TPG Looks to End Billion-Dollar Saga Over Busted Greek Telecom

TPG Inc. appeared to gain the upper hand Tuesday against distressed-debt investors that have spent 15 years seeking more than $1 billion on claims the private equity firm teamed up with Apax Partners LLP to bleed a Greek telecom dry.

New York’s top tribunal, known as the Court of Appeals, is weighing a bid to hold TPG accountable for the collapse of Tim Hellas Telecommunications SA after the Greek company’s Luxembourg-based parent defaulted on loans used to fund a greater than $1 billion dividend for the buyout firms. Hellas bondholders that sued through Wilmington Trust Co. are trying to put ...