Trade Financer Raistone to Liquidate After First Brands Blowup

Raistone Capital, a trade finance firm that was done in by the collapse of auto parts supplier First Brands Group, filed for liquidation on Monday, weeks after winding down its operations.

The company and one of its affiliates filed for Chapter 7 bankruptcy in New York, listing $3.7 million in assets and $1.9 million in liabilities. The bankruptcy petitions are signed by Raistone Chief Executive Officer David Skirzenski, who said at an industry conference in December that the firm was still busy despite its exposure to First Brands.

Raistone legal representatives didn’t immediately reply to a request ...