Revlon Creditors Can’t Sue Cosmetics Maker Over Collateral Moves

Revlon Inc. does not have to face a lawsuit accusing it of stripping creditors of valuable collateral backing their debt, a judge ruled.

• US Bankruptcy Judge David Jones found that the creditors do not have the right to bring the lawsuit, because in bankruptcy, those claims are considered assets of the company
• The creditors claim that transactions in 2019 and 2020 wrongly gave collateral to other lenders that should have been used to help pay their debt
• The creditors may still have the right to pursue claims against the lenders who got the collateral and Jefferies LLC, an adviser on ...