Re:Judge: Citibank isn't entitled to $500M it sent to variou...
by kenneth on Thursday February 18, 2021 @11:17AM
(#26181682)
The value of the debt is 42¢on the dollar. So Citi is down 58% on the book value of the $500M in debt. They lost close to $300M from the mistake.
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Re:Judge: Citibank isn't entitled to $500M it sent to variou...
by CydeWeys on Thursday February 18, 2021 @12:19PM
(#26182601)
Those are unrealized paper losses. The final accounting can end up being a loss of anything in the range of $0-500M depending on how it all shakes out (whether Revlon goes bankrupt, whether Citibank sells the loans on at their reduced valuations now or holds on, and how the appeal goes).