The Institutional Investor has a few more details on this affair [1]. To me it appears Brigade is acting in bad faith here, based on the information available (

The Institutional Investor has a few more details on this affair [1]. To me it appears Brigade is acting in bad faith here, based on the information available (I am not in any way connected to any of the actors here, Citi, Brigade, Revlon, or anybody else). Maybe in is as u/woofie11 explains it in this thread [2], that Brigade is doing a cynical calculation of sumproducts of payouts and probabilities, and hoping for a settlement. I wonder if a judge can't hold them in contempt? This would be a deterrent for this type of shenanigans by other bad faith guys in the future. Without any downside, why would anyone not engage in this type of behavior? [1] https://www.institutionalinvestor.com/article/b1mzydxt246pl9/Brigade-Capital-Claims-It-s-Not-Believable-That-Citi-s-900-Million-Transfer-Was-a-Mistake https://www.institutionalinvestor.com/article/b1mzydxt246pl9... [2] https://news.ycombinator.com/item?id=24226365 https://news.ycombinator.com/item?id=24226365