First Brands financier Raistone prepares wind-down
Firm was heavily dependent on fees earned from deals for bankrupt auto-parts supplier
Firm was heavily dependent on fees earned from deals for bankrupt auto-parts supplier

One of the largest middlemen in car parts group’s debt raisings close to a deal with Marblegate Asset Management

The company is relying on a $48mn infusion from automakers to continue operating

Debt intended to stabilise the auto parts maker has fallen sharply to trade at about 70 cents on the dollar

Company considers bankruptcy as its finances worsen

Car parts maker’s rapid downfall has raised concerns of widespread losses on Wall Street

Bankrupt car parts maker only has enough money to operate through end of January as advisers race to raise capital