Welcome to WSJ Pro Bankruptcy's Daily Briefing. It's Wednesday, December 17. In today's briefing, First Brands founder Patrick James is asking the court to dismiss a lawsuit brought by the bankrupt auto-parts supplier’s new management, arguing there is no evidence he caused the company’s collapse and instead blaming predatory off-balance-sheet lenders and tariffs.

First Brands founder Patrick James is seeking to dismiss the lawsuit filed against him by the bankrupt auto-parts supplier’s new management.

James said there isn’t enough evidence to blame him for the collapse of the company. Instead, James said the company’s off balance-sheet lenders engaged in “predatory” and “usurious” behavior that, combined with tariffs, caused the company to default.

The lawsuit, filed last month, alleged that James siphoned large sums of money from First Brands for his own use. James previously denied wrongdoing.

–Alicia McElhaney

Ample, an electric-vehicle battery-swapping startup, filed for chapter 11 bankruptcy protection Tuesday, seeking to pursue a sale or restructuring after a sharp pullback in clean energy investment and mounting operational challenges strained its liquidity.

Founded in 2014, Ample develops modular battery-swapping technology aimed at commercial fleet operators. An industrywide slowdown in renewable-energy funding, reduced government incentives, supply-chain disruptions and tariffs on imported components drove up costs and undermined efforts to scale its business, according to its filings with the Southern District of Texas. Regulatory and permitting delays in overseas pilot markets, including Spain and Japan, further hampered commercialization.

Ample entered bankruptcy with roughly $35.2 million in funded debt. The company, which raised more than $330 million in equity and debt since inception, said it was unable to secure additional financing outside of court.

Ample has lined up a $6 million debtor-in-possession loan from Twelve Bridge Capital, including up to $2.5 million available immediately, to fund operations during the bankruptcy. The financing will support a roughly 60-day marketing process to sell the business or its assets.

Ample is advised by Getzler Henrich as restructuring advisor and Pillsbury Winthrop Shaw Pittman as legal counsel.

British sports streaming giant DAZN is in advanced talks to acquire a majority stake in Main Street Sports Group, the big regional sports broadcaster in the U.S., according to people familiar with the matter.

A deal could be announced as soon as January, if the talks don’t hit any snags, the people said. DAZN is discussing making a sizable cash investment in Main Street Sports, with plans to integrate their two live-sports platforms, the people said. The exact terms of the deal couldn’t immediately be learned.

Main Street Sports was formerly known as Diamond Sports Group, which emerged from Chapter 11 bankruptcy in January. Diamond fell into bankruptcy as more consumers opted to cut the cord, leaving the business unable to service its debt and keep paying for the broadcast rights agreements it had with professional sports teams.

Despite a sharp rise in food prices, inflationary pressures in Canada appear contained, Bank of Canada Gov. Tiff Macklem said Tuesday, adding that policymakers remain focused on keeping inflation at or near 2% to preserve households’ purchasing power.

In a year-end speech in Montreal, Macklem said he expects the upheaval in global trade, fueled by President Trump’s tariffs, and the restructuring of Canada’s economy to dominate again in 2026. He reiterated that the central bank’s policy interest rate, at 2.25%, is “at about the right level” to support the economy through a period of modest growth while keeping inflation in check.

• Related: The U.S. unemployment rate rose to 4.6% in November, its highest in more than four years, fueling questions about the economy’s underlying strength.

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