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Hands Not Tied...Yet

NOT THEIR DARKEST HOUR…YET: Despite Terra Firma chief Guy Hands’ lack of recall during last week’s grilling by dogged Citigroup lawyer Ted Wells, don’t be too quick to bury his chances in the current N.Y.C. trial. The final outcome will still come down to the nine-person jury, and there’s no telling who they’ll side with in this battle between a U.K. private equity mogul and a U.S. bank disgraced during the recent financial crisis.  Indeed, whichever side emerges victorious, the decision will most certainly be appealed, and even if Citigroup wins, Terra Firma has until March 2011 to pay its next loan covenant on EMI Music. So, this one’s a marathon, and Hands still has a chance to redeem himself, especially when his legal eagle David Boies takes on Citi’s David Wormsley, his old pal. (10/25p)

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