Guy Hands’s private equity firm Terra Firma is making new allegations against Citigroup as it seeks at least £2.24 billion in damages over the buyout firm’s investment in music business EMI Group, the home of The Beatles.

In court filings seen by Financial News, funds managed by Terra Firma allege Citigroup, acting as EMI's adviser and lender in the 2007 deal, failed to disclose all its information about EMI's finances.