‘Unjust Enrichment’ and Citi’s $900 Million Error

Citigroup Inc. says an employee error caused it to mistakenly pay out more than $900 million of its own money to a group of lenders expecting an interest payment on behalf of Revlon Inc. So far at least one of the lenders has given the money back, but the bank is suing 11 others — including Brigade Capital Management, HPS Investment Partners and Symphony Asset Management — who say the money should be regarded as payment of Revlon’s debt. The case, which is set for a November trial, raises the