First Eagle’s Napier Park to Reclaim Goods Sold to First Brands

First Eagle’s alternative credit platform Napier Park Global Capital has filed a notice at court to reclaim goods sold to auto-parts supplier First Brands Group, as more stakeholders are weighing in on the complex bankruptcy.

Napier Park requests a “return of all goods” delivered to First Brands during the 45-day period prior to the bankruptcy filing, the Friday court document showed. First Brands was believed to be “insolvent when it received the reclaimed goods,” it added.

Trade creditors have the right to recover the goods they shipped in a bankruptcy if several conditions are met, including that the ...