At the start of a civil trail between Terra Firma and Citigroup yesterday, Attorney David Boies said the bank had falsely claimed that there were other bidders for the record company and that Terra Firma needed to raise its bid despite there being no other offers for the business. Terra ended up paying $4.9bn (?3bn) for the company.

Boies added Citibank took advantage of its close relationship with its biggest customer -- Terra Firma -- to keep EMI as a ...