Judge Delays First Brands' $12 Billion Asset Sale to Accommodate Late Bidder NOCO

In a significant turn for one of the auto-parts industry's biggest bankruptcies, a federal judge has pumped the brakes on First Brands Group's fire-sale auction of 12 major brands, ruling that competitor NOCO Co. deserves a last-minute shot at making an offer. Judge Christopher Lopez handed down the decision Tuesday, giving NOCO until Friday to submit a bid for at least one of the brands being auctioned off as part of First Brands' multi-billion dollar bankruptcy restructuring.

The ruling represents a potential wrinkle in what appeared to be a done deal. NOCO had complained it was unfairly shut out of the bidding process for one of the brands, and the judge agreed the company warranted another chance. This delay, while brief, could meaningfully alter the auction's outcome and the proceeds First Brands recovers for creditors. The 12 brands under auction include well-known names in automotive maintenance and accessories—including Trico wiper blades, visible in the Bloomberg photo from a Utah auto parts store—that represent some of First Brands' most valuable assets.

The decision underscores how even late-stage bankruptcy auctions can be reopened when procedural fairness is questioned. Judge Lopez's intervention suggests the court is taking seriously NOCO's claims of being wrongly excluded, even as the bankruptcy process barrels forward. For First Brands' creditors, the outcome hinges on whether NOCO's entry into the bidding will drive up prices or simply complicate an already complex multi-billion dollar restructuring.