A “Black Swan Event”: New York Federal Court Rules that Lenders are Entitled to Keep $500 Million Mistakenly Paid by Citibank
Written by David Conaway, Attorney at Law, Shumaker, dconaway@shumaker.com We are closely following Revlon on behalf of several creditor interests. In the context of a series of complex re-financings and roll-up transactions by Revlon in May, 2020, human error caused a $500 million loss for Citibank. On February 16, 2021, in the case of In […]
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