Billions “vanish” in First Brands bankruptcy as creditors demand independent probe The sudden implosion of First Brands Group, an Ohio-based auto parts supplier, has sent shockwaves through Wall Street, exposing what creditors allege is one of the most chaotic corporate bankruptcies in recent memory. With liabilities estimated between 10?50 billion, the company’s collapse has left financiers scrambling to locate billions in missing funds—raising urgent questions about fraud, regulatory oversight and the hidden risks lurking in private credit markets. First Brands filed for Chapter 11 protection in late September in Texas, but the real story lies in the tangled web of off-balance-sheet…
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