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Search resuls for: "Ronald Perelman"


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Envisioned two decades ago to add vibrancy and draw people to a place of devastation and mourning, the Perelman Performing Arts Center is finally arriving at a very different ground zero. Still, organizers believe the arts space, also called “PAC NYC,” has an important role to play in one of the most sensitive, historic spaces in the United States. “The performing arts center is kind of an amenity for a luxury neighborhood that they built,” said Todd Fine, who runs a advocacy business for historical preservation in lower Manhattan. Early on, the arts center was to house three established groups — two theaters and a visual arts museum — plus a new museum celebrating freedom. Then he came to see it as a step forward for the trade center and on a personal level, an embrace of living life fully.
Persons: It's, , Khady Kamara, , Bill Rauch, Joshua Ramus, Mike Bloomberg, Ronald Perelman, “ There’s, ” Bloomberg, Laurence Fishburne, Jenna Bush Hager, Barbara Pierce Bush, ” Rauch, Kamara, Todd Fine, Rauch, Perelman, Craig Peterson, James Giaccone, Joseph Giaccone, ” Giaccone Organizations: Trade, Perelman Performing Arts Center, “ PAC, Performing Arts Center, Pentagon, Manhattan Cultural Council, Tuesday's Locations: United States, Pennsylvania, Afghanistan, Manhattan
[1/2] The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. Citigroup, as Revlon's loan agent, had accidentally used its own money in August 2020 to prematurely pay off an $894 million loan owed by billionaire Ronald Perelman's now-bankrupt cosmetics company. "About three quarters of the mistaken payments have now been returned to Citibank," lawyers for both Citigroup and the lenders said in a letter to a federal judge. Citibank expects to file notices of dismissal in the coming weeks if payments are made as per the agreement, the document said. Reporting by Ann Maria Shibu and Urvi Dugar in Bengaluru; Editing by Chris Reese and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.
The potential settlement was discussed in a joint letter by lawyers for Citigroup and the lenders, which include hedge funds and investment funds, filed late Monday night in Manhattan federal court. "The parties have a mutual interest in resolving the time frames to enable resolution," the letter said. Following the earlier ruling, Citigroup had lowered previously reported profit to reflect $390 million of additional legal expenses. Last week, the lawyers said "material terms" of a potential settlement called for Citigroup to recoup its money and transfer some interest and amortization payments. The case is In re Citibank August 11, 2020 Wire Transfers, U.S. District Court, Southern District of New York, No.
In a Thursday filing in Manhattan federal court, lawyers for the bank and the lenders said they have been discussing a "consensual resolution" to end Citigroup's August 2020 lawsuit to recoup the mistaken payment. Citigroup, which was Revlon's loan agent, had accidentally used its own money in August 2020 to pay off the company's $894 million loan three years early instead of paying $7.8 million in interest. Furman sided with them in February 2021, leading Citigroup to lower previously reported profit to reflect $390 million of added legal expenses. The case is In re Citibank August 11, 2020 Wire Transfers, U.S. District Court, Southern District of New York, No. Reporting by Jonathan Stempel in New York; Editing by Chris Reese and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.
Law firms including Olshan Frome Wolosky LLP and Schulte Roth & Zabel are go-tos for activist investors looking to change how companies do business. Kai Liekefett, who co-chairs Sidley's shareholder activism practice, last year successfully defended cloud company Box Inc. in a proxy fight by Starboard. Liekefett has also defended clients against major activist investors including Carl Icahn and Trian Partners. He has advised clients against major activist investors including Trian, Carl Icahn, Starboard Value and the billionaire Paul Singer. Lawrence Elbaum and Patrick Gadson, Vinson & ElkinsPatrick Gadson (L) and Lawrence Elbaum (R), co-heads of Vinson & Elkins' shareholder activism group.
NEW YORK, Nov 10 (Reuters) - Citigroup Inc (C.N) is in talks to end litigation against hedge funds and investment firms that it mistakenly paid about $500 million on a loan owed by Revlon Inc (REVRQ.PK), billionaire Ronald Perelman's now-bankrupt cosmetics company. Both sides had been expected to apprise U.S. District Judge Jesse Furman in Manhattan on their next steps in the case by Nov. 10. Others refused, saying Citigroup paid what they were owed and noting that Perelman had bailed out Revlon before. Circuit Court of Appeals in Manhattan said it would improperly leave them with a "huge windfall" and returned the case to Furman. The case is In re Citibank August 11, 2020 Wire Transfers, U.S. District Court, Southern District of New York, No.
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