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The Second Circuit vacated a February, 2021 decision by the District Court for the Southern District of New York in favor of the defendant loan managers which held the Loan Managers were not obligated to return an accidental payment by Citibank of approximately $500 million. ....
In a decision rendered September 8, 2022, a three-judge panel for the United States Court of Appeals for the Second Circuit (the “Court”) vacated a February, 2021 decision by the United. ....
Less than a month after a New York judge ruled that lenders accidentally repaid by Citigroup could keep their money, Citi is trying to stop the firms from using it. On Tuesday, the investment firm filed a request asking the judge to require the lenders to freeze the transferred funds until Citi files an appeal to a higher court. According to Citi’s filing, “the money represents a lottery-like windfall of hundreds of millions of dollars [for the lenders]. They were not expecting to receive this money for several years, if at all.” The filing refers Citi’s “mistaken” repayment of a $900 million loan for cosmetics maker Revlon. The bank had acted as an intermediary between Revlon and the lenders. Although Revlon hadn’t transferred the $900 million to Citi, the bank which said it was intending only to pay the interest due to the lenders repaid the loan in full, court records show. ....
Citi ne pourra pas récupérer 500 millions de dollars crédités par erreur bfmtv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bfmtv.com Daily Mail and Mail on Sunday newspapers.
Incroyable mais vrai aux États-Unis: la banque verse 900 millions de dollars par erreur, «les prévenus ont le droit de garder l'argent»! sudinfo.be - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sudinfo.be Daily Mail and Mail on Sunday newspapers.