First Brands gains court approval to access $1.1 billion financing

Following its voluntary Chapter 11 filing on Sept. 28, First Brands said it has progressed in enhancing business performance and regaining its reputation

First Brands Group, a global automotive parts manufacturer for the automotive aftermarket, which filed for bankruptcy protection in September, has announced that the US Bankruptcy Court for the Southern District of Texas has granted the company the ability to immediately access the entire $1.1 billion in debtor-in-possession financing.