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Judge approves plan to end cosmetics group’s three-year fight with creditors over errant $900mn payment by Citigroup
Angelo Gordon’s positions differ in contested Revlon and Serta Simmons bankruptcies
Disputes between lender groups about priority and collateral claims are best resolved via bankruptcy proceedings
Senior creditors to take ownership of tycoon’s indebted cosmetics company under restructuring plan
Wall Street bank challenged hedge funds that received repayment from Revlon loan in 2020
Plus, Revlon shareholders prepare for a fight and a court battle exposes tensions in the distressed debt sector
Minority shareholders push for seat at courthouse table, insisting furious rally is sign of group’s true value
Retail traders hoping to have snagged the next Hertz risk being disappointed
Well-known mass-market brands are no longer enough in an industry shaped by independents and influencers
Redditors meet the Absolute Priority Rule.
Plus, Citi’s loan fiasco complicates Revlon’s bankruptcy proceedings and the bipartisan ire mounting on Disney
Data entry mistake in 2020 leads to infighting among creditors of indebted US cosmetics group
Cosmetics group can no longer put a brave face on liquidity and leverage problems
US cosmetics group majority owned by billionaire Ron Perelman vows to ‘unlock full potential’ of its brands
Bank restates fourth-quarter earnings after losing bid to recover funds sent out by mistake
Unpacking the surprising court victory in the battle for the bank’s accidentally wired $900m
Billionaires Ron Perelman and Carl Icahn end duel over bond exchange
Hedge funds were furious over a financing deal for Revlon but then the bank accidentally wired them millions
Brigade Capital accused of keeping money sent in error and threatening ‘trust in the banking system’
Chief operating officer Debra Perelman promoted to top job
Cosmetics company’s shares have dropped more than 80% since 2012
Technology and healthcare sectors decline while energy stocks gain on higher oil price
Specialist chains and online groups gain ground on traditional retailers
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