Bankrupt Revlon faces call from some of cosmetic giant's creditors
Some of Revlon's creditors have asked a US bankruptcy judge to unwind the bankrupt cosmetic giant's 2020 loan restructuring, saying that a group of senior lenders fleeced other creditors by improperly laying claim to the company's valuable intellectual property assets.
The creditors, including Brigade Capital and Nuveen Asset Management, in a court filing have accused a separate faction of lenders, known as the Brandco lenders, of exerting enormous leverage over Revlon's bankruptcy proceedings based on "sham" loan transactions made in 2019 and 2020.
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