First Brands Founder Blames ‘Predatory’ Lenders for Bankruptcy

First Brands founder Patrick James asked a judge to dismiss a lawsuit accusing him of misappropriating hundreds of millions of dollars, contending firms that provided his company with off balance-sheet financing engaged in “predatory” practices that helped tip the auto-parts supplier into bankruptcy.

The claim by James, who has denied wrongdoing, is part of a broader defense made in a Monday court filing by his lawyers, who argue there’s not enough evidence to justify holding him solely responsible for the collapse of the company. First Brands was unable to withstand both a series of external factors including rising interest rates ...