WebJun 20, 2024 · In August 2024, Citigroup mistakenly used its own money to repay a $900mn term loan it administered on behalf of Revlon that was held by multiple asset management groups. Holders of $400mn of the ... Web— the amounts of principal and interest that Revlon owed on the loan to its lenders. The question in this case is whether Citibank is entitled to get the money back or whether the lenders are allowed to keep it. Case 1:20-cv-06539 …
Citibank Loses Bid to Recall $500 Million in Mistaken …
WebJul 24, 2024 · Last year, Citibank accidentally sent $900 million to lenders of the makeup company, Revlon. Mistaken payments happen all the time in finance, and it's sort of understood that the thing to do is ... WebFederal judge Jesse Furman ruled last week that Citigroup will not be able to recoup half a billion dollars of its own money after it accidentally sent Revlon creditors nearly $1 billion. how is hanukkah celebrated kids
Citibank’s Billion-Dollar Mistake And How It Turned Out Two …
WebSep 12, 2024 · In 2016, Revlon Inc. borrowed money from some banks and hedge funds. Citigroup Inc. was the administrative agent on the loan, in charge of doing stuff like forwarding payments from Revlon to the ... WebJun 12, 2024 · Some lenders gave the money back to Citi, but others kept roughly $500 million of the accidental payment. FINANCIER RONALD O. PERELMAN LISTS 9-ACRE HAMPTONS ESTATE FOR $115M WebSep 9, 2024 · In August 2024, Citi accidentally sent Revlon lenders — including Brigade Capital Management, Symphony Asset Management, and HPS Investment Partners — … how is hanukkah related to christmas