Thursday, January 29, 2026 at 8:40 PM
Patrick James, former CEO of First Brands Group, and his brother were indicted for defrauding lenders and investors, leading to the company's bankruptcy with over $9 billion in debt.
The bankrupt auto-parts supplier has been unable to shore up additional liquidity it needs before cash runs out in days.
After struggling to obtain new money from its top lenders, the bankrupt auto-parts supplier said it has secured prepayments from its largest customers.
In an interview, José Muñoz, the automaker’s first non-Korean leader, says he wants to build factories in the U.S. faster.
The billionaire Citadel founder hinted he could run for political office or work in government in the future.
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