Email from Cadwalader

From

To

Subject

Email
On February 16, 2021, the United States District Court in the Southern District of New York (the “Court”) issued a decision In Re Citibank August 11, 2020 Wire Transfers that upheld the “discharge for value” doctrine and ruled that certain lenders (the “Defendants”) were entitled to retain funds erroneously sent by the administrative agent (the “Plaintiff”) under a credit facility to which the Defendants were a party. https://www.cadwalader.com/resources/clients-friends-memos/when-six-eyes-just-arent-enough