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
On 24 December 2013 the Companies (Miscellaneous Provisions) Act 2013 was signed into law by the President. The purpose of the legislation is to expedite a number of amendments to existing legislation pending the enactment of the Companies Bill.
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