Wind Hellas sub bondholders eye lawsuits - sources

* To challenge Wind Hellas establishment of British base

* Junior bondholders appoint Quinn Emanuel as legal adviser

* May challenge decision in U.S. courts

By Simon Meads and Alex Chambers

LONDON, Nov 10 (Reuters) - Junior bondholders are readying a lawsuit to challenge a restructuring deal for Greek mobile operator Wind Hellas that wipes out their investment, sources familiar with the process said.

Subordinated bondholders have appointed U.S. law firm Quinn Emanuel to contest last week's deal, which saw Wind Hellas's owner Weather Investments retain control of the group in return for a cash injection. [ID:nL5261225]

The official legal process could begin in either the UK or the U.S. in the next few days, the sources said.

The bondholders plan to attack Wind Hellas's move to establish a British base earlier this year, where courts may be more willing to wipe out junior lenders.