THE WHAT? Citigroup is said to be in talks with a view to recouping the US$500 million it paid over to Revlon creditors in error in 2020, according to a report published by Reuters.
THE DETAILS A federal appeals court ruled that the monies should be repaid to Citibank by the likes of Brigade Capital Management et al back in September, overturning a previous decision siding with the creditors.
THE WHY? The parties involved are seeking a ‘consensual resolution’ to the dispute and expect to update the courts imminently, Reuters reports.
The post Citigroup in talks over retrieval of mistaken Revlon payout appeared first on Global Cosmetics News.
