First Brands Says It Needs $600 Million or ‘It’s Game Over’ (3)

First Brands Group lawyers said the auto-parts company needs access to its roughly $600 million of remaining bankruptcy financing or it will have to shut down immediately.

That request, made during a Thursday court hearing in Houston, represents the rest of the $1.1 billion financing being offered by a group of First Brands lenders. US Bankruptcy Judge Christopher Lopez last month authorized the company to make an initial $500 million draw on the loan, and a hearing to consider the current request will continue Friday.

“We are talking high stakes, as high as they get,” company attorney Sunny Singh said ...