Law360 reports Citi Can’t Recoup $900M ‘Mistake’ Transfer To Revlon Lenders

From Law360:

Law360 (February 16, 2021, 12:24 PM EST) — A New York federal judge ruled Tuesday that Citibank NA cannot claw back $900 million it mistakenly wired to Revlon Inc. lenders last summer, rejecting the bank’s legal quest to clean up what he called “one of the biggest blunders in banking history.”In a more than 100-page opinion, U.S. District Judge Jesse Furman said that while Citibank alerted the lenders to its error within a day of the mistaken Aug. 11 transfers, New York law entitles the lenders to keep the money in this particular case because they were owed it and reasonably believed it was an intentional prepayment of…

Continue reading Citi Can’t Recoup $900M ‘Mistake’ Transfer To Revlon Lenders on Law360

Or take your claim to FairShake, the consumer advocacy service.


Read More:

FairShake is aggregating links to consumer news stories across the web. We claim no rights to the snippets featured.

Latest news

The Amex Platinum Card has a $550 annual fee—but is it worth it?, according to CNBC

From CNBC: The Platinum Card® from American Express can help you travel in style with luxury benefits ranging from airport...

Top Verizon story from Total Telecom: Verizon almost doubles AT&T’s total spend in $80bn spectrum auction

From Total Telecom: Last month, the US completed the first stage of its C-band (3.7–4.2GHz) spectrum auction, raising an enormous...

Latest AT&T customer news: AT&T spending $23 billion on wireless spectrum in auction, though not near as much as Verizon

From Dallas Business Journal: AT&T is spending more than at least some expected on wireless network spectrum, yet a key...

Latest Chase Bank customer news: Doesn’t everyone chase boiled eggs down a hill to pay tribute to the resurrection?

From The Guardian: The wheels fell off my plans for this year’s Lent abstinence within three days. Or, more accurately,...

Top AT&T story from FierceWireless: AT&T’s debt hampers its C-band aspirations

From FierceWireless: AT&T spent years cobbling together a widely diverse business, but lately it’s been in the news for its...

Calif. Voters ‘Clearly’ Against Uber Drivers’ Suit, Judge Says, according to Law360

From Law360: Law360 (February 25, 2021, 9:49 PM EST) -- A California federal judge pushed Uber drivers Thursday to explain...

You might also likeRELATED
Recommended to you