Invesco Loses Bid to Seize Control of Bain-Backed Restructuring

Invesco lost a bid to regain control of Robertshaw after the firm was stripped of its power to steer the restructuring of the troubled appliance parts maker by rivals Bain Capital, Eaton Vance Management and Canyon Capital Advisors.

Judge Christopher Lopez ruled Thursday that Bain, Eaton Vance, Canyon and Robertshaw’s private equity owner One Rock Capital Partners can continue steering the company’s Chapter 11 restructuring. The ruling is a setback to Invesco, which sued to block a December debt deal — devised by the rival lenders — that effectively pushed Invesco out of the restructuring.

Lopez ruled that ...