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Experts abound in final days of trial over Musk tweet

Experts abound in final days of trial over Musk tweet
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Judge denies Citigroup a longer freeze on botched Revlon transfer

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NEW YORK (Reuters) -A federal judge on Wednesday rejected Citigroup Inc s request to extend a freeze on about $504 million it accidentally sent a group of Revlon Inc lenders, while it appeals his decision that they can keep the money.
U.S. District Judge Jesse Furman in Manhattan said it was tempting to extend the freeze, given the large dollar amount and the bank s argument that lenders should do the right thing rather than enjoy a windfall from its unprecedented mistake.
But he said an appeal would face an uphill battle and Citigroup had not demonstrated irreparable harm absent a freeze. ....

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Citigroup urges longer freeze over botched Revlon payment

Citigroup urges longer freeze over botched Revlon payment
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Citigroup urges longer freeze over botched Revlon payment

Citigroup urges longer freeze over botched Revlon payment
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A botched wire transfer resulted in 'one of the biggest blunders in banking history'

A botched wire transfer resulted in one of the biggest blunders in banking history
Feb 18, 2021, 11:57 AM
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The tower of Citigroup is pictured beside that of One Canada Square, in the Canary Wharf financial district on the Isle of Dogs, December 22, 2019 in London, England. (Photo by Jim Dyson/Getty Images)
A federal judge ruled on Tuesday Citigroup would not be able to recoup its $501 million mistake.
The New York judge s ruling calls the accident one of the biggest blunders in banking history.
We read through the 101-page court document to find four key takeaways.
A federal judge ruled Tuesday that Citigroup will not be able to recoup half a billion dollars of its own money that accidentally sent to Revlon creditors in a financial transaction gone awry last year. ....

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