By Saeed Azhar, Anirban Sen, Mike Spector and Shivansh Tiwary
Summary: First Brands, a U.S. auto-parts maker, filed for Chapter 11 bankruptcy with at least $10 billion in liabilities and up to $10 billion in assets. The company secured $1.1 billion in financing to keep operating while restructuring. A $2 billion revenue-linked factoring deal is under scrutiny for contributing to its financial troubles, though the reorganization is not expected to disrupt global operations or supply chains.
Read more about this article here!