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Citigroup cannot recover $644 million it paid out by mistake, US judge rules Posted WedWednesday 17 FebFebruary 2021 at 5:34am A judge said Citigroup s mistake was something no bank may have ever done before, and may never do again . ( Share Print text only Cancel Citigroup is on the hook for almost $US900 million ($1.1 billion) in mistaken payments it sent out, according to a US judgment on Monday (local time) that called the debacle one of the biggest blunders in banking history . Key points: Citigroup sent out almost $1.1 billion to financial companies that were parties to a term loan to Revlon It intended to send out just $10 million worth of interest payments ....
Rs 6554 crore transferred by mistake: Know all about the shocking blunder made by Citibank - As per a US Court ruling, Citibank won't be allowed to recover almost around USD 500 million it mistakenly paid to cosmetic company Revlon's lenders. ....
The case centers on payments totaling some $500 million Citigroup sent in August 2020 to 10 financial companies who were parties to a term loan to cosmetic company Revlon. ....
Citi loses suit to recoup US$500m it wrongly paid ‘IN GOOD FAITH’: The lenders that received the money were justified to think that Revlon was repaying its loan early, a US district judge said AFP, NEW YORK Citigroup Inc is on the hook for almost US$900 million in mistaken payments it sent out, according to a US ruling on Monday that called the debacle “one of the biggest blunders in banking history.” The case centers on payments totaling about US$500 million Citigroup in August last year sent to 10 financial companies that were parties to a term loan to cosmetic company Revlon Inc. ....
Citi loses bid to recall US$500m in wrong payments in massive blunder straitstimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from straitstimes.com Daily Mail and Mail on Sunday newspapers.