Revlon shareholders appeal to bankruptcy judge for representation

Revlon shareholders appeal to bankruptcy judge for representation

THE WHAT? A group of minority shareholders in Revlon has petitioned the US cosmetics firm’s bankruptcy judge seeking representation in the Chapter 11 proceedings, according to a report published by Reuters.

THE DETAILS Led by the Mittleman Brothers, the group contends that Revlon’s increasing share price proves that its business is viable and therefore shareholders’ interests should be protected. The court has been asked to rule on the request in a hearing due to take place on August 24.

THE WHY? Revlon did not respond to a request for comment when contacted by Reuters. Without a say in the bankruptcy proceedings, shareholders’ interests may be overlooked in favor of other creditors.

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