What a surprise it must have been when the creditors of the troubled cosmetics company Revlon received huge returns. Unfortunately, it did not last too long, because Citigroup, which handled transfers, made a mistake and accidentally transferred a total of 900 million to various companies. dollars (PLN 3.3 billion), reports the BBC. Companies of course they were asked for a refund, which the vast majority did quickly. However, not all companies complied with Citigroup’s appeal.
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Brigade Capital is delaying the return of nearly $ 200 million. for Citrigroup for an accidental transfer
Citigroup planned to transfer only $ 1.5 million to the Brigade Capital account, which was to cover interest on the loan for Revlon at $ 174.7 million. As a result of a system error, the company received over one hundred times more than planned, i.e. $ 176.2 million. Brigade Capital, like other companies, was asked to refund the overpayment, but refused to do so and to date has not returned the money. The company is delaying the transfer, despite the “evidently random nature of the transfer of funds”, which moreover belong to the bank and not Revlon. Brigade Capital does not comment on the situation, avoiding not only official announcements, but also statements to the press (the BBC refused).
Citigroup turned to New York City for assistance court federal government, which is to force the return of overpaid funds. Revlon, who took out a loan, was hit hard by the pandemic crisis koronawirusa. One of the creditors is Bridge Capital, which has sued the cosmetics company over its debt restructuring plans.
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