Terra Firma and Citigroup face legal battle over EMI
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EMI is set to begin legal battle in New York Monday as owner Terra Firma and investment bank Citigroup face a legal battle.
Citi is accused of tricking private equity group Terra Firma into overspending record label EMI for £4.2bn in 2007, which they denied. Unless a last minute deal is reached, it will be disputed in the New York courts. EMI has recently agreed to pay off the £197m deficit in their pension scheme which will last until April 2016.
Source: http://www.bbc.co.uk/news/business-11564683
Citi is accused of tricking private equity group Terra Firma into overspending record label EMI for £4.2bn in 2007, which they denied. Unless a last minute deal is reached, it will be disputed in the New York courts. EMI has recently agreed to pay off the £197m deficit in their pension scheme which will last until April 2016.
Source: http://www.bbc.co.uk/news/business-11564683
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- tags:
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