Date set for fresh Citigroup – Terra Firma battle over EMI

November 2014

CORPORATE LAW
Recorded music

 

The battle over Citigroupo’s role in Terra Firma’s takeover of EMI is set to head back to the courtroom. The legal dispute went before a court in New York in 2010 and Citigroup prevailed but the appellate court ordered a new trial on the basis that some specifics of English law – which governed the acquisition – had not been properly explaining in the New York courtroom. It was (finally) agreed by both Terra Firma and Citigroup to move the dispute to the London courts and a date has been set for that hearing in June 2016. Confirming the trial date, Judge Julian Flaux said: “Serious allegations of fraud are made against the defendant and against three individual bankers”.

 

http://www.completemusicupdate.com/article/date-set-for-terra-firma-and-citigroups-emi-deal-retrial/

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