Hellas Liquidators File $1.3B Suit Against TPG, Apax

Law360, New York (March 13, 2014, 7:28 PM EDT) -- Joint compulsory liquidators for the U.K. bankruptcy proceeding for Hellas Telecommunications (Luxembourg) II SCA filed a lawsuit in New York bankruptcy court Thursday alleging private equity giants TPG Capital Management LP and Apax Partners LLP purchased and then unlawfully milked the company for $1.3 billion, leaving it straddled with debt.

Liquidators Andrew Hosking and Simon Bonney filed the lawsuit on behalf of two bankrupt Greek businesses alleging TPG and Apax carried out a leveraged acquisition of the companies, forced them to borrow over €1 billion ($1.39...
To view the full article, register now.




Case Information

Case Title

Case Number



New York Southern

Nature of Suit

Date Filed

February 16, 2012

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.