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Oct 14, 2020

Citigroup drops suit against Investcorp for Revlon payment

Chris Dolmetsch, Bloomberg News

Revlon brand fingernail polish is arranged for a photograph in Tiskilwa, Illinois, U.S., on Wednesday, Feb. 28, 2018. Revlon Inc. is scheduled to release earnings on March 2. , Bloomberg

Citigroup Inc. is dropping claims against one of the entities it sued as part of an effort to get back US$900 million the bank says it accidentally sent to 11 Revlon Inc. creditors.

In a court filing Wednesday, the bank sought to voluntarily dismiss its suit against Investcorp Credit Management LLC, which it said had received US$18.9 million.