When the auto parts supplier First Brands Group filed for bankruptcy on Sunday, one name popped up in the documents again and again: Raistone.
The little-known firm helps businesses secure short-term financing as they wait for customer payments to come through or seek to delay paying suppliers. Now, the deals it worked on for First Brands are under scrutiny as creditors try to figure out how the car parts company used opaque financial products to ramp up its borrowing beyond the $6 billion it had disclosed.
First Brands Collapse Renews Concerns Over Murky Trade Finance
