Aug 21 (.) – Citigroup Inc filed a third lawsuit on Friday in its latest attempt to recover nearly $ 1 billion that it mistakenly sent to Revlon Inc.’s lenders.
The third largest bank in the United States has so far sued a dozen firms after an “operational error” caused it to transfer $ 900 million of its own funds to Revlon creditors. a day after the troubled cosmetics company was sued for its restructuring tactics.
Several hundred million dollars has already been returned to the bank, Citi said in an emailed statement. But he has had to take legal action to recover more than $ 500 million from lenders who refuse to repay the payment.
“All funds owed to Citi have now been returned or frozen by court order,” the bank said in the statement. “We believe that the law is on our side and that we will recover the outstanding funds.”
(Report by Imani Moise, Edited in Spanish by Manuel Farías)