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First Brands lenders tap Evercore as capital structure collapses

An ad hoc group of lenders to troubled auto parts group First Brands has tapped Evercore as financial advisor alongside legal counsel at Gibson Dunn, said four sources familiar with the matter.

First Brand’s advisors, Lazard and Weil, along with the lenders’ advisors have gone restricted amid an ongoing accounting review tied to its factoring programs, three of the sources said. The Evercore and Gibson group is open to all lenders, added the first source.

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