Guy Hands may face a dilemma over his tax planning if Citigroup succeeds in moving its legal dispute with his buy-out group Terra Firma from New York to London. Hands sued Citi in New York late last year, alleging that Citi tricked him into buying music group EMI for £4bn in 2007. But Citi last month asked the US judge to send the case to London – a move that could present Hands with the prospect of losing his non-resident tax status in the UK if he appears in London as a key witness to support Terra Firma’s claims.

This entry was posted by Gwen Robinson on Wednesday, February 3rd, 2010 at 5:08 and is featured in The 6am Cut London (3 Feb 2010) . Tagged with citi, emi, guy hands, Terray Firma. Edit this entry.