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Monday, October 18, 2010

Terra Firma-Citibank: The Trial

FULL COURT PRESS: The Terra Firma-Citibank trial over Guy Hands' $6.7 billion acquisition of EMI Music in 2007 gets underway in a New York courtroom today, with the future of the music group in the balance. How will a jury respond to Hands' accusation that the bank, and his longtime colleague David Wormsley, tricked him into upping his bid by misleading him that there was another bidder? Will the private equity mogul's desire to hold the trial in N.Y. instead of his native U.K. be a good one? Who'll be called as witnesses? Is there a possibility of an out-of-court settlement? Will the jury respond to Hands' pleas of being a victim, or be influenced by Citibank's role in the worldwide financial meltdown? What will be the strategy of Guy's world-class attorney David Boies? We'll cover all the action, beginning with our news story today here. (10/18a)

 
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