| Citibank
Wire Transfer Case Sunday Stipulation Adds
Luxembourg Brigade Transactions
By Matthew
Russell Lee, Patreon Song
BBC
- Guardian
UK - Honduras
- ESPN
SDNY COURTHOUSE,
Dec 13 – As Citibank tries to
recoup the money it wired out
on August 11, 2020, the
virtual / Zoom trial began on
December 9 before U.S.
District Court for the
Southern District of New York.
Inner City Press is covering
it.
Here
for now some of the Day 1 blow
by blow.
And Day 2
documents / Defendants
exhibits zipped on Patreon here, one on
DocumentCloud here,
saying "Please retain the
funds received 8/11 into
Battalion CLO VIII Ltd. on
account of the Revlon Term
Loan 2016 pending further
instruction. Please do not
book, and carry the funds as a
cash break for the time
being."
Now on
Sunday December 13, this
stipulation about an
additional wire transfer: "The
parties stipulate: 1. In
addition to the two
international wire transfers
described in the Stipulation
and Order dated December 9,
2020 (see ECF No. 209),
another one of the wire
transfers sent by Citibank,
N.A. on August 11, 2020 in
connection with the 2016
Revlon Term Loan—a
$7,510,866.73 transfer
directed to the
Brigade-managed Mediolanum
Best Brands, which is
domiciled in Ireland—was wired
to a bank account located in
Luxembourg for the benefit of
that Brigade-Managed fund."
Watch this site - and hear,
for now, this song.
And here's
a document from Day 3, stating
"It looks like
they erroneously released
paydown payment and are asking
for it back. Do you agree?" Here
on DocumentCloud, full Zip on
Patreon here.
On Day 3, after
discussion of springing
maturity, it got to this:
whether the defendants had
waived privilege by excusing
their refusal to return the
money as being based on legal
advise, including from at
least out outside law firm.
Judge Furman ended the trial
at noon, setting a Monday 7 pm
deadline for some filings and
musing that closing arguments
might be Tuesday afternoon.
The case is
In re Citibank August 11, 2020 Wire
Transfers, 20-cv-6539 (Furman)
***
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