Citi's $900 Million Revlon Gaffe Resurfaces

The video discusses a $1 billion mistaken payment made by City, which is awaiting an appeal decision to determine if they can recover the funds. Revlon is in bankruptcy, and the rights to the loan are unclear, with potential claims from both City and the lenders. The situation is expected to prolong legal proceedings, benefiting lawyers. The ongoing legal uncertainties could also delay reorganization efforts due to numerous unresolved questions.

What is the amount of the mistaken payment made by City?

What is the current status of Revlon in relation to bankruptcy?

Who does City believe has rights to the loan in the bankruptcy case?

What are the potential implications of the ongoing appeal for City?

What might be the impact of legal questions on Revlon's reorganization efforts?