A February 16, 2021 decision of the United States District Court for the Southern District of New York held, in In re Citibank August 11, 2020 Wire Transfers, 520 F. Supp. 3d 390, that lenders who received almost $900 million mistakenly wired to them by Citibank (the administrative agent for a $1.8-billion syndicated seven-year term loan to Revlon [2016 Loan]) were entitled to keep the money.
USA, New York, Banking, Insolvency & Restructuring, Litigation, Davies Ward Phillips & Vineberg LLP, Clawback/avoidance/preferences/fraudulent transfers, Avoidance/clawback, Citibank, U.S. Court of Appeals
"Whenever there is change, and whenever there is uncertainty, there is opportunity."Mark Cuban, American businessman and investor
In the current global market, very few things are clear other than that volatility and change are ever-present.
Australia, European Union, Global, United Kingdom, Banking, Corporate Finance/M&A, Insolvency & Restructuring, Public, Corrs Chambers Westgarth, Brexit