Citi’s $500 Million Win Holds, With Revlon Lenders Denied Review
- Appeals panel had ruled lenders had to give back errant funds
- Creditors then asked court for a wider review of that decision
The Revlon Inc. logo is seen on the end of a pair of nail clippers.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Some of the Revlon Inc. creditors who were accidentally sent more than $900 million by Citigroup Inc. were denied a bid for a wider review of an appeals court ruling that they had to give the money back.
The lenders -- which include Brigade Capital Management LP, HPS Investment Partners LLC and Symphony Asset Management -- asked the 2nd US Circuit Court of Appeals last month to have a larger group of judges review the decision by a three-judge panel. The panel had reversed a lower-court ruling that they could keep $504 million the bank mistakenly wired them in 2020. Some lenders had already given back the money they received.