Citigroup v Brigade Capital Management: Difference between revisions

Citigroup v Brigade Capital Management (view source)

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	{{a\|casenote\|~~[[File:Seymour.jpg\|thumb\|450px\|center\|“They say ''[[indebitatus assumpsit]]'' is back in style. I say it never went out.”]]~~}}A judgment that will surely strike terror into earnest hearts in the [[Trust and agency professional\|global trust and agency community]], the US District Court’s [https://int.nyt.com/data/documenttools/ruling-on-citi-s-900-million-transfer-to-revlon-lenders/5f57c39ebdb6e58c/full.pdf stonking 105-page judgment] in the {{casenote\|Citigroup\|Brigade Capital Management}} addresses a perfect storm of unexpected factors to come to quite the eye-catching — well, eye-''watering'', at any rate — conclusion.		{{a\|casenote\|{{stupidbanker}}}}A judgment that will surely strike terror into earnest hearts in the [[Trust and agency professional\|global trust and agency community]], the US District Court’s [https://int.nyt.com/data/documenttools/ruling-on-citi-s-900-million-transfer-to-revlon-lenders/5f57c39ebdb6e58c/full.pdf stonking 105-page judgment] in the {{casenote\|Citigroup\|Brigade Capital Management}} addresses a perfect storm of unexpected factors to come to quite the eye-catching — well, eye-''watering'', at any rate — conclusion.

	Headline: Citigroup, who as Revlon’s [[loan servicing agent]], accidentally paid half a billion dollars of principal to lenders when it only meant to pay $8m of interest, ''couldn’t have its money back''.		Headline: Citigroup, who as Revlon’s [[loan servicing agent]], accidentally paid half a billion dollars of principal to lenders when it only meant to pay $8m of interest, ''couldn’t have its money back''.