Revlon
In 2020 moved valuable IP to an unrestricted subsidiary that borrowed against it. When a lender cooperation agreement blocked the amendment, Revlon issued new revolving loans to supportive lenders to swing the vote. Non-participating lenders later recovered 17–23%.
Discussed in Liability Management Exercises: Law and Practice at ¶¶ 2.91, 23.32–23.34, 23.36, 23.38, 23.57–23.58.