Chancery Denies Tilton Secrecy Bid In Cosmetics Co. Dispute
Law360 (May 7, 2021, 7:13 PM EDT) -- Distressed company turnaround mogul Lynn Tilton lost a bid Friday for a temporary seal on a Chancery Court complaint challenging control of one of her "Patriarch Partners" companies just ahead of a bankruptcy court's supervised sale effort.
Vice Chancellor Morgan T. Zurn rejected a motion for the temporary confidentiality order after hearing arguments from Tilton's attorneys that secrecy for the dispute was needed to avoid spooking potential strategic bidders for Stila Styles LLC, which controls California-based Stila Cosmetics.
Tilton has managed Stila Styles since 2009, but it's next in line for a U.S. Bankruptcy Court-supervised sale of her portfolio of Patriarch...
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