Ouch, That Hurts

Citigroup made a huge mistake last summer, when instead of transferring an $8 million interest payment from Revlon to its creditors, it transferred nearly $900 million of the bank’s own funds — the full amount of principal on the loan that wasn’t due for another few years. Some creditors promptly returned $400 million of the mistakenly wired money, but 10 others refused to return $500 million. The dispute ended up in court.

Yesterday, unexpectedly, a New York federal judge said the firms could keep the cash, despite acknowledging that the money had been transferred in error.

- Ouch, That Hurts

кто-то будет расстрелян