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Browse: Home / 2020 / December / 15 / Citi Was Mocked by Asset Managers: ‘Take the Money and Run’ – Bloomberg

Citi Was Mocked by Asset Managers: ‘Take the Money and Run’ – Bloomberg

By Securities Docket on December 15, 2020, 10:43 am

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

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