> The UMB Complaint was the culmination of a bitter dispute between Revlon and Citibank, on the one hand, and a group of Lenders holding a large interest in the 2016 Term Loan, led by or including most Defendants here, on the other. The group of Lenders alleged that, in the May 2020 Transaction, Citibank and Revlon had improperly manipulated the voting provisions of the 2016 Loan Agreement to gain approval of an amendment that permitted Revlon to strip collateral backing the loans.
> ...
> In that heated context, it was reasonable for the Lenders to believe — and several did believe — that Revlon and Citibank, perhaps with the help of Perelman and MacAndrews & Forbes, had figured out a creative way to pay down either enough of the Lenders to prevent them from filing the UMB Bank lawsuit or the 2016 Term Loan altogether.