Citibank Seeks Freeze on Erroneous Transfers During Appeal
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Citigroup Inc. asked a federal judge to freeze more than $500 million the bank mistakenly sent to Revlon Inc. creditors, saying the money could be distributed while it appeals his ruling that it’s not entitled to the funds.
The bank asked U.S. District Court Judge Jesse Furman in a court filing Tuesday to issue an injunction preserving the status quo, saying without it the creditors might send the money to hundreds of investors around the world.