First Brands’ $25 Million IP Sale Improper, Battery Maker Says

First Brands Group failed to adequately test the market before reaching a $25 million bankruptcy sale agreement for its recognizable auto parts intellectual property, including its Trico brand, auto electronics designer and producer NOCO Co. said.

The US Bankruptcy Court for the Southern District of Texas should reject First Brands’ proposed sale of 12 auto parts brands to PGI Northstar LLC and require the bankrupt brand owner to conduct additional marketing of its IP assets, NOCO said in an April 3 court filing.

“The resulting total headline value is only a fraction of what strategic buyers, like NOCO, were told ...