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Citigroup gets temporary freeze on brigade money in $900-million error

A federal judge Wednesday froze $127.3 million that HPS Investment Partners LLC has refused to return and $109.7 million that Symphony Asset Management LLC is holding

Citigroup
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The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada | Photo: Reuters

Bloomberg
Citigroup Inc. scored court orders freezing almost half of the more than $900 million it says was accidentally sent to Revlon Inc. lenders this month.
 
A federal judge Wednesday froze $127.3 million that HPS Investment Partners LLC has refused to return and $109.7 million that Symphony Asset Management LLC is holding. The same judge on Tuesday issued a temporary order freezing $174.7 million that Brigade Capital Management LP has declined to give back.
 
Citigroup is suing all three, which together hold $411.7 million in Revlon debt. The bank had been acting as an agent on Revlon’s loan, collecting payments from
Topics : Citigroup

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