Revlon Gains $1.4Bn Financing From Subsidiaries, Appoints Interim CFO Amid Bankruptcy Fallout

Revlon approved for $1.4bn debtor-in-possession financing from BrandCo Lenders, a group of operating subsidiaries formed in capital structure changes which owns much of Revlon’s intellectual property. Firm appoints interim CFO to set course for debt restructuring.

• Source: Revlon

Beleaguered beauty firm Revlon Inc. gains $1.4bn in financing and changes financial leadership as it faces declining sales, operating losses and litigation with creditors and shareholders following its recent filing for bankruptcy protection.

The New York-based firm on 9 August announced chief financial officer Victoria Dolan will retire on 30 September after serving...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on HBW Insight for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Legal

‘Off-Label’ Beauty Hacks: Navigating the Risks of Consumer-Driven Innovation

 
• By 

Guest authors Rachel Raphael, partner at Morgan, Lewis & Bockius, LLP and associates at the firm, Elizabeth Bresnahan and Kathryn Ignash, advise beauty companies on how to navigate the legal risks associated with consumers ‘off-label’ beauty hacks.

Supreme Court 1935 Ruling Limiting Executive Authority On Appointments ‘Unravels’ Today – DoJ

 

In complaint and response to motion to dismiss, Rebecca Kelly Slaughter’s and Alvaro Bedoya’s attorneys elaborate on Supreme Court ‘s 1935 decision, Humphrey’s Executor v. US. Administration attorneys, though, contend the ruling isn’t relevant to the current FTC.

Estee Lauder Faces Securities Fraud Suit After District Court Denies Motion To Dismiss

 

A federal judge in the Southern District of New York denied Estee Lauder’s motion to dismiss a securities fraud lawsuit filed by shareholders who said the company concealed its reliance on a gray market retail revenue stream, which ultimately caused sales and the stock price to plunge.

Uncertainty Abounds With SEC Climate Reporting Rule Tied Up In Courts

 
• By 

Despite questions surrounding the SEC rule, including disputes being litigated in the US Eighth Circuit, companies must prepare to meet the new climate disclosure requirements in addition to related mandates in California and abroad. Experts emphasize opportunities beyond compliance.

More from Policy & Regulation

California Legislators Advance Bill To Ban Plastic Glitter, Abrasive Microbeads In Personal Care

 
• By 

Lawmakers in California heeded calls from industry to change proposed legislation to avoid a wider ban on microplastics in personal care products.

EPR Alert! Unregistered Producers In Colorado No Longer Permitted To Sell 1 July

 

Packaging producers subject to Colorado’s Extended Producer Responsibility program that have not registered with the organization running the program will no longer be able to sell in the state starting 1 July.

House Bill Aims to ‘Modernize’ US FDA’s Review Process For Sunscreens

 

Four co-chairs of the House of Representatives’ Skin Cancer Caucus have introduced the Safe Sunscreen Standards Act to direct FDA to establish clearer, ‘more flexible’ standards for evaluating sunscreen ingredients.