BlackRock and UBS Expose Major Risks in First Brands Bankruptcy
TL;DR Summary
BlackRock is seeking to withdraw some investments from a Jefferies fund that holds significant trade debt exposure to bankrupt auto-parts supplier First Brands, amid concerns over the company's financial decline and halted payments prior to its bankruptcy filing.
- BlackRock Seeks Cash From Jefferies Fund Exposed to First Brands Bloomberg.com
- Auto Supplier First Brands Files for Bankruptcy Amid Accounting Questions The Wall Street Journal
- UBS fund holds 30% exposure linked to First Brands Financial Times
- Jefferies Fund Has $715 Million in First Brands’ Trade Debt Yahoo Finance
- Jefferies discloses fund exposure to bankrupt First Brands, shares fall Reuters
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