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News & Announcements

9 April 2024

Pallas Representing a Group of Investors Seeking $1.5 Billion Judgment

Our New York team including partners Duane Loft, Josh Naftalis, counsel Anastasia Cembrovska and Melissa Kelley and associates Mark Davies and Jingxi Zhai are co-representing a group of investors seeking to enforce a $1.5 billion judgment stemming from a 2005 private equity acquisition of Greece-based Tim Hellas Telecommunications SA that it claims ultimately enriched PE firms TPG Inc. and Apax Partners LLP to the detriment of other investors.

The Investor Group has asked a New York state court to enforce its October judgment requiring Hellas Cos. entity Hellas Telecommunications II SCA to pay the $1.5 billion approx. penalty. The judgment equals the amount owed to investors through subordinated notes issued in December 2006 that were due in January 2015, according to the petition.

Read Law360’s article here.

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