First Brands Bankruptcy: Lawsuits Around Alleged Fraud Seek to Recoup Billions

The pitch to creditors of bankrupt First Brands goes like this: Stick with us just a while longer, and you’ll get a full recovery as we claw back $2 billion...

By Reshmi Basu and Steven Church · Bloomberg Markets

The pitch to creditors of bankrupt First Brands goes like this: Stick with us just a while longer, and you’ll get a full recovery as we claw back $2 billion from suing a long list of insiders and business partners who allegedly perpetrated a widespread fraud.