First Brands Wins Access to $60 Million Trapped by Creditor Spat

First Brands Group won court approval to use as much as $60 million in cash that has been trapped in an escrow account because of a dispute over so-called factoring deals.

• US Bankruptcy Judge Christopher Lopez said he would let the company use the money, but could not yet decide which creditors have first claim on a related pile of cash and future payments made to the company by its customers
• About $56 million will remain in escrow while the company and creditors argue about how to decide whether that cash is actually owned by certain creditors or, if ...