{"id":6178,"date":"2026-05-03T03:18:15","date_gmt":"2026-05-03T03:18:15","guid":{"rendered":"https:\/\/www.europesays.com\/lu\/6178\/"},"modified":"2026-05-03T03:18:15","modified_gmt":"2026-05-03T03:18:15","slug":"first-brands-examiner-finds-two-sets-of-books-and-plot-to-divert-assets-to-luxembourg","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/lu\/6178\/","title":{"rendered":"First Brands Examiner Finds Two Sets of Books and Plot to Divert Assets to Luxembourg"},"content":{"rendered":"<p data-type=\"paragraph\" data=\"[object Object]\" class=\"css-i0p3hh e1moe68o2\">A new investigation by an examiner<a data-type=\"link\" href=\"https:\/\/www.wsj.com\/articles\/first-brands-to-tap-examiner-to-probe-financial-irregularities-151483df?mod=article_inline\" target=\"_blank\" rel=\"noreferrer nofollow noopener\" class=\"ekxajjj0 css-i0lbhy-OverridedLink\"> hired to unravel<\/a> what led to First Brands\u2019 collapse shows that the scope of its alleged accounting fraud doesn\u2019t just include double-pledged receivables and invented collateral.\u00a0<\/p>\n<p data-type=\"paragraph\" data=\"[object Object]\" class=\"css-i0p3hh e1moe68o2\">The examiner\u2019s preliminary report alleges that First Brands kept two sets of books to track its accounting and that its founder, Patrick James, used overvalued acquisitions to divert company value to himself. First Brands executives also planned to move certain value from the company to a \u201cclean\u201d European company after the company filed for chapter 11, according to the examiner\u2019s report.<\/p>\n<p class=\"css-16aepit e1jdulti0\">Copyright \u00a92026 Dow Jones &amp; Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8<\/p>\n","protected":false},"excerpt":{"rendered":"A new investigation by an examiner hired to unravel what led to First Brands\u2019 collapse shows that the&hellip;\n","protected":false},"author":2,"featured_media":6179,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1658,1638,1637,1631,1646,1647,1644,1661,1639,1656,1635,1641,1640,1664,1643,25,1633,1645,1652,351,1662,1657,1654,1655,5,1632,1659,1630,1636,1663,1642,1650,1648,1649,1660,1653,1634,1651],"class_list":{"0":"post-6178","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-luxembourg","8":"tag-acquisitions","9":"tag-acquisitions-mergers","10":"tag-acquisitions-mergers-shareholdings","11":"tag-automotive","12":"tag-ce-executive-news-filter","13":"tag-ce-industry-news-filter","14":"tag-content-types","15":"tag-corporate","16":"tag-corporate-actions","17":"tag-corporate-crime","18":"tag-corporate-crime-legal-action","19":"tag-corporate-financial-difficulty","20":"tag-corporate-industrial-news","21":"tag-crime","22":"tag-crime-legal-action","23":"tag-europe","24":"tag-european-union-countries","25":"tag-factiva-filters","26":"tag-gcapi","27":"tag-general-news","28":"tag-industrial-news","29":"tag-legal-action","30":"tag-linki1-wp-wsj-0003534833","31":"tag-linki2-wp-wsj-0003534833","32":"tag-luxembourg","33":"tag-manufacturing","34":"tag-mergers","35":"tag-motor-vehicle-parts","36":"tag-ownership-changes","37":"tag-political","38":"tag-political-general-news","39":"tag-pro","40":"tag-risk-topics-anti-corruption-bribery","41":"tag-risk-topics-regulations-regulators","42":"tag-shareholdings","43":"tag-synd","44":"tag-western-europe","45":"tag-wsj-pro-debt"},"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/lu\/wp-json\/wp\/v2\/posts\/6178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/lu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/lu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/lu\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/lu\/wp-json\/wp\/v2\/comments?post=6178"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/lu\/wp-json\/wp\/v2\/posts\/6178\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/lu\/wp-json\/wp\/v2\/media\/6179"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/lu\/wp-json\/wp\/v2\/media?parent=6178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/lu\/wp-json\/wp\/v2\/categories?post=6178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/lu\/wp-json\/wp\/v2\/tags?post=6178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}