(Bloomberg) — Brigade Capital Management LP says it can’t return the $175 million that Citigroup Inc. mistakenly paid — part of a $900 million error — because the money went to other funds.“As Citibank is well aware, Citibank wired money to approximately 40 different funds that employ Brigade as their investment/collateral manager, and thus must know that Brigade itself was not a lender and does not have the money for which Citibank is now suing,” Brigade said in a court filing Tuesday.In a lawsuit filed on Monday in New York, Citigroup asked a federal court to order Brigade to return …read more
Source:: Yahoo Finance
