A “clerical error” could cost Bank of America and Citibank $51m (£35m) if Heller Ehrman has its way in bankruptcy court, reports The Recorder.

Bank of America, acting for itself and as an agent of Citibank, terminated both institutions’ security interests in Heller on 3 August, 2007, according to public records from the California Secretary of State. The banks admit they made a mistake and want to be considered secured creditors, but courts have not looked kindly on similar errors in the past.