ADVERTISEMENT
  • About
  • Advertise
  • Privacy & Policy
  • Contact
KBN News - Hyderabad Trending News - News From Hyderabad
ADVERTISEMENT
  • Home
  • Hyderabad News
    • AIMIM News
    • City Crime
    • KBN Exclusive
  • Entertainment
    • Bollywood
    • Hollywood
    • Sports
    • Hyderabad Movies
  • India
    • Crime
    • Politics
  • International News
    • Gulf News
    • World News
  • Videos
No Result
View All Result
  • Home
  • Hyderabad News
    • AIMIM News
    • City Crime
    • KBN Exclusive
  • Entertainment
    • Bollywood
    • Hollywood
    • Sports
    • Hyderabad Movies
  • India
    • Crime
    • Politics
  • International News
    • Gulf News
    • World News
  • Videos
No Result
View All Result
KBN News - Hyderabad Trending News - News From Hyderabad
No Result
View All Result
ADVERTISEMENT
Home International News World News

Citibank can’t recover $500 million it paid by mistake to Revlon lenders, rules US court

KBN News by KBN News
February 18, 2021
in World News
0
Citibank can’t recover $500 million it paid by mistake to Revlon lenders, rules US court
0
SHARES
20
VIEWS
Share on FacebookShare on Twitter

Manhattan: Citibank is struggling to recover $500 million which it had transferred to the lenders of a cosmetic company Revlon in August 2020.

After a detailed hearing, a court has ruled that the bank will not be allowed to recover the amount. It also termed it as the biggest blunder in banking history, Money Control reported.

What actually happened?
Last year, Citibank which acts as a loan agent of Revlon had mistakenly transferred the principal amount i.e., $900 million to the cosmetic company’s lenders instead of interest amount.

Soon after realizing the mistake, the bank started attempting to recover it. However, the bank is yet to recover $500 million.

Court’s ruling
When the matter reached a US District Court, Judge Jesse M. Furman ruled that the bank cannot recover the amount as the recipients believed that the payments were for the entire Revlon loan.

After the court’s judgment, Citibank is planning to file an appeal in the case.

Tags: #Citibank#Manhattan#US Court
Previous Post

Coronavirus variants spreading rapidly in Germany, health minister warns

Next Post

KCR not sincere in filling up 1.91 lakh vacancies: Uttam

KBN News

KBN News

Next Post
KCR not sincere in filling up 1.91 lakh vacancies: Uttam

KCR not sincere in filling up 1.91 lakh vacancies: Uttam

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

KBN Social Media

  • Trending
  • Comments
  • Latest
Hyderabad: Man claiming to be Prophet arrested in old city

Hyderabad: Man claiming to be Prophet arrested in old city

May 1, 2021
Sara Ali Khan: My mother has gone through so much more than I have

Sara Ali Khan: My mother has gone through so much more than I have

March 2, 2021
Neha Kakkar recalls the time she used to be ‘thin’

Neha Kakkar recalls the time she used to be ‘thin’

May 1, 2021
Hyderabad: Rowdy Sheeter Kala Feroz Murdered

Hyderabad: Rowdy Sheeter Kala Feroz Murdered

January 26, 2021
PM launches India’s vaccination drive against COVID-19

PM launches India’s vaccination drive against COVID-19

1
2 weeks before killing, Atiq moved SC for protection in UP police custody

2 weeks before killing, Atiq moved SC for protection in UP police custody

0

Learn About How Payday Loans Can Help You Throughout a Temporary Cash Crisis

0

Free Photo Editor – How to Create Your Dream Image

0
2 weeks before killing, Atiq moved SC for protection in UP police custody

2 weeks before killing, Atiq moved SC for protection in UP police custody

April 16, 2023
Never thought BJP govt will give me Padma award; PM proved me wrong, says Ahmed Quadri

Never thought BJP govt will give me Padma award; PM proved me wrong, says Ahmed Quadri

April 5, 2023
Tesla remains EV market leader in US with over 50% share

Tesla remains EV market leader in US with over 50% share

April 5, 2023
Hyderabad: Muslim couple file complaint after right-wing ‘harassment’

Hyderabad: Muslim couple file complaint after right-wing ‘harassment’

April 5, 2023

Recent News

2 weeks before killing, Atiq moved SC for protection in UP police custody

2 weeks before killing, Atiq moved SC for protection in UP police custody

April 16, 2023
12
Never thought BJP govt will give me Padma award; PM proved me wrong, says Ahmed Quadri

Never thought BJP govt will give me Padma award; PM proved me wrong, says Ahmed Quadri

April 5, 2023
19
Tesla remains EV market leader in US with over 50% share

Tesla remains EV market leader in US with over 50% share

April 5, 2023
10
Hyderabad: Muslim couple file complaint after right-wing ‘harassment’

Hyderabad: Muslim couple file complaint after right-wing ‘harassment’

April 5, 2023
27
KBN News – Hyderabad Trending News – News From Hyderabad

KBN News is a popular News Channel made its debut in October 2015 and was rebranded to KBN News on Aug 2, 2017 The vision of the channel is "'BEING TRUE ' -the promise of keeping each individual ahead and informed. KBN News is best defined as a responsible channel with a fair and balanced approach that combines prompt reporting with insightful analysis of news and current affairs.

Follow Us

Browse by Category

  • AIMIM News
  • Bollywood
  • City Crime
  • Crime
  • Entertainment
  • featured
  • Gulf News
  • Hollywood
  • Hyderabad Movies
  • Hyderabad News
  • India
  • International News
  • KBN Exclusive
  • National news
  • Politics
  • Sports
  • Uncategorized
  • Videos
  • World News

Recent News

2 weeks before killing, Atiq moved SC for protection in UP police custody

2 weeks before killing, Atiq moved SC for protection in UP police custody

April 16, 2023
Never thought BJP govt will give me Padma award; PM proved me wrong, says Ahmed Quadri

Never thought BJP govt will give me Padma award; PM proved me wrong, says Ahmed Quadri

April 5, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2021 KBN News - KBN News - Trending news of Hyderabad.

No Result
View All Result

© 2021 KBN News - KBN News - Trending news of Hyderabad.