The appeal court has ordered Bernard Tapie, businessman and former minister to repay 405 million euros which he was awarded in 2008 in a private settlement with the state. In 1992 he became a government minister and sold his company Adidas (sportswear) to the state owned bank Credit Lyonnais for some 315 million euros. The bank re-sold the company 2 years later for 700 million. Tapie cried fraud and after many years of litigation was awarded the 405 millions. Earlier this year the courts decided that the private settlement was illegal and passed the case to the appeal court whose judgement was made yesterday.
Tapie, who has also had major involvement in Marseille football club and owned the local La Provence newspaper, claims that he personally never touched more than about 20 millions the rest being invested in the newspaper and various bank deposits (apart from 20 million given to his wife)
says he will be ruined (RUIN-E he stressed) and at 72 it just unfair. He vows to fight those who hate him - judges, journalists, the political establishment.... until justice is done.
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Tapie, who has also had major involvement in Marseille football club and owned the local La Provence newspaper, claims that he personally never touched more than about 20 millions the rest being invested in the newspaper and various bank deposits (apart from 20 million given to his wife)