First bankruptcy brands files that threaten billions of dollars

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First Brands Group has provided bankruptcy in one of the most amazing collapses in private debt markets in recent years.

Ohio’s auto parts company applied for the protection of Chapter 11 in the southern region of Texas late on Sunday, which led to the addition

The first brands are owned by the Malaysian businessman Patrick James and makes the Michelin windshield scanners in Europe and Carter fuel pumps in the United States.

The full details of her money may take some time to appear due to the chaotic nature of its bankruptcy, which was fueled by concerns about its use Funding a paper outside the balance.

The first brands of the lenders previously told that it had $ 5.9 billion of long -term debt in March, for nearly one billion dollars of cash, but many creditors now fear that there will be billions of dollars in unblined financing Bills And stock.

This is a developing story