more than $2 billion of alleged fraudulent transfers, in a litigation trust, and the debtors' July 2026 filings named Onset among third-party financiers against which more than $25 billion was potentially available, an estimate of a potential claim universe rather than a valuation. Onset objected to the plan. By June 2026 the debtors' suits against Onset and against Patrick James, together seeking more than $2.7 billion, were stayed pending resolution of the criminal charges against Patrick James. The court refused to confirm the plan on August 24, 2026 without assessing the merits of these claims and converted the remaining cases to Chapter 7 on September 1, 2026; an Onset spokesperson said the rejection of the plan was another sign that the debtors' allegations against Onset lacked merit. Patrick James has denied the fraud allegations.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-061", "src-025", "src-070", "src-039" ], "entity_ids": [ "fbg", "patrick-james", "edward-james", "onset", "katsumi", "leucadia", "jefferies-fg" ] }, { "id": "display-claim-4a32c9e0dcbee666d9e1d4de", "kind": "analysis", "text": "A separate dispute concerns one lease schedule. Planters Bank, whose parent is Planters Holding Company, Inc., sued Onset on June 8, 2026 in the U.S. District Court for the Eastern District of Louisiana (No. 2:26-cv-01230), attaching a master lease, master lease schedule 28, a UCC-1 financing statement and an assignment. Onset moved to dismiss the complaint under Rules 12(b)(6) and 12(b)(1) or, in the alternative, to transfer it; on September 24, 2026 Judge Carl J. Barbier dismissed the first claim without prejudice and transferred claims two to six to the Southern District of Texas, where the action is pending as adversary proceeding 4:26-ap-03683 in the First Brands case. No ruling on the merits is recorded.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-076" ], "entity_ids": [ "planters-bank", "onset", "fbg" ] }, { "id": "display-claim-9c4d8c339967342d32a17f8b", "kind": "analysis", "text": "In a letter published on October 12, 2025, the chief executive and president of Jefferies Financial Group Inc. said First Brands sold receivables to the Point Bonita fund under a Master Receivables Purchase Agreement that included a fee letter; the agreement had been listed for years on the schedules to First Brands' credit agreement with all its first-lien and second-lien lenders, the fees went to the fund's investors, and outside counsel for First Brands had opined that they did not breach the credit agreement. Jefferies put its own investments at $43 million, or 5.9%, of the receivables Point Bonita purchased from First Brands, plus a $2 million interest in First Brands' bank loans through Jefferies Finance's Apex platform.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-027" ], "entity_ids": [ "jefferies-fg", "point-bonita", "fbg", "jefferies-finance" ] }, { "id": "display-claim-6c3baa74829813debab79e56", "kind": "analysis", "text": "How the fund relates to Jefferies is described in two ways. A petition filed in the Southern District of New York by Patrick James and related companies states that Jefferies Financial Group Inc. owns Leucadia Asset Management, LLC, which it calls Jefferies' asset-management arm, as well as Point Bonita Capital, LAM Trade Finance Group LLC, LAM Trade Finance Group I SPV LLC and LAM Trade Finance Group II LLC; Jefferies' own letter refers to Point Bonita as a fund in which Jefferies is a 5.9% investor and to Leucadia Asset Management communicating with the fund's investors. The debtors' creditor list names Leucadia Asset Management's Trade Finance Group, identified as Jefferies', among four factoring counterparties whose claims are contingent, unliquidated and disputed.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-049", "src-027", "src-002" ], "entity_ids": [ "patrick-james", "jefferies-fg", "leucadia", "point-bonita", "lam-tfg", "lam-tfg-i", "lam-tfg-ii", "fbg", "evolution-cp", "katsumi", "raistone" ] }, { "id": "display-claim-2d487e26ed38f3c6ebc4181b", "kind": "analysis", "text": "Jefferies said the fund bought around $715 million of uncollected First Brands invoices. A press report quoted in Patrick James's motion to dismiss said Leucadia had been buying First Brands' expected payments from retailers since 2019, had become one of its biggest financiers and received near-daily payments from First Brands as customers paid the invoices Point Bonita held. According to a press investigation, Raistone and Point Bonita said before the bankruptcy that the risk of their First Brands receivables lay mainly with the blue-chip customers named on the invoices, but revealed afterwards that they had never received funds from those customers directly: the money had come back to them through First Brands. These are figures and accounts given by Jefferies and the press, not court findings. Prosecutors later alleged that many of the First Brands invoices were faked or inflated.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-012", "src-026", "src-086" ], "entity_ids": [ "jefferies-fg", "point-bonita", "leucadia", "fbg", "patrick-james", "raistone" ] }, { "id": "display-claim-2c3615bd32e56984abf44188", "kind": "analysis", "text": "In the same letter Jefferies said that nobody at Jefferies was aware of fraudulent activity at First Brands and that it learned of the fraud allegations when the public did, after First Brands stopped remitting to Point Bonita the cash collected on receivables the fund owned. It said Leucadia Asset Management had agreed with the fund's investors that they should submit redemption requests effective December 31, 2025, leading to four quarterly redemption payments ending in October 2026.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-027" ], "entity_ids": [ "jefferies-fg", "point-bonita", "leucadia", "fbg" ] }, { "id": "display-claim-f905f92b42366887c9b0d87c", "kind": "analysis", "text": "In the bankruptcy, Leucadia Asset Management and the three LAM entities appear on the docket as interested parties. In an objection to the debtors' factoring procedures motion, Leucadia and its affiliated LAM Parties said the debtors had admitted committing a massive fraud on them and other third-party factors, acknowledging that many of the receivables they sold were fake or inflated, so that hundreds of millions of dollars were taken from LAM alone. That is a creditor's characterisation in a contested filing; the debtors' first-day declaration describes the factoring practices as under investigation, and Patrick James's counsel said Jefferies and its affiliates had not provided evidence for the allegations. On December 31, 2025 the court authorised a release of funds and adjourned the remaining factoring-procedures matters.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-040", "src-049", "src-074" ], "entity_ids": [ "fbg", "leucadia", "lam-tfg", "lam-tfg-i", "lam-tfg-ii", "patrick-james", "quinn-emanuel" ] }, { "id": "display-claim-b58685f17cab205a21ca93f4", "kind": "analysis", "text": "The debtors later pointed at Leucadia itself. Their retained expert, Marc Kirschner, said in July 2026 that Leucadia became suspicious of First Brands in 2023, sending questions about receivables and financing and asking for a call and an on-site visit with chief financial officer Stephen Graham, a request Kirschner said was met with threats from Edward James, and argued that Leucadia should have been aware of potentially fraudulent activity from 2023 onwards; the debtors' July 2026 filings named Leucadia among third-party financiers against which more than $25 billion was potentially available, an estimate of a potential claim universe rather than a valuation. Jefferies had said in October 2025 that nobody at Jefferies was aware of fraudulent activity. Leucadia opposed the debtors' plan, which the court rejected on August 24, 2026 without assessing the expert's arguments or the merits of these claims. Onset and Patrick James, also named as litigation targets, have rejected the allegations against them.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-085", "src-070", "src-027", "src-025" ], "entity_ids": [ "leucadia", "fbg", "stephen-graham", "edward-james", "jefferies-fg", "katsumi", "onset", "patrick-james" ] }, { "id": "display-claim-4c6adc5d0ce74a66f48b4a4c", "kind": "analysis", "text": "In March 2026 Western Alliance said it was suing Jefferies Financial for not completing payment of $126.4 million owed on loans tied to First Brands and collateralised by receivables purchased from First Brands. Jefferies replied that Western Alliance had not extended credit to Jefferies but had for over four years made non-recourse loans, without any Jefferies guarantee, to special purpose entities holding First Brands receivables, LAM Trade Finance Group and LAM TFG I SPV LLC, both owned by the Point Bonita master fund; it denied any obligation to repay them and called the statement that it \"couldn't\" repay $126 million false and absurd. The parties' positions are known from press reports and no ruling is in the record.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-121" ], "entity_ids": [ "jefferies-fg", "lam-tfg", "lam-tfg-i", "point-bonita", "fbg" ] }, { "id": "display-claim-01ea9be968e876911146973a", "kind": "analysis", "text": "Investors in two British Virgin Islands funds also sued over the Point Bonita fund, saying it had claimed to have cash dominion over receivables from First Brands while First Brands in fact retained control of them and may have used them to commit fraud; they sought $18.4 million in damages, according to a March 2026 press report. No response or ruling in that suit is in the record.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-121" ], "entity_ids": [ "point-bonita", "fbg" ] }, { "id": "display-claim-a38c8f048dca1306157b978f", "kind": "analysis", "text": "Jefferies and its affiliates are also the target of discovery in the estate's suit against Patrick James. The defendants served a document subpoena on Jefferies Financial Group Inc. on December 2, 2025 and identical subpoenas on Leucadia Asset Management, Point Bonita Capital and the three LAM entities, opened a case in the Southern District of New York (No. 1:26-mc-00007) on January 7, 2026 to compel Jefferies to comply, and on January 9, 2026 Judge Edgardo Ramos approved the parties' stipulation transferring the matter to the bankruptcy court in Texas.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-049", "src-078" ], "entity_ids": [ "patrick-james", "jefferies-fg", "leucadia", "point-bonita", "lam-tfg", "lam-tfg-i", "lam-tfg-ii", "pj-trust", "albion-realty", "alester", "battery-park", "bond-street", "ignite", "larchmont", "pegasus-aviation" ] }, { "id": "display-claim-1d6839617225ee848851d25d", "kind": "analysis", "text": "A press report published in October 2025 states that in 2014 Jefferies provided a loan for Patrick James's acquisition of Trico Products, described as the foundation of what became First Brands, and went on to conclude deal after deal with the group; the loan documents are not in the record, and Jefferies' chief executive was quoted as emphasising that First Brands had engaged with a range of banks and Wall Street firms over the previous ten years. In the sale of Horizon Global, Jefferies LLC advised Horizon and contacted First Brands Group, LLC about a possible transaction on July 28, 2022. Because Jefferies had provided financing services to First Brands in five earlier transactions since 2020, Horizon's Strategic Alternatives Committee decided on November 12, 2022 that Jefferies could also finance First Brands if it became the acquirer.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-086", "src-087", "src-013" ], "entity_ids": [ "jefferies-fg", "patrick-james", "trico-products", "fbg", "jefferies-llc", "horizon-global", "stephen-graham" ] }, { "id": "display-claim-1539ab894bd91d4d740ff934", "kind": "analysis", "text": "Jefferies Finance LLC, a 50/50 joint venture of MassMutual and Jefferies according to Jefferies, is administrative and collateral agent, as successor to Credit Suisse AG, Cayman Island Branch, under First Brands' First Lien Term Loan Agreement of February 2, 2018 and Second Lien Term Loan Agreement of February 26, 2019. At the petition date the first-lien lenders were owed approximately $4,625,413,695.97 of principal and second-lien term loans of $540 million were outstanding. The GLEIF record of Jefferies Finance LLC (LEI 549300SKVB18YSSIDT75) gives its previous legal name as Jefferies Babson Finance LLC and its Delaware registration number as 3833598.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-001", "src-023", "src-037", "src-027" ], "entity_ids": [ "fbg", "fbgi", "jefferies-finance", "goldman-sachs-bank", "jefferies-fg" ] }, { "id": "display-claim-99b1ececaf748e01507d262d", "kind": "analysis", "text": "Jefferies said that collateralised loan obligations managed through Jefferies Finance's subsidiary Apex Credit Partners owned $48 million principal amount of First Brands term loans with a market value of about $17 million and had participated in $8.8 million of the DIP financing. It said that, apart from one $300 million loan in 2023 that Jefferies underwrote, every First Brands financing it arranged in the previous ten years was on a best-efforts basis, and that the 2025 refinancing did not proceed because a quality-of-earnings report requested of and promised by First Brands was never delivered.", "qualification": "", "response": "", "outcome": "", "source_ids": [ "src-027" ], "entity_ids": [ "jefferies-fg", "jefferies-finance", "fbg" ] } ], "sources": [ { "id": "src-001", "title": "Court record source · src-001", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "corporate", "url": "" }, { "id": "src-002", "title": "Court record source · src-002", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "corporate", "url": "" }, { "id": "src-003", "title": "Court record source · src-003", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "corporate", "url": "" }, { "id": "src-004", "title": "Corporate registry source · src-004", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "corporate_registry", "publisher_type": "corporate", "url": "" }, { "id": "src-005", "title": "First Brands Executives Charged With Multibillion-Dollar Fraud", "publisher": "U.S. Attorney's Office, Southern District of New York", "date": "2026-01-29", "locator": "Press release of January 29, 2026", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "regulatory_record", "publisher_type": "government", "url": "https://www.justice.gov/usao-sdny/pr/first-brands-executives-charged-multibillion-dollar-fraud" }, { "id": "src-006", "title": "Media source · src-006", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-007", "title": "Other source · src-007", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "other", "publisher_type": "nonprofit", "url": "" }, { "id": "src-008", "title": "Indictment, United States v. Patrick James and Edward James, 26 Cr. 29 (S.D.N.Y.)", "publisher": "U.S. Attorney's Office, Southern District of New York", "date": "2026-01-27", "locator": "Indictment, Counts One to Nine and forfeiture allegations", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "court_record", "publisher_type": "government", "url": "https://www.justice.gov/usao-sdny/media/1425811/dl" }, { "id": "src-009", "title": "Company statement source · src-009", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "company_statement", "publisher_type": "corporate", "url": "" }, { "id": "src-010", "title": "Other source · src-010", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "other", "publisher_type": "unknown", "url": "" }, { "id": "src-011", "title": "Media source · src-011", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-012", "title": "Media source · src-012", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-013", "title": "Offer to Purchase for all shares of Horizon Global Corporation by PHX Merger Sub, Inc., a wholly owned subsidiary of First Brands Group, LLC (Schedule TO, Exhibit (a)(1)(A))", "publisher": "U.S. Securities and Exchange Commission (EDGAR)", "date": "2023-01", "locator": "Offer to Purchase, sections 8-11 and Schedule I", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "company_statement", "publisher_type": "regulator", "url": "https://www.sec.gov/Archives/edgar/data/1637655/000119312523004962/d433995dex99a1a.htm" }, { "id": "src-014", "title": "Enjoy Technology, Inc. current report on Form 8-K (event of May 20, 2022)", "publisher": "U.S. Securities and Exchange Commission (EDGAR)", "date": "2022-05-20", "locator": "Item 5.02", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "company_statement", "publisher_type": "regulator", "url": "https://www.sec.gov/Archives/edgar/data/1830180/000119312522161131/d290619d8k.htm" }, { "id": "src-015", "title": "ModivCare Inc. current report on Form 8-K (event of December 23, 2024)", "publisher": "U.S. Securities and Exchange Commission (EDGAR)", "date": "2024-12-23", "locator": "Item 5.02", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "company_statement", "publisher_type": "regulator", "url": "https://www.sec.gov/Archives/edgar/data/1220754/000143774924038405/modv20241224_8k.htm" }, { "id": "src-016", "title": "Court record source · src-016", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "government", "url": "" }, { "id": "src-017", "title": "Corporate registry source · src-017", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "corporate_registry", "publisher_type": "corporate", "url": "" }, { "id": "src-018", "title": "Company statement source · src-018", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "company_statement", "publisher_type": "corporate", "url": "" }, { "id": "src-019", "title": "Company statement source · src-019", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "company_statement", "publisher_type": "corporate", "url": "" }, { "id": "src-020", "title": "Company statement source · src-020", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "company_statement", "publisher_type": "corporate", "url": "" }, { "id": "src-021", "title": "Company statement source · src-021", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "company_statement", "publisher_type": "corporate", "url": "" }, { "id": "src-022", "title": "Other source · src-022", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "other", "publisher_type": "nonprofit", "url": "" }, { "id": "src-023", "title": "Court record source · src-023", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "corporate", "url": "" }, { "id": "src-024", "title": "Palmer Square Capital BDC Inc. registration statement on Form N-2", "publisher": "U.S. Securities and Exchange Commission (EDGAR)", "date": "2024-07-23", "locator": "Schedule of investments", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "company_statement", "publisher_type": "regulator", "url": "https://www.sec.gov/Archives/edgar/data/1794776/000121390024063583/ea0208908-01_n2.htm" }, { "id": "src-025", "title": "Media source · src-025", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-026", "title": "Court record source · src-026", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "corporate", "url": "" }, { "id": "src-027", "title": "Company statement source · src-027", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "company_statement", "publisher_type": "corporate", "url": "" }, { "id": "src-028", "title": "Other source · src-028", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "other", "publisher_type": "corporate", "url": "" }, { "id": "src-029", "title": "Officer/registered agent search results listing FRAMAUTO HOLDINGS, LLC", "publisher": "Florida Department of State, Division of Corporations", "date": "", "locator": "Search results", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "corporate_registry", "publisher_type": "government", "url": "https://search.sunbiz.org/Inquiry/CorporationSearch/SearchResults?InquiryType=OfficerRegisteredAgentName&inquiryDirectionType=PreviousList&searchNameOrder=FRAMBESBRIAN+P100000221461&SearchTerm=Framar+18+Llc&entityId=P10000022146&listNameOrder=FRAMBESBRIAN+P100000221461" }, { "id": "src-030", "title": "Filing detail of FRAM GROUP OPERATIONS LLC, document M11000001713", "publisher": "Florida Department of State, Division of Corporations", "date": "", "locator": "Detail by officer/registered agent name", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "corporate_registry", "publisher_type": "government", "url": "https://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail?inquirytype=OfficerRegisteredAgentName&directionType=PreviousList&searchNameOrder=FRAMAUTOHOLDINGSLLC%20M110000017139&aggregateId=forl-m11000001713-639ef863-0a0c-401e-b380-6c8fe56d35d4&searchTerm=Framar%2018%20Llc&listNameOrder=FRAMARENTERPRISESINC%20L140001922490" }, { "id": "src-031", "title": "Horizon Global Corporation current report on Form 8-K (event of February 8, 2023)", "publisher": "U.S. Securities and Exchange Commission (EDGAR)", "date": "2023-02-08", "locator": "Items 2.01, 5.01, 5.02", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "company_statement", "publisher_type": "regulator", "url": "https://www.sec.gov/Archives/edgar/data/1637655/000119312523028092/d391766d8k.htm" }, { "id": "src-032", "title": "Trico Limited (00234268): persons with significant control", "publisher": "Companies House", "date": "", "locator": "PSC register", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "corporate_registry", "publisher_type": "registry_operator", "url": "https://find-and-update.company-information.service.gov.uk/company/00234268/persons-with-significant-control" }, { "id": "src-033", "title": "Trico Limited (00234268): charges", "publisher": "Companies House", "date": "", "locator": "Charges register", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "corporate_registry", "publisher_type": "registry_operator", "url": "https://find-and-update.company-information.service.gov.uk/company/00234268/charges" }, { "id": "src-034", "title": "LEI record 5493007R3NKBCPN50M70 (Brake Parts Inc LLC)", "publisher": "Global Legal Entity Identifier Foundation", "date": "2026-10-15", "locator": "LEI record", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "corporate_registry", "publisher_type": "registry_operator", "url": "https://api.gleif.org/api/v1/lei-records/5493007R3NKBCPN50M70" }, { "id": "src-035", "title": "Other source · src-035", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "other", "publisher_type": "corporate", "url": "" }, { "id": "src-036", "title": "Media source · src-036", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-037", "title": "LEI record 549300SKVB18YSSIDT75 (Jefferies Finance LLC)", "publisher": "Global Legal Entity Identifier Foundation", "date": "2026-10-15", "locator": "LEI record", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "corporate_registry", "publisher_type": "registry_operator", "url": "https://api.gleif.org/api/v1/lei-records/549300SKVB18YSSIDT75" }, { "id": "src-038", "title": "LEI full-text search for 'FIRST BRANDS GROUP'", "publisher": "Global Legal Entity Identifier Foundation", "date": "2026-10-15", "locator": "Search result", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "corporate_registry", "publisher_type": "registry_operator", "url": "https://api.gleif.org/api/v1/lei-records?filter[fulltext]=FIRST%20BRANDS%20GROUP" }, { "id": "src-039", "title": "Media source · src-039", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-040", "title": "Court record source · src-040", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "corporate", "url": "" }, { "id": "src-041", "title": "Company statement source · src-041", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "company_statement", "publisher_type": "corporate", "url": "" }, { "id": "src-042", "title": "Company statement source · src-042", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "company_statement", "publisher_type": "corporate", "url": "" }, { "id": "src-043", "title": "Trico Limited (00234268): officers", "publisher": "Companies House", "date": "", "locator": "Officers list", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "corporate_registry", "publisher_type": "registry_operator", "url": "https://find-and-update.company-information.service.gov.uk/company/00234268/officers" }, { "id": "src-044", "title": "Officer appointments of Shekhar Kumar", "publisher": "Companies House", "date": "", "locator": "Officer appointments", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "corporate_registry", "publisher_type": "registry_operator", "url": "https://find-and-update.company-information.service.gov.uk/officers/RYV2DgsaBo4c4Y9tFqDfTlYbnIs/appointments" }, { "id": "src-045", "title": "Officer appointments of Stephen Edward Graham", "publisher": "Companies House", "date": "", "locator": "Officer appointments", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "corporate_registry", "publisher_type": "registry_operator", "url": "https://find-and-update.company-information.service.gov.uk/officers/f_A4xI3eaSnoauet8QhOWFIc_oY/appointments" }, { "id": "src-046", "title": "Officer appointments of Michael Baker", "publisher": "Companies House", "date": "", "locator": "Officer appointments", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "corporate_registry", "publisher_type": "registry_operator", "url": "https://find-and-update.company-information.service.gov.uk/officers/wy3UBZAG-YnQ8pxPzg7KLxQaKgY/appointments" }, { "id": "src-047", "title": "Media source · src-047", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-048", "title": "Media source · src-048", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-049", "title": "Court record source · src-049", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "corporate", "url": "" }, { "id": "src-050", "title": "Media source · src-050", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-051", "title": "Media source · src-051", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-052", "title": "Media source · src-052", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-053", "title": "Media source · src-053", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-054", "title": "Media source · src-054", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-055", "title": "Carronade Capital Management additional definitive proxy materials (DFAN14A) concerning Cannae Holdings", "publisher": "U.S. Securities and Exchange Commission (EDGAR)", "date": "2025-10-28", "locator": "Nominee biographies", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "company_statement", "publisher_type": "regulator", "url": "https://www.sec.gov/Archives/edgar/data/1866872/000092189525002818/dfan14a14229002_10282025.htm" }, { "id": "src-056", "title": "LEI full-text search for 'TOLEDO MOLDING'", "publisher": "Global Legal Entity Identifier Foundation", "date": "2026-10-15", "locator": "Search result", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "corporate_registry", "publisher_type": "registry_operator", "url": "https://api.gleif.org/api/v1/lei-records?filter[fulltext]=TOLEDO%20MOLDING" }, { "id": "src-057", "title": "LEI full-text search for 'HORIZON GLOBAL COMPANY'", "publisher": "Global Legal Entity Identifier Foundation", "date": "2026-10-15", "locator": "Search result", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "corporate_registry", "publisher_type": "registry_operator", "url": "https://api.gleif.org/api/v1/lei-records?filter[fulltext]=HORIZON%20GLOBAL%20COMPANY" }, { "id": "src-058", "title": "Direct-parent relationship record for LEI 5493008GNLKFHQAI0W11 (Horizon Global Company LLC)", "publisher": "Global Legal Entity Identifier Foundation", "date": "2026-10-15", "locator": "Direct parent record", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "corporate_registry", "publisher_type": "registry_operator", "url": "https://api.gleif.org/api/v1/lei-records/5493008GNLKFHQAI0W11/direct-parent" }, { "id": "src-059", "title": "Other source · src-059", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "other", "publisher_type": "corporate", "url": "" }, { "id": "src-060", "title": "Media source · src-060", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-061", "title": "Media source · src-061", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-062", "title": "Media source · src-062", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-063", "title": "Media source · src-063", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-064", "title": "Company statement source · src-064", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "company_statement", "publisher_type": "corporate", "url": "" }, { "id": "src-065", "title": "Media source · src-065", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-066", "title": "Court record source · src-066", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "nonprofit", "url": "" }, { "id": "src-067", "title": "Court record source · src-067", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "nonprofit", "url": "" }, { "id": "src-068", "title": "Court record source · src-068", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "government", "url": "" }, { "id": "src-069", "title": "Court record source · src-069", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "government", "url": "" }, { "id": "src-070", "title": "Media source · src-070", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-071", "title": "Media source · src-071", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-072", "title": "Media source · src-072", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-073", "title": "Media source · src-073", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-074", "title": "Media source · src-074", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-075", "title": "Court record source · src-075", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "government", "url": "" }, { "id": "src-076", "title": "Court record source · src-076", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "corporate", "url": "" }, { "id": "src-077", "title": "Court record source · src-077", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "corporate", "url": "" }, { "id": "src-078", "title": "Court record source · src-078", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "nonprofit", "url": "" }, { "id": "src-079", "title": "Media source · src-079", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-080", "title": "Other source · src-080", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "other", "publisher_type": "corporate", "url": "" }, { "id": "src-081", "title": "Media source · src-081", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-082", "title": "Media source · src-082", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-083", "title": "Media source · src-083", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-084", "title": "Media source · src-084", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-085", "title": "Media source · src-085", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-086", "title": "Media source · src-086", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-087", "title": "Company statement source · src-087", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "company_statement", "publisher_type": "corporate", "url": "" }, { "id": "src-088", "title": "Company statement source · src-088", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "company_statement", "publisher_type": "corporate", "url": "" }, { "id": "src-089", "title": "WARN notices of First Brands Group, LLC on the closure of Eagle Machining, Fayette, Ohio (December 29, 2025; updated January 27, 2026)", "publisher": "Ohio Department of Job and Family Services (filed notices)", "date": "2026-01-27", "locator": "Notices and attachment", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "regulatory_record", "publisher_type": "government", "url": "https://dam.assets.ohio.gov/image/upload/v1769548431/jfs.ohio.gov/warn/WARN%202025/Updated_Eagle_Machining_First_Brands.pdf" }, { "id": "src-090", "title": "Media source · src-090", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-091", "title": "Media source · src-091", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-092", "title": "Media source · src-092", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-093", "title": "Case M.11892 Global Technologies / Novares Group: summary of the notification (Short Form CO, section 4)", "publisher": "European Commission, Directorate-General for Competition", "date": "2025-02-12", "locator": "Section 4 summary", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "regulatory_record", "publisher_type": "intergovernmental", "url": "https://ec.europa.eu/competition/mergers/cases1/202508/M_11892_10514605_56_3.pdf" }, { "id": "src-094", "title": "Letter of the House Select Committee on the CCP and other members of Congress to the CEO of First Brands Group on Qingdao Sunsong", "publisher": "U.S. House of Representatives, Select Committee on the CCP", "date": "2024-09-04", "locator": "Letter of September 4, 2024", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "other", "publisher_type": "government", "url": "https://chinaselectcommittee.house.gov/sites/evo-subsites/selectcommitteeontheccp.house.gov/files/evo-media-document/Letter%20to%20First%20Brands%20Group%20-%20Qingdao%20Sunsong%20-%2009.04.2024.pdf" }, { "id": "src-095", "title": "Media source · src-095", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-096", "title": "Media source · src-096", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-097", "title": "Court record source · src-097", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "government", "url": "" }, { "id": "src-098", "title": "Court record source · src-098", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "government", "url": "" }, { "id": "src-099", "title": "Court record source · src-099", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "government", "url": "" }, { "id": "src-100", "title": "Media source · src-100", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-101", "title": "Media source · src-101", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-102", "title": "Media source · src-102", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-103", "title": "Media source · src-103", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-104", "title": "Other source · src-104", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "other", "publisher_type": "corporate", "url": "" }, { "id": "src-105", "title": "Court record source · src-105", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "corporate", "url": "" }, { "id": "src-106", "title": "Media source · src-106", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-107", "title": "Media source · src-107", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-108", "title": "Other source · src-108", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "other", "publisher_type": "corporate", "url": "" }, { "id": "src-109", "title": "Court record source · src-109", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "corporate", "url": "" }, { "id": "src-110", "title": "Other source · src-110", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "other", "publisher_type": "corporate", "url": "" }, { "id": "src-111", "title": "Court record source · src-111", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "government", "url": "" }, { "id": "src-112", "title": "Court record source · src-112", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "corporate", "url": "" }, { "id": "src-113", "title": "Corporate registry source · src-113", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "corporate_registry", "publisher_type": "corporate", "url": "" }, { "id": "src-114", "title": "Corporate registry source · src-114", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "corporate_registry", "publisher_type": "corporate", "url": "" }, { "id": "src-115", "title": "Other source · src-115", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "other", "publisher_type": "corporate", "url": "" }, { "id": "src-116", "title": "Other source · src-116", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "other", "publisher_type": "corporate", "url": "" }, { "id": "src-117", "title": "Court record source · src-117", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "corporate", "url": "" }, { "id": "src-118", "title": "Court record source · src-118", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "corporate", "url": "" }, { "id": "src-119", "title": "Corporate registry source · src-119", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "corporate_registry", "publisher_type": "corporate", "url": "" }, { "id": "src-120", "title": "Officer appointments of David William Parker", "publisher": "Companies House", "date": "", "locator": "Officer appointments", "basis": "Retained copy of the document in the frozen case database, read in the passages cited by the claims.", "source_type": "corporate_registry", "publisher_type": "registry_operator", "url": "https://find-and-update.company-information.service.gov.uk/officers/0vFGnqE1Y5fU2meF4OMtVfTlG9k/appointments" }, { "id": "src-121", "title": "Media source · src-121", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "media", "publisher_type": "media", "url": "" }, { "id": "src-122", "title": "Court record source · src-122", "publisher": "", "date": "", "locator": "", "basis": "Source classification retained; identifying metadata omitted.", "source_type": "court_record", "publisher_type": "corporate", "url": "" } ], "atlas": { "version": "1.0", "reference": "dudil-report-assembler/2.19.0", "default_view": "target_overview", "hypotheses_default": true, "path_policy": "evidence_first", "context_entity_ids": [ "mayfair", "viceroy", "bph", "aztec", "fbgh", "fbgi", "fbg", "patrick-james", "pj-trust", "edward-james", "stephen-graham", "peter-brumbergs", "charles-moore", "horizon-global", "brake-parts-inc", "carnaby-holdings", "carnaby-iv", "carnaby-fa", "patterson", "broad-street", "onset", "evolution-fund", "aequum", "point-bonita", "jefferies-fg", "raistone", "katsumi", "bdo" ] }, "case_id": "first-brands-group", "version": "1.0", "as_of": "2026-10-15" }