Pursuits
Hands Fails Again in Citigroup Lawsuit Over EMI Deal
- Second time Hands fails to win case over failed EMI takeover
- Terra Firma will pay Citigroup’s legal costs in settlement
Guy Hands, founder of Terra Firma Capital Partners, arrives at the High Court in London, on June 9.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Guy Hands failed in a second attempt to force Citigroup Inc. to pay billions over his disastrous purchase of the EMI Group Ltd., dropping his London lawsuit after lawyers accused him of making baseless allegations.
Hands abandoned the case following three bruising days in the witness stand. The agreement, which requires Hands’ Terra Firma Capital Partners to pay Citigroup’s legal fees, was disclosed at a hearing Friday.