Justin Sullivan
Trading in bankrupt Revlon (REV) stock has had a bumpy ride over the last few weeks and I expect that their entire Ch.11 bankruptcy process is going to have an extremely bumpy ride because of the complexities
Revlon: Fasten Your Seatbelts, It's Going To Be A Bumpy Bankruptcy
Summary
- A hearing is currently set for July 28 for the DIP financing motion, which could be a very heated hearing.
- Some shareholders have requested that the U.S. Trustee appoint an official equity committee.
- The Official Unsecured Creditor Committee is requesting the judge to approve an additional three months beyond November 30 to create a reorganization plan.
- Key employees are getting retention bonuses up to a total of $15.375 million.
I no longer write for Seeking Alpha. B.A. in Economics; M.S. in Finance. I usually wrote about distressed companies and companies in Ch.11 bankruptcy. I am now fully retired after spending decades in investments.
Analyst’s Disclosure:I/we have a beneficial long position in the shares of REV, UNSECURED NOTES either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
I am long Revlon unsecured notes and I do not own Revlon stock.
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