Citigroup fails to obtain longer freeze on botched Revlon transfer By Reuters

May 12, 2021 admin Stock News 0

© Reuters. FILE PHOTO: A view of the exterior of the Citibank corporate headquarters in New York, New York, U.S. May 20, 2015. REUTERS/Mike Segar

NEW YORK (Reuters) – A federal judge on Wednesday rejected Citigroup Inc (NYSE:)’s request to extend a freeze on about $504 million it accidentally sent a group of Revlon Inc lenders, while it appeals his decision that they can keep the money.

U.S. District Judge Jesse Furman in Manhattan also gave Citigroup seven days to appeal, and said if it does his existing temporary restraining order over the assets will remain in effect pending a ruling.

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