From: Enrichment - Restitution & Unjust Enrichment Legal Issues <ENRICHMENT@LISTS.MCGILL.CA>
To: ENRICHMENT@LISTS.MCGILL.CA
Date: 30/08/2020 18:58:37
Subject: [RDG] Aiken v Short in the USA

Well, not quite. But an American friend of mine sent me this, which looks a fun case:

https://www.bloomberg.com/news/articles/2020-08-17/citibank-sues-brigade-capital-management-over-mistaken-transfer

 

It seems that Citibank, purportedly on behalf of Revlon, paid $176.2m to Brigade, one of Revlon’s creditors—when it meant to pay $1.5m. Since Brigade was owed $174.7m in principal and $1.5m in interest, their argument seems to be that the payment discharged the debt owed to them: a defence of bona fide payee, as the Americans would say.

 

Fred