Funds including Sona Asset Management, Apollo Global Management and Axebrook Capital are shorting the debt of Adler Pelzer Holding GmbH on a bet that the auto-parts manufacturer will struggle to refinance its debt, sources say https://t.co/I68R6Lgr0h ...

Group 1 - Jefferies Financial Group (NYSE:JEF) was upgraded to Outperform at Oppenheimer, with a price target set at $81.00 [2] - Shares of Jefferies Financial Group increased by 5.51% in pre-market trading to $51.49 [2] - The stock has been declining since the company disclosed its exposure to bankrupt auto-parts maker First Brands [2]

The federal watchdog for corporate bankruptcies joined a creditor’s demand for an independent investigation of the troubled auto-parts supplier First Brands Group, which has admitted it can’t find $2.3 billion related to off-balance sheet financing deals https://t.co/oGMmTMzFs2 ...

A worker disassembles a car at an auto shop in Wareham, Massachusetts. The federal watchdog for corporate bankruptcies joined a creditor’s demand for an independent investigation of the troubled auto-parts supplier First Brands Group, which has admitted it can’t find $2.3 billion related to off-balance sheet financing deals. Most Read from Bloomberg The US Trustee argued in court filings that “serious allegations of fraud, dishonesty, incompetence, misconduct, or mismanagement,” justifies a quicker-than- ...

Jefferies Financial said its own exposure to First Brands is limited to roughly $45 million. - Jeenah Moon/Bloomberg News Patrick James, the chief executive of bankrupt auto-parts supplier First Brands, has resigned his position after accounting irregularities came to light. James led the company through a rapid expansion in recent years and used debt to accumulate 25 automotive-parts suppliers. First Brands collapsed into bankruptcy in late September with $10 billion in debt. New directors have said the ...

A joint venture between Norinchukin Bank and Japanese trading house Mitsui faces $1.75 billion of exposure to bankrupt auto-parts supplier First Brands, court documents show https://t.co/zpEHfEU069 ...

US regional lender Western Alliance faces exposure to the collapse of auto-parts supplier First Brands through a leveraged facility with a fund linked to Jefferies https://t.co/ms7DdB611J ...

Funds under the UBS umbrella face more than half a billion dollars of exposure to bankrupt auto-parts supplier First Brands through various investment strategies https://t.co/mTmccfZyXa ...

Auto-parts supplier First Brands Group filed for bankruptcy in Texas, listing liabilities of between $10 billion to $50 billion https://t.co/sxJX339cKu ...

Auto-parts maker First Brands Groupand some of its largest creditors are working with advisers as the company assesses options for its $6 billion debt pile after pausing a refinancing attempt over a month ago https://t.co/Y6EEXZfbZC ...