Oct 10 (Reuters) - First Brands Chief Executive Patrick

James is considering leaving his position at the bankrupt auto

parts supplier, a spokesperson for James said on Friday.

"Patrick James has always put the interests of First Brands

Group ahead of his own and is evaluating his best path forward

to help maximize value for its customers, suppliers, employees

and lenders, including potentially relinquishing his role as

CEO," the spokesperson said in an emailed statement.

James' brother, Edward, has stepped down from his senior

position in the company, said the Financial Times, which first

reported the CEO was considering resigning.

First Brands, which makes filters, brakes and lighting

systems for the automotive industry, filed for bankruptcy

protection last month after its lenders began investigating

irregularities in the company's financial reporting.

The company has $11.6 billion in total liabilities,

according to court documents.

The U.S. Justice Department has launched a probe into First

Brands' dealings with creditors and sent an inquiry to the

company, Reuters reported on Thursday.

The probe is at an early stage, a person familiar with the

matter said, adding that it is common for U.S. prosecutors to

look into companies that publicly disclose losses affecting a

large group of investors.

Financial firms exposed to First Brands include Jefferies

, which disclosed $715 million in exposure through

Leucadia Asset Management, and UBS , which is assessing

exposure on more than $500 million tied to the company.

First Brands, owned by founder Patrick James, racked up most

of its long-term debt by acquiring other parts suppliers and

auto repair services over the past 15 years.

The auto parts maker has appointed a special committee of

independent board directors to investigate its off-balance-sheet

financing arrangements and whether its invoices were factored in

multiple times.