Tapie wins a long court battle for Adidas money

The wheels of justice move slowly, but when it involves a major name like Adidas and a French political/sports/business celebrity it moves even slower. Thirteen years to be exact.

Bernard Tapie bought Adidas many years ago with two loans from banks. But he had problems with the payments and the banks supposedly found a buyer for him, but in reality the bank bought back the company and resold for double the price they offered Tapie. He sued for unfair dealings, and the case moved up and down through the French judicial system until it was settled yesterday with a judgement against the banks. A judgement of over 230 million euros.

Unfortunately, after debts and legal fees, he stands to gain only 30 million euros. C’est la vie.

]]>

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.