Recipients of Citigroup Inc.’s $900 million error couldn’t help but mock the bank — and that could help it get the money back.
As it fights to recover funds it sent Revlon Inc. lenders in August, Citibank is working to convince a judge that the 10 asset managers it’s suing knew the payment was a mistake. At a trial on Monday, lawyers for the bank cited electronic chats between employees of some of the investment firms as evidence.
Source: Citi Was Mocked by Asset Managers: ‘Take the Money and Run’ – Bloomberg
