Tapie Affair

In 1993 in order to become a cabinet minister under the Socialist Mr Mitterand Mr Tapie a French businessman sold his majority stake in Adidas. Mr Tapie subsequently sued the French bank Credit Lyonnais which bought the stake, accusing the bank of defrauding him by undervaluing the company. In 2007 the former socialist minister backed centre right candidate Nicholas Sarkozy for president. A few months later Mr Sarkozy's new Finance Minister, Christine Lagarde, intervened in the judicial case and ordered that the dispute should go to binding arbitration. In 2008 the arbitration panel of judges ruled that Mr Tapie should receive damages of €285m (€404m after interest added). A French appeal court has now ruled that Mr Tapie should pay back the compensation

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The head of the International Monetary Fund, Christine Lagarde, will stand trial over a state payout to the French tycoon Bernard Tapie, an appeals court has...
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France: Former minister of economy Christine Lagarde is accused of negligence. Lagarde is suspected to enable a compensatory payment of around EUR 400 million...
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French investigators have been looking into whether businessman Bernard Tapie was offered a deal in return for supporting the Nicholas Sarkozy
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The head of the IMF is to go on trial in France for failing to prevent €400m fraud when she was French finance minister in 2008
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