PARIS –
The French businessman and ex-politician Bernard Tapie should be 404 million refund that he previously as compensation from the French state. That, the Court of Cassation in Paris determined, according to French media Thursday.
Tapie received the payment in 2008 because of the loss or damage he may have suffered by the fraudulent practices of the nationalized bank Crédit Lyonnais (CL) on the sale of his share in the firm Adidas in the early 90s.
The French state went to court because a government-established arbitration the business dispute is punched out card was. The arbitration was set by the then minister of Finance, Christine Lagarde, now the boss of the IMF.