Revlon bankruptcy complicated by Citi’s $900mn error

Revlon bankruptcy complicated by Citi’s $900mn error

As Revlon prepares to negotiate its restructuring after filing for bankruptcy last week, the American cosmetics group still does not know the identity of all its key creditors, a consequence of a bizarre banking mistake. In August 2020, Citigroup mistakenly used its own money to repay a $900mn term loan it administered on behalf of …

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