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The US Department of Justice (DoJ) has initiated an investigation into the collapse of bankrupt auto supplier First Brands Group, following potential losses amounting to billions of dollars for investors and creditors. The probe, led by the Southern District of New York, is in its early stages. One of the largest creditors alleged $2.3bn had vanished during the company's abrupt failure. First Brands, which makes car parts, has appointed two independent directors to investigate its financing methods.

Prepared by Emily Rhodes and reviewed by editorial team.