There's been a flurry of regulatory activity in the UK and Europe over the past few weeks. Here's a look at the highlights.
European Union, United Kingdom, Banking, Capital Markets, Company & Commercial, Environment & Climate Change, Insolvency & Restructuring, Insurance, Cadwalader Wickersham & Taft LLP, Libor, ESG, Financial Conduct Authority (UK), International Organization of Securities Commissions, Solvency II Directive (2009/138/EU)
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