The hedge funds strike back

Against the run of play, hedge funds score a late equaliser and are right back in the game.

Because you’re worth it.

On Tuesday, the US District Court, Southern District of New York energised a slow half-term week by ruling that Citibank who, in August last year, accidentally paid a half-billion odd dollars to some hedge funds on behalf of Revlon, who didn’t ask it to, couldn’t have the money back.

It’s a fascinating case involving curly concep…