Citi and revlon
WebFeb 16, 2024 · The August blunder by Citi, Revlon's loan agent, satisfied a nearly $900 million debt that Revlon wasn't due to pay until 2024 and delivered an unexpected … WebFeb 16, 2024 · Citi, which was acting as an administrator for Revlon's 2016 loans, was supposed to send $7.8m in interest payments on behalf of the firm. Instead, last August, it wired nearly $900m to the firm's ...
Citi and revlon
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WebSep 9, 2024 · In August 2024, Citi accidentally sent Revlon lenders — including Brigade Capital Management, Symphony Asset Management, and HPS Investment Partners — … WebAug 21, 2024 · REUTERS/Chris Helgren. (Reuters) - Citigroup Inc filed a third lawsuit on Friday in its latest attempt to recoup nearly $1 billion it mistakenly sent to lenders of …
WebFeb 27, 2024 · Citigroup revised down its fourth-quarter earnings by $323m after suffering a loss in its legal battle to recoup funds it accidentally sent to creditors of its client Revlon. The US bank had hoped ... WebOct 7, 2024 · The regulators’ actions come amid an embarrassing scandal in which a Citi banker accidentally wired $900 million to a group of lenders to the beauty products maker Revlon.
WebFeb 18, 2024 · A man checks his phone near a Citibank branch in Washington, DC. AFP. In what is being termed as “one of the biggest blunders in banking history”, the Banking giant Citibank accidentally transferred USD 900 million (about Rs 6,554 crore) to cosmetic company Revlon's lenders instead of creditors. Citibank committed the mistake while ... WebAug 27, 2024 · An open question is whether Citi’s $900m blunder changes the dynamics of the wider legal battle between the hedge funds and Revlon and the bank over the cosmetics group’s refinancing deal.
WebJun 12, 2024 · Some lenders gave the money back to Citi, but others kept roughly $500 million of the accidental payment. FINANCIER RONALD O. PERELMAN LISTS 9-ACRE HAMPTONS ESTATE FOR $115M
WebSep 8, 2024 · Citigroup, acting as Revlon's loan agent, had in August 2024 intended to make a $7.8 million interest payment on a loan for billionaire Ronald Perelman's now … flint area schools credit unionWebJul 24, 2024 · Last year, Citibank accidentally sent $900 million to lenders of the makeup company, Revlon. Mistaken payments happen all the time in finance, and it's sort of … greater lafayette city busWebDec 19, 2024 · Dive Brief: A federal judge Monday dismissed the case between Citi and creditors of makeup giant Revlon. The 10 creditors that had previously refused to return a collective $504 million from an errant … flint area right to lifeWebDec 10, 2024 · Three employees working for Citigroup Inc. told a federal judge they made errors in processing an interest payment that resulted in the mistaken transfer of $900 million to Revlon Inc. lenders. Details of the blunder were revealed as the workers took the stand on the first day of a trial in which the bank is seeking to recover more than $500 … greater lafayette business expoWebSep 12, 2024 · In 2016, Revlon Inc. borrowed money from some banks and hedge funds. Citigroup Inc. was the administrative agent on the loan, in charge of doing stuff like forwarding payments from Revlon to the ... greater lafayette chamber of commerce indianaWebSep 29, 2024 · The case stemmed from New York-based Citigroup’s August 2024 prepayment of an $894-million loan for Revlon, which lacked enough cash to repay it, that was not due until 2024. Lawyer Neal Katyal ... flint armament riWebAug 17, 2024 · Citibank's latest battle over accidental Revlon loan repayment. Citibank says that Revlon owes it $500 million. Revlon — currently operating under bankruptcy protection — would love to not owe … flint arms usa