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In re Citibank August 11, 2020 Wire Transfers
Case Number:
1:20-cv-06539
Court:
Nature of Suit:
Contract: Recovery/Enforcement
Judge:
Firms
Companies
- Brigade Capital Management LLC
- Citigroup Inc.
- Clearing House Payments Co. LLC
- Highland Capital Management LP
- Investcorp Bank BSC
- Revlon Inc.
- Symphony Asset Management LLC
- ZAIS Group LLC
Sectors & Industries:
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December 16, 2022
Citi, Revlon Lenders Ink Deals Ending $500M Transfer Battle
Citibank has reached settlements with all 10 lenders to Revlon Inc. in a yearslong legal battle over the lenders returning $500 million in disputed funds, according to a letter filed Friday in New York federal court.
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December 09, 2022
Celsius To Hold Customer Crypto, Alex Jones' Personal Ch. 11
Celsius Network account holders were told they'll have to wait to get their crypto back, Alex Jones filed for personal bankruptcy, and a dispute over the lease for the former Sears store in the Mall of America reached the U.S. Supreme Court. This is the week in bankruptcy.
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December 06, 2022
Citi, Revlon Lenders Nearing End To $500M Transfer Fight
Lenders to Revlon Inc. that lost a legal battle to keep $500 million accidentally wired to them by Citibank are close to finalizing agreements to give back the disputed funds and end their litigation with the bank, according to a letter filed late Monday in New York federal court.
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May 12, 2021
Citi Denied $500M Freeze Extension In Revlon Transfer Fight
A New York federal judge ruled Wednesday that a group of Revlon lenders that were accidentally wired more than $500 million by Citibank NA last summer should be able to have access to that money while the bank takes its clawback effort to the Second Circuit, though he won't be unfreezing the funds just yet.
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April 09, 2021
Citi Cites Archegos In Push For $500M Revlon Transfer Freeze
Citibank NA on Friday raised the specter of the Archegos Capital Management collapse in urging a New York federal judge to extend a court-ordered freeze to ensure the safety of more than $500 million in mistakenly transferred funds that the bank is waging an appeal over to claw back from Revlon Inc. creditors.
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March 18, 2021
2nd Circ. Expedites Citi Appeal In $500M Revlon Transfer Fight
The Second Circuit agreed Thursday to fast-track Citibank NA's challenge to a New York federal judge's decision allowing Revlon Inc. creditors to keep more than $500 million that the bank mistakenly wired them last summer, an amount the bank is also pushing to keep under a court-ordered freeze for now.
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March 15, 2021
Revlon Lenders Fight Citi Bid To Keep $500M Under Freeze
Revlon Inc. creditors that were mistakenly wired more than $500 million by Citibank NA urged a New York federal judge on Friday to release the funds from a monthslong freeze while the bank heads to the Second Circuit in its fight to get the money back.
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March 03, 2021
Citi Wants Its $500M Kept On Ice For Transfer Fight Appeal
Citibank NA moved Tuesday for an injunction while it appeals its fight to recover more than $500 million it inadvertently transferred to creditors of Revlon Inc., urging a New York federal judge to keep the funds under a court-ordered freeze after he ruled the bank isn't entitled to get them back.
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February 16, 2021
Citi Can't Recover Funds Sent In $900M Revlon Loan 'Blunder'
A New York federal judge ruled Tuesday that Citibank NA cannot claw back hundreds of millions of dollars it mistakenly wired to Revlon Inc. lenders last summer, rejecting the bank's legal quest to clean up what he called "one of the biggest blunders in banking history."
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December 02, 2020
Citi Judge Questions Jurisdiction In 'Mistake' Transfer Case
A New York federal judge said on Wednesday that he had "regrettably" overlooked a potential jurisdictional problem in Citibank NA's suits over a $900 million "mistake" payment that was made to Revlon Inc. lenders.