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Relativity Wins Approval Of Creditor Settlement, Final DIP

Law360, New York (August 9, 2018, 8:26 PM EDT) -- Relativity Media LLC defeated a U.S. Trustee objection Thursday to secure bankruptcy court approval of a settlement with its creditor groups that paves the way for a sale of the company to its senior lenders, and was authorized to tap the remainder of a $4 million debtor-in-possession loan.

Relativity Chief Restructuring Officer Colin Adams was forced to take the stand Thursday in New York bankruptcy court to defend the work and amount of compensation paid to the company’s recently-resigned general counsel, who received a $125,000 bonus to stay in her role just before the troubled film studio filed for Chapter 11...

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