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Lese-Ansicht

Spirit Airlines Seeks to Start Orderly Wind-Down to Sell Assets

Spirit Aviation Holdings Inc. is set to start an orderly wind-down process to sell its assets, capping the downfall of the low-cost carrier that has filed for bankruptcy twice in recent years and failed to clinch a last-minute US government rescue.

Spirit Airlines signage at the check-in counter at Baltimore Washington International Thurgood Marshall Airport.
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First Brands Creditor Sues Auditor BDO Over Missed Red Flags

A lender that owns First Brands Corp. debt sued auditor BDO USA P.C., alleging it failed to detect problems at the auto parts supplier before it collapsed into bankruptcy and federal prosecutors accused founder Patrick James of fraud.

Patrick James, founder and former chief executive officer of First Brands, right, arrives at federal court in New York, US, on Wednesday, Feb. 4, 2026. First Brands founder Patrick James and his brother Edward, a former executive at the company, were indicted in New York following the collapse of the bankrupt auto-parts maker last year.
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Citadel’s Yearslong Spirit Bet Faces New Risk on US Rescue Plan

Ken Griffin’s Citadel has been intertwined in Spirit Aviation Holdings Inc.’s bankruptcies over the past two years. It even parted ways earlier this year with a portfolio manager after a series of losses that included a soured bet on the distressed budget carrier.

Spirit Airlines signage at LaGuardia Airport
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Ex-First Brands Officer Says He Was Kept in the Dark About Fraud

First Brands Group’s former chief strategy officer asked a judge to dismiss a civil lawsuit that blames him in part for the auto-parts supplier’s collapse, arguing that founder Patrick James and his brother, Edward, concealed the alleged fraud that brought down the company.

Patrick James, founder and former chief executive officer of First Brands, arrives at federal court in New York, US, on Wednesday, Feb. 4, 2026. First Brands founder Patrick James and his brother Edward, a former executive at the company, were indicted in New York following the collapse of the bankrupt auto-parts maker last year.
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