A bankruptcy judge declined a request by Revlon Inc. minority shareholders to form an official committee to represent equity holders’ interests in the cosmetics company, which has rallied in the stock market despite its chapter 11 filing.
Judge David Jones of the U.S. Bankruptcy Court in New York ruled that minority shareholders’ interests are adequately represented in the chapter 11 case, filed in June. The shareholders’ interests align with those of unsecured creditors, who are already represented by an official committee in the bankruptcy case, the judge said.
