First Brands Hires Nardello to Investigate Off-the-Books Financing Before Bankruptcy
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Bankruptcy Investigation Launched: The creditors' committee of First Brands officially hired Nardello & Co. on December 1 to investigate the company's off-the-books financing arrangements prior to its bankruptcy, aiming to uncover potential financial misconduct.
- Urgent Timeline: The creditors' committee requested the judge to allow Nardello to start work immediately, emphasizing the existence of 'time-sensitive matters' that require urgent attention, indicating the complexity and urgency of the bankruptcy proceedings.
- Historical Context: Nardello has extensive experience in handling high-profile bankruptcy cases, having previously assisted creditors in the FTX case to recover billions in assets, showcasing its capability in complex financial investigations.
- Escalating Legal Risks: The former finance director of First Brands plans to invoke the Fifth Amendment during his deposition, indicating that the ongoing federal criminal probe into the company may further escalate legal risks and impact the progress of the bankruptcy process.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
