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Revlon Judge Leans Toward Approval of Contested Bankruptcy Loan

July 29, 2022, 9:08 PM

Revlon Inc.’s bankruptcy judge will probably allow the cosmetics giant to draw on a further $200 million of debtor-in-possession financing despite the protestations of low-ranking creditors.

  • US Bankruptcy Judge David S Jones will likely approve the bankruptcy financing “in some form,” though he may not make a final decision until Monday, he said at the conclusion of a two-day trial over the deal on Friday
    • Jones already allowed Revlon to borrow $375 million of the cash on an interim basis shortly after the bankruptcy began
  • The company’s official committee of low-ranking creditors objected to various aspects of the financing, ...