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University professors back Citi as it challenges $900M payment error ruling

Citibank has gained the support of 12 University professors, as it challenges a district court ruling in $900 million payment error case.

District Court rules that lenders can use money they received due to Citi’s $900 million payment mistake as they see fit.

Citi asks Court to freeze funds sent to Revlon lenders due to $900 million payment error as it seeks to appeal from ruling.

Judge orders that non-returning lenders are entitled to keep the money that Citibank transferred by mistake.

The New York Southern District Court is prepared to proceed with trial in the case brought by Citibank over a $900 million payment error.