Christine Lagarde to stand trial over huge payout to businessman
INTERNATIONAL Monetary Fund (IMF) chief Christine Lagarde was ordered Friday to stand trial in France over a massive state payout to a colourful tycoon when she was French economy minister, in a setback to her stellar career.France’s highest appeals court dismissed Lagarde’s challenge against the decision to try her for negligence in her handling of a dispute between a state-owned bank and businessman Bernard Tapie.Tapie walked away with a staggering €404m in compensation in 2008 after Lagarde ordered the long-running row over the sale of sports gear giant Adidas to be resolved by arbitration.Friday’s ruling means the IMF chief will go before a special tribunal that hears cases against government ministers accused of wrongdoing in the discharge of their duties.The ruling is a blow to Lagarde, who has long been touted as a potential future French president.She insists she acted in France’s best interests in the case, and the IMF expressed firm backing for her as it was confirmed she ...
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