Citigroup Gets Almost Half of $900 Million Revlon Funds Frozen

Citigroup Inc. scored court orders freezing almost half of the more than $900 million it says was accidentally sent to Revlon Inc. lenders this month

A federal judge Wednesday froze $127.3 million that HPS Investment Partners LLC has refused to return and $109.7 million that Symphony Asset Management LLC is holding. The same judge on Tuesday issued a temporary order freezing $174.7 million that Brigade Capital Management LP has declined to give back.

Citigroup is suing all three, which together hold $411.7 million in Revlon debt. The bank had been acting as an agent on Revlon’s loan, collecting payments from ...