Source: Seattle Times
“The founder and CEO of First Brands resigned Monday, weeks after the auto parts supplier filed for bankruptcy protection amid an accounting scandal that has left lenders scrambling for more than $2 billion in missing funds. Patrick James, who founded the company in 2013, will be replaced on an interim basis by Charles Moore, who was appointed as chief restructuring officer last month to sort out the company’s financial and potential legal troubles and prepare it for a possible sale. … Raistone Capital filed an emergency motion last week requesting the appointment of an independent examiner, saying that First Brands-appointed ‘independent’ directors were insufficient considering the amount of money — as much as $2.3 billion — that had ‘simply vanished.’” (10/13/25)