Like a scene out of Pulp Fiction, the ailing record label has been brought back to life – albeit temporarily – by owners Terra Firma after they stumped up a last minute cash injection to bankers CitiGroup. Had Terra Firma not coughed up the cash, CitiGroup would have been able to foreclose on the label’s debts and start breaking it up and selling it off. Terra Firma’s purchase of the label in 2007 for £4 billion is one of the greatest follies of the decade. This money will get EMI’s bankers off its back for another year but watch this space for it defaulting in June 2011.