Second Circuit Determines Agent’s Mistaken Payment of Principal to Lenders Does Not Invoke “Discharge-For-Value” Exception to Restitution

On September 8, 2022, a three-judge panel in the United States Court of Appeals for the Second Circuit (the “Second Circuit”) reversed the United States District Court for the Southern District of New York (the “District Court”) when it determined that lenders of a syndicated loan facility to Revlon, Inc.

Filed under:
USA, New York, Banking, Insolvency & Restructuring, Litigation, Vinson & Elkins LLP, Second Circuit, United States bankruptcy court, US District Court for SDNY
Authors:
William L. Wallander , David S. Meyer , Steven M. Abramowitz
Location:
USA
Firm:
Vinson & Elkins LLP