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Fuerte preocupación en ahorristas entrerrianos tras el retiro de una medida cautelar

Fuerte preocupación en ahorristas entrerrianos tras el retiro de una medida cautelar
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Names in the News

Names in the News
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Citibank s $900 Million Black Swan | Lowenstein Sandler LLP

To embed, copy and paste the code into your website or blog: On February 16, Judge Furman of the Southern District of New York handed down a ruling in In re Citibank August 11, 2020 Wire Transfers concluding that Citibank could not recover $900 million inadvertently wired to lenders. The entire 105-page decision[1] is a fascinating read, describing a near-perfect storm of convoluted financial arrangements, technological limitations, and all-too-understandable human error that culminated in the following screen shot from Citibank’s internal system:[2] The premise was that the user needed to direct a principal payment to an internal Citibank account rather than out of the bank to the lenders, while allowing the payment of interest to leave the bank. To make this adjustment, the user clearly directs “PRINCIPAL” to an “Internal G[eneral] L[edger]” account, directing the system to “Overwrite [the] default settlement instruction.” In fact, to accomplish the intended red

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