Making the Most of a Bad Situation: Announcing Fox Legal Training’s Newest Course, Inspired by the First Brands Collapse

November 2, 2025

When I first read about the First Brands situation, my first thought was: how we help FLT clients understand this?

Next thought – I wonder if Rob [Smith – who broke the story for the FT] would come onto the Knowledge Series to talk about it.

And he did – the replay is available here.

Our conversation inspired me to invite Rob to present our newest course: Following the Money: Lessons from an investigative journalist on First Brands, which will take place on November 19th at The Ned in London.

The truth is that effective credit analysis combines legals and financials, and a solid downside risk assessment must consider the four corners of the financial statements. Rob has been at the forefront of situations revealing the toxic nature of supply-chain finance and hidden leverage since his reporting on Abengoa.

Drawing on his extensive experience with uncovering corporate fraud, Rob will share his toolkit for identifying similar situations, using real case studies – including his work on First Brands.

At the same time, I will offer a primer on the legal and covenant implications of these situations, providing attendees with the full picture – both financial and legal.

FLT is in the process of discussing additional course offerings in the asset-backed lending space and will announce additional partnerships over the coming weeks and months.

In the meantime, we hope you can join us for the in-person filming of our newest course - register your interest in attending here. If you can’t make it, don’t fret – like all ofFLT’s events, this one will be recorded and made available for clients on our first-of-its-kind legal education platform.

 

 

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