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https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEH4B1AY_L.jpgU.S. District Judge Jesse Furman in Manhattan also gave Citigroup seven days to appeal, and said if it does his existing temporary restraining order over the assets will remain in effect pending a ruling.
A spokeswoman for Citigroup had no immediate comment.
Citigroup sought the extended freeze after Furman ruled on Feb. 16 that 10 asset managers, whose clients include the Revlon lenders, did not have to return the $504 million.
The dispute arose after Citigroup, acting as Revlon’s loan agent, mistakenly used its own money last August to repay an $894 million Revlon loan that was not due until 2023, when it intended to make only a small interest payment.
In response, asset managers including Brigade Capital Management, HPS Investment Partners and Symphony Asset Management rejected Citigroup’s claim that they received a windfall, saying they received exactly the amount the cosmetics company owed, to the penny.