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NEW YORK (Reuters) -A federal judge on Wednesday rejected Citigroup Inc s request to extend a freeze on about $504 million it accidentally sent a group of Revlon Inc lenders, while it appeals his decision that they can keep the money.
U.S. District Judge Jesse Furman in Manhattan said it was tempting to extend the freeze, given the large dollar amount and the bank s argument that lenders should do the right thing rather than enjoy a windfall from its unprecedented mistake.
But he said an appeal would face an uphill battle and Citigroup had not demonstrated irreparable harm absent a freeze.