Citigroup struck back at private equity firm Terra Firma Capital Partners founder Guy Hands in court on June 9, saying his testimony about the disastrous purchase of music company EMI Group was “hazy” and “confused”.

Terra Firma is claiming at least £1.5 billion ($2.2 billion) in damages for fraudulent misrepresentation from investment bank Citi over Terra Firma's 2007 takeover of EMI, home to artists from The Beatles to The Beastie Boys. Terra Firma lost its entire £1.75 billion investment in EMI when it was taken over by lender Citi in 2011 following financial difficulties.