NEW YORK (Reuters) – Citigroup Inc is negotiating the return of about $500 million it mistakenly paid a group of hedge funds and investment firms on a loan owed by Revlon Inc, lawyers for the bank and the group said in a Thursday court filing.
The lawyers said both sides had not reached an agreement to end Citigroup’s lawsuit to recoup the money, but said previously disclosed talks on a consensual resolution have been continuing.
They asked for court permission to provide a status update on Dec. 5.
(Reporting by Jonathan Stempel in New York; Editing by Chris Reese)
