In last week’s edition of FFF, we discussed the Revlon case involving an erroneous payment by an administrative agent to the syndicate lenders, which is currently up on appeal before the Second Circuit Court of Appeals....more
7/23/2021
/ Borrowers ,
Contract Terms ,
Credit Agreements ,
Financial Services Industry ,
Financial Transactions ,
Investment Funds ,
Lenders ,
Loan Agreements ,
Loan Repayment Issues ,
Loan Syndication and Trading Association (LSTA) ,
Revlon ,
Syndicated Loans
Summary of Case -
On August 11, 2020, the administrative agent in a loan to Revlon intended to make an interest payment to the lender syndicate and instead mistakenly wired almost $900 million of its own money to the...more
7/16/2021
/ Agents ,
Borrowers ,
Consumer Financial Products ,
Creditors ,
Interest Payments ,
Loan Agreements ,
Loan Syndication and Trading Association (LSTA) ,
Loans ,
Overpayment ,
Revlon ,
Syndicated Loans ,
Wire Transfers