Citigroup Granted Freeze of Funds Erroneously Sent to Revlon Creditors

Citigroup (NYSE: C) might just get back all of the nearly $900 million it mistakenly sent to a clutch of Revlon (NYSE: REV) creditors, some of whom are refusing to return the money.

Citigroup sued one of those parties, Brigade Capital Management -- a company that operates a group of funds that are among the creditors -- to force it to return its funds' share of the money. U.S. District Judge Jesse Furman granted the bank's request to freeze the $175 million at issue.

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Source Fool.com