Trading in FirstPlus Financial Group stock was halted for several hours Friday on news that a fund that invests in the company's stock and is partly owned by its chief executive had filed for bankruptcy.

The fund, Knox County Partnership, formerly known as Phillips Partners Ltd., filed for protection under Chapter 11 of the bankruptcy code Oct. 2, according to U.S. Bankruptcy Court in Dallas.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.