Citigroup Creditors Seek to End Freeze on Mistaken Transfers
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A group of asset managers for Revlon Inc. lenders urged a judge not to extend a freeze on more than $500 million that they accidentally received from Citigroup Inc. while the bank appeals a ruling that they don’t have to return it.
Citibank sought the freeze because it’s upset that the lenders received a “lottery-like windfall,” the group said in a court filing in Manhattan Friday.