Citigroup vs. EMI Venue

CHANGE OF VENUE: A U.S. judge said he would rule by the end of March on whether or not to grant a request by Citigroup to move the Terra Firma lawsuit trial to London in a dispute over the buyout house's acquisition of EMI. Terra Firma has argued holding the hearing in Britain would threaten the status of U.K. tax exile Guy Hands. "I think the parties deserve to have a quick resolution but on the other hand this is not an obvious slam dunk decision," U.S. District Court Judge Jed Rakoff said after hearing oral arguments. Terra Firma lodged a claim in Manhattan federal court last year, accusing the bank of inflating the price of EMI by not revealing that the only remaining bidder had withdrawn from the auction. (3/8p)