×
319
Fashion Jobs
MAHLE
Asst. Manager- Production
Permanent · Greater Noida
POLYCAB
Area Sales Manager - Switches & Switchgear - Ahmedabad
Permanent · Ahmedabad
MEDCIS PATHLABS INDIA PVT LTD
Medcis Path Labs is Hiring For Pathology Area Sales Manager-Chennai
Permanent · Chennai
TIME TECHNOPLAST
Area Sales Manager
Permanent · Andheri
LIFE TURN MANAGEMENT CONSULTANT
sr. Manager Production - Sricity, Tada - Mnc Company - Engineering Ind
Permanent · Tada
MCKENZIE
Hiring For Retail Store Merchandiser / Manager
Permanent · Chennai
V2B GLOBAL CONSULTANTS
sr Technician Apparel -Buying Office
Permanent · Gurugram
MANPOWERGROUP SERVICES INDIA
Opening || Horeca Sales Manager || Kolkata
Permanent · Kolkata
ADIDAS
Senior Product Owner - Machine Learning & ai
Permanent · GURUGRAM
ADIDAS
Senior Technology Consultant - Omnichannel
Permanent · GURUGRAM
PUMA
Manager- Warehouse (B2C)
Permanent · Bengaluru
HARMAN FINOCHEM
sr. Manager- Api Production For Srp With Leading Pharma @ Aubad
Permanent · Aurangabad
PNB HOUSING
Area Sales Manager
Permanent · Thane
PNB HOUSING
Area Sales Manager
Permanent · Pune
JM FINANCIAL HOME LOANS LTD
Area Sales Manager - Home Loans
Permanent · Chennai
DANIEL WELLINGTON
IT Support Specialist
Permanent · MUMBAI
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Karaikal
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Thiruvarur
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Tirunelveli
AVANTOR
Area Sales Manager- Lab Consumables
Permanent · Pune
ADIDAS
Manager Brand Activation Originals
Permanent · GURUGRAM
ZACH LIFESTYLE PVT. LTD.
Manager - Content & Social Media
Permanent · MUMBAI
By
Reuters
Published
Dec 4, 2015
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Paris court rules against Tapie in high-stakes Adidas case

By
Reuters
Published
Dec 4, 2015

A French court dismissed tycoon Bernard Tapie's demand for more than a billion euros from the state over a disputed business deal on Thursday, ruling instead that he had to repay more than 400 million euros.

In the last chapter of a 20-year-old legal feud, a Paris appeals court said the 72-year-old had not been duped by his state bankers when he sold the Adidas sportswear firm in 1992 and thus was not entitled to compensation.

Bernard Tapie - AFP


On top of rejecting Tapie's demand for up to 1.2 billion euros ($1.30 billion), the court ordered him and his wife to repay 404 million euros he had received under a previous settlement that has since been struck down, a court statement said.

Tapie's lawyer, Emmanuel Gaillard, said all legal options would be studied to counter a ruling he described as a "denial of justice". French Finance Minister Michel Sapin welcomed the verdict.

The saga centred on claims by Tapie that he was hoodwinked by state-owned Credit Lyonnais bank, now defunct, into selling Adidas for far less than the amounts it subsequently fetched when resold and then floated on the stock market.

As the liabilities of the former Credit Lyonnais were parked in a state structure called the CDR, the case effectively became a battle between taxpayers and Tapie, who has been a football and media magnate as well as minister, actor and talk-show host.

Legal experts said it was possible Tapie could launch one last appeal in the country's highest court, but that such an appeal would not allow him to avoid having to honour the repayment ruling issued on Thursday.

A significant part of the sum could be raised by the sale of some of Tapie's assets, including a luxury Paris property and one in Saint-Tropez on the French Riviera that have already been legally seized.

$1 = 0.9258 euros

 

© Thomson Reuters 2023 All rights reserved.