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Ritabert

(1,708 posts)

3. Here's the problem..

Reply to Omaha Steve (Original post)

Sat Oct 11, 2025, 09:16 AM

Saturday

The problem was that First Brands had pledged money from the same invoices to multiple lenders, essentially double or triple counting what it expected its customers to be paying, according to the bankruptcy filings.
....
Because these arrangements were held off the company’s balance sheet, creditors say they were not aware that the same invoices were pledged more than once.

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