First Brands: one of 2025's most complex restructuring cases. This webinar cuts through the noise to examine the key players, controversial financing structures, and critical legal questions shaping the First Brands Group bankruptcy.

What's covered:

• The stakeholder landscape: From the 81-fund term loan ad hoc group to the factoring parties—who's at the table and what do they want?
• The non pro rata DIP debate: Does legal precedent from ConvergeOne and ATD matter here, or are we in uncharted territory?
• Off-balance sheet financing fallout: How hidden liabilities are reshaping recovery expectations across the capital structure
• The Apollo short strategy: What it was, how it worked, and whether it signals a new playbook for distressed investors
• The Debevoise factor: Can high-powered legal counsel engineer another Greensill-style outcome for Patrick James?

Whether you're a creditor, investor, or advisor navigating this case, this session will arm you with the intelligence and context you need to make informed decisions.

Speakers:

• Max Frumes, global head of distressed and restructuring, 9fin
• Cat Corey, distressed legal analyst, 9fin
• Dimitar Voukadinov, senior distressed credit analyst, 9fin
• Robert Smith, corporate finance editor, Financial Times
• And more

For a summary of 9fin’s market-leading coverage on First Brands, click here.

Watch the full session on demand below.