Penny for the Guy

It’s Bonfire Night, and across the Atlantic the hopes of Britain’s very own Guy have just gone up in flames.

Terra Firma boss Hands yesterday lost his epic courtroom battle with Citigroup over the $6.3bn acquisition of EMI (see story). But we think the man really waving the sparklers is star lawyer for Citi, Ted Wells of Paul Weiss.

True, David Boies for Terra Firma is no slouch. But it was Wells who not only won the case but also offered a fascinating insight into the modern listening habits of hip young things. In case you missed it, Wells told the court, “people just don’t buy records like they did in the old days. Everything’s being downloaded”.

In other words, be it Black, Hound or Bonzo, Hands still bought a dog.

Closer to home the very fabric of Parliament once again looks to be in jeopardy. Today two High Court judges have just fired a barrel of gunpowder through the democratic process by ordering a re-run of the Oldham East and Saddleworth election, binning the seat held by former immigration minister Phil Woolas (see story).

In the first specially convened election court for 99 years, Woolas was found guilty of knowingly making false statements about Lib Dem rival Elwyn Watkins in his campaign.

So Woolas’ plot failed. It remains to be seen whether he will appeal. Sparklers all round.