The law offices of Gana Weinstein LLP are currently investigating claims related to investor losses surrounding the First Brands Group bankruptcy. First Brands is an automotive-parts conglomerate behind brands like Raybestos, Trico, and Champion filters that filed for Chapter 11 in September 2025. The resulting losses have rippled through Wall Street’s private-credit ecosystem with the fallout has reaching investors including participants in Jefferies Financial Group’s Point Bonita Capital Fund, a fund marketed as a low-volatility trade-finance vehicle. For affected investors, this is more than a disappointing performance report. It raises urgent questions about how Jefferies managed risk, disclosed conflicts, and monitored the integrity of the assets it financed. Our firm is actively investigating these issues and evaluating potential claims.
Among the largest creditors is Point Bonita Capital, managed by Leucadia Asset Management, the alternative-asset division of Jefferies Financial Group Inc. In public disclosures, Jefferies confirmed that Point Bonita held about $715 million in First Brands receivables — receivables that may now be severely impaired. Jefferies also acknowledged that several of its affiliated funds — including Apex Credit Partners CLOs — hold smaller amounts (around $48 million) of First Brands term loans. Although Jefferies emphasizes that its own balance-sheet stake in those receivables is roughly $43 million, the majority of the losses will fall on outside limited partners.
The bankruptcy court will eventually determine the validity and ranking of each receivables claim. Recovery prospects depend on whether invoices can be authenticated and how much value can be realized from First Brands’ remaining assets. But investors do not have to wait passively. If you invested in Point Bonita Capital Fund and have suffered losses linked to the First Brands bankruptcy, we encourage you to contact our firm. We are reviewing potential claims for violations of federal securities laws, common-law fraud, and breach of fiduciary duty.
Brokers are required to adhere to the SEC’s Regulation Best Interest (Reg BI) standard of care under the Securities Exchange Act of 1934 which establishes a “best interest” standard for broker-dealers and associated persons. This standard applies when brokers make recommendations to retail customer for any securities transaction or investment strategy involving securities, including recommendations of types of accounts. Reg BI is drawn from fiduciary principles that include an obligation to act in the retail investor’s best interest and the broker is prohibited from placing their own interests ahead of the investor’s interest.
Brokers have a responsibility treat investors fairly which includes obligations such as making only suitable investments for the client after conducting due diligence. Due diligence includes an investigation into the investment’s properties including its benefits, risks, tax consequences, issuer, history, and other relevant factors. Appropriate due diligence would identify that an alternative investment’s high costs, illiquidity, and conflicts of interests that would make the investment not suitable for investors.
Investors who have suffered losses are encouraged to contact us at (800) 810-4262 for consultation. At Gana Weinstein LLP, our attorneys are experienced representing investors who have suffered securities losses due to the mishandling of their accounts. Claims may be brought in securities arbitration before FINRA. Our consultations are free of charge and the firm is only compensated if you recover.