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One-sided battle: Suing a bank can be a tough fight

Banks are some of the most important and profitable clients of major law firms, so they will do everything they can to keep them happy

Terra Firma is gearing up for a bruising legal battle with its former banker Citigroup. The case has involved high-profile litigants, juicy troves of documents, court appearances on both sides of the Atlantic and most importantly for the lawyers involved – giant legal fees.

All in all, it should be a trophy case for any law firm with a decent litigation practice. But in 2011, when Terra Firma, a private equity firm based in London, began to mention the case to solicitors who had done other work for it, a strange thing happened. None of the big firms it approached would touch the case, according to a person familiar with the matter.

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