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“#Citigroup urges longer freeze over botched Revlon payment” Citigroup on Friday urged a federal judge to extend a freeze on $504 million of its own money that it mistakenly sent a group of Revlon lenders. The bank requested an injunction from Manhattan Federal Judge Jesse Furman, who on Feb. 16 said 10 asset managers could…
“#Citigroup can’t recoup $500M paid to Revlon lenders: judge” Oops! Can we get that $900 million back? A federal judge on Tuesday refused to let Citigroup claw back the millions it says it accidentally paid lenders of cosmetic seller Revlon last August tied to a loan due in 2023. Despite calling the nearly $1 billion gaffe…
“#Citigroup urges return of mistaken Revlon payment as trial ends” Citigroup Inc made a final push on Wednesday to persuade a federal judge to force lenders of Revlon Inc to return half a billion dollars of its own money that it mistakenly sent them. At the conclusion of a six-day non-jury trial, US District Judge…
“#Citigroup defends actions at trial over $900M Revlon blunder” Citigroup went to trial Wednesday to try to recoup a half-billion dollars it claims is still due after it accidentally used nearly $900 million of its own money to repay lenders of Revlon, the struggling cosmetics company. The unusual case in Manhattan federal court could provide…
“#Ron Perelman’s Revlon plagued by $90M in mystery bondholders” Revlon is supposed to be known for its vanishing creams, not its disappearing bondholders. Ron Perelman’s Revlon is in a major tussle with lenders over some $90 million in bonds with mystery owners whose bizarre vanishing act could push the company into bankruptcy, The Post has…