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As far as the debtor, to whom Brigade "provided work", is concerned no payment was intended to have been made. It was a mistake committed by the bank. From a
by TAForObvReasons 6y ago
As far as the debtor, to whom Brigade "provided work", is concerned no payment was intended to have been made. It was a mistake committed by the bank. From a news article cited in the post:
> “Revlon did not pay down the loan or any part of the loan,” a representative for [Revlon] said in an emailed statement.
https://theprint.in/economy/citigroup-accidentally-wired-900-million-to-revlon-lenders-now-its-fighting-to-get-it-back/482438/ https://theprint.in/economy/citigroup-accidentally-wired-900...
- 1024core 6y agoMaybe Revlon was planning on getting a lower interest rate loan. And that loan fell through at the last moment, and now they're claiming it was a mistake?
- nrmitchi 6y ago1) If you're refinancing a loan, you do not pay off the old one until you have the new one. This is not only common sense, but typically before you get the new loan, you don't have funds to pay off the old one even if you wanted to. 2) Revlon did not make this payment. The payment was made in error by Citibank, and Revlon was not part of it. The conjecture of "Revlon made a bad decision and is now trying to back-track", while technically _possible_ sounds like a conspiracy theory.