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Court reverses on restitution exception in case over mistaken payment- Applying the discharge-for-value doctrine from Sec. 14 of the Restatement (First) of Restitution (1937) — a limited exception to the general rule that mistaken payments must be returned — a federal judge in Manhattan concluded that Revlon Inc.’s...
Recipients of an erroneous $500 million wire transfer that had the financial world buzzing must return the funds, a U.S. Court of Appeals for the…
In a decision rendered September 8, 2022, a three-judge panel for the United States Court of Appeals for the Second Circuit vacated a February, 2021 decision by the United States District Court for the Southern District of New York.
The Second Circuit vacated a February, 2021 decision by the District Court for the Southern District of New York in favor of the defendant loan managers which held the Loan Managers were not obligated to return an accidental payment by Citibank of approximately $500 million.
In a decision rendered September 8, 2022, a three-judge panel for the United States Court of Appeals for the Second Circuit (the “Court”) vacated a February, 2021 decision by the United...