This episode of the Debtwired podcast explores the swift collapse of auto parts company First Brands Group into Chapter 11, the overlooked warning signs on Wall Street, and the high-stakes legal and financial battles now unfolding.

Featuring insights from Debtwire’s head of research Tim Hynes, reporter Kunyi Yang, global head of legal analysis, Sara Tapinikes, and court team editor Taylor Harrison, the discussion breaks down what’s at stake for secured lenders, unsecured creditors, and trade claim holders as the case navigates a protracted and fiercely contested restructuring.

The episode also delves into the potential for substantive consolidation—a move that could significantly reshape recoveries across creditor classes.