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Relativity, Creditors Reach Deal To Advance Ch. 11 Case

Law360 (June 29, 2018, 8:51 PM EDT) -- Relativity Media LLC has smoothed out a path to advance a sale of the troubled business in Chapter 11 proceedings to a consortium of secured lenders, announcing a settlement that enables a group of cautious unsecured creditors to recover in the film studio's bankruptcy case.

The settlement — essentially a three-way deal between Relativity, investor consortium UltraV Holdings LLC and a committee of unsecured Relativity creditors — grants the creditors rights to litigate certain claims, including those against the company’s officers and directors, and an initial cash...
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