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CITIGROUP REVLON CASE
Wipro employees had a role in Citibank's big blunder that saw $900 million goneThe case involves one where Citibank acted as an administrative agent for a term loan taken by Revlon, and where it was to wire approximate...26 Feb, 2021, 11.50 AM IST- US judge: Citigroup can't get back $500 million it wrongly paid outThe case centers on payments totaling some $500 million Citigroup sent in August 2020 to 10 financial companies who were parties to a term ...17 Feb, 2021, 09.27 PM IST
- Citigroup trial reveals chain of gaffes that led to the $900 million blunderAt the heart of the breakdown was a system known inside the bank as the “six eyes” approval process. Under the six-eyes protocol, three peo...10 Dec, 2020, 08.36 AM IST
- Bank error in your favour: Citi’s fight to reclaim $900 millionUnless there’s a last-minute settlement, the trial -- over one of the biggest banking errors in recent memory -- will be closely watched on...08 Dec, 2020, 10.01 AM IST
- From art worth millions to his 257-foot yacht, billionaire Ronald O. Perelman is selling almost everything as the pandemic roils his empireAt an age when most fellow billionaires are kicking back, Perelman, 77, is facing a range of financial challenges.19 Sep, 2020, 02.42 PM IST
- Citigroup cites $900 million human error. Lenders are puzzledThe bank — which said it has been in the process of upgrading its loan operations platform after a review it undertook last year — said it ...25 Aug, 2020, 09.56 AM IST
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