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UNITED STATES DISTRICT COURTSOUTHERN DISTRICT OF NEW YORK-------------------------------------------------------------------TERRA FIRMA INVESTMENTS (GP) 2 LIMITED,and TERRA FIRMA INVESTMENTS (GP) 3LIMITED,Plaintiffs,-against-CITIGROUP INC., CITIBANK, N.A., CITIGROUPGLOBAL MARKETS LIMITED and CITIGROUPGLOBAL MARKETS INC.,Defendants.-------------------------------------------------------------------X:::::::::::XCase No. 09 CIV 10459(JSR) (AJP)ECF Case
MEMORANDUM OF LAW IN SUPPORT OF
DEFENDANTS’ MOTION TO DISMISSTHE COMPLAINT UNDER FED. R. CIV. P. 12(b)(3) PURSUANT TO MANDATORYFORUM SELECTION CLAUSES AND FOR
FORUM NON CONVENIENS
PAUL, WEISS, RIFKIND,WHARTON & GARRISON LLPBrad S. Karp, Esq.Theodore V. Wells, Jr., Esq.Jay Cohen, Esq.John F. Baughman, Esq.1285 Avenue of the AmericasNew York, New York 10019-6064(212) 373-3000
Attorneys for Defendants Citigroup Inc., Citibank, N.A., Citigroup Global Markets Limited, and Citigroup Global Markets Inc.
Case 1:09-cv-10459-JSR Document 13 Filed 01/21/2010 Page 1 of 31
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Table of ContentsPage
Table of Authorities...................................................................................................................iiiPreliminary Statement.................................................................................................................1 Statement of Facts.......................................................................................................................4 A. Terra Firma Makes an Offer To Purchase EMI................................................................4 B. CGML and Citibank, N.A., London Branch, Finance Terra Firma’s Purchase of EMI.................................................................................................................................6 C. England Is the Location of Virtually All Relevant Events................................................7 D. The Forum Selection Clauses Provide for Exclusive Jurisdiction in the Courts of England and for the Application of English Law..............................................................8 Argument....................................................................................................................................9 I. THIS ACTION SHOULD BE DISMISSED PURSUANT TO THE FORUMSELECTION CLAUSES GOVERNING TERRA FIRMA’S CLAIMS...............................10 A. Terra Firma’s Claims Relating to Alleged Misrepresentations Made During theAuction Must Be Litigated in England...........................................................................12 B. Terra Firma’s Claim Regarding Citi’s Performance Under the FinanceAgreements Must Also Be Litigated in England............................................................14 II. THIS ACTION SHOULD BE DISMISSED ON THE GROUND OF
FORUM NON CONVENIENS
....................................................................................................................17 A. Terra Firma’s Choice of Forum Is Entitled to Little or No Deference.............................19 B. The Courts of England Are an Available and Adequate Alternate Forum.......................20 C. The Balance of Public and Private Interests Weighs in Favor of Litigation inEngland.........................................................................................................................21
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ii1. The Public Interest Factors Favor Litigation in England............................................21 2. The Private Interest Factors Favor Litigation in England...........................................23 Conclusion................................................................................................................................25
Case 1:09-cv-10459-JSR Document 13 Filed 01/21/2010 Page 3 of 31
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