Invesco says Robertshaw DIP proposal attempts to ‘weaponize’ bankruptcy


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Invesco says Robertshaw DIP proposal attempts to ‘weaponize’ bankruptcy

Max Reyes's avatar
Kartikeya Dar's avatar
  1. Max Reyes
  2. +Kartikeya Dar
12 min read

Invesco has accused Robertshaw’s lenders and its financial sponsor of attempting to “weaponize the bankruptcy process” by using a DIP financing proposal to legitimize a disputed pre-petition transaction.

As an alternative, Invesco is requesting that the court back its own DIP financing proposal, instead of the competing proposal from an ad hoc group of lenders including Bain Capital, Canyon Partners and Eaton Vance.

Invesco’s accusation, and its request that the court approve its own DIP proposal, were part of an objection that lawyers from Glenn Agre filed on behalf of the investment firm in the US Bankruptcy Court for the Southern District of Texas on Monday.

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