IMF' Lagarde to stand trial over 400 million euro state payout

France’s highest appeals court has ruled that Christine Lagarde, the head of the International Monetary Fund, must stand trial for her role in a 400 million euro state payout to Bernard Tapie, a French businessman.

It overturned the decision of a lower court.

She is accused of negligence by improperly approving an out-of-court arbitration between Tapie and the state. The arbitration judges ruled in Tapie’s favour. He is a supporter of conservative former president Nicolas Sarkozy.

A separate process is under way to try to force the businessman to reimburse the money. He has appealed against a court order that he pay it back.

He sued for compensation after selling his stake in the sports company Adidas to the state controlled Credit Lyonnais bank in 1993 which then sold it on at a profit.

A lawyer for Lagarde, who was French finance minister at the time of the payout in 2008, expressed regret over the court ruling but said the trial would establish she had done nothing wrong.

The IMF has indicated its continued support of Lagarde during the legal process. Despite the case looming over her, Lagarde was appointed in January for a second five-year term as managing director of the International Monetary Fund.
High flyer

Lagarde has had a high-flying career, first as a top corporate lawyer in the United States, then as a cabinet minister and most recently as managing director at the IMF.

At the Fund, she has won praise for persuading the US Congress to approve a landmark reform programme that shifted more voting power to China and other key emerging market countries and has generally been considered a skilful negotiator.

As France’s finance minister from 2007 to 2011 Lagarde played a key role in Europe’s response to the global financial crisis.

She joined the international law firm Baker & McKenzie in Paris aged 25 after completing a master’s degree in English and labour law, and quickly rose to the top of the Chicago-based firm before entering politics.

Born in Paris and raised in the northern port city of Le Havre, Lagarde is a vocal proponent of women as senior executives, once saying dryly that if Lehman Brothers had been Lehman Sisters, it might have survived.

-- (c) Copyright Euronews 2016-07-23

How can she run the IMF , or do all bankers need to be criminals.

How can she run the IMF , or do all bankers need to be criminals.

Never underestimate the lengths that Politicians will undertake to boost their own bank balance.

This has dragged on too long. Time she was introduced to a concrete box with bars for windows.

was this a salon bill - she does have nice hair

Can someone help but wasn't she given the IMF post with questions marks hanging over her ?

These arrogant types are all suspect. Can't wait to see her being humbled.

"As France’s finance minister from 2007 to 2011 Lagarde played a key role in Europe’s response to the global financial crisis."

all the so called experts of the world in finance but only an elite few saw the doom of 2008

and apparently, the strange & dangerous investing techniques are once in play

nobody went to jail for causing millions of people to lose everything

and still they managed to get big bonuses for destroying the economy

Seems she didn't benefit much from her "negligence" and she'll probably pay a very high price (http://www.celebritynetworth.com/richest-businessmen/lawyers/christine-lagarde-net-worth/).

Whereas, Thai politicians and other senior officials seem to be much better off when it comes to managing Public money (http://englishnews.thaipbs.or.th/finance-minister-apisak-the-richest-minister-in-gen-prayuts-cabinet/).

How can she run the IMF , or do all bankers need to be criminals.

Newsflash!! They all are. They are marching side by side through the justice system stealing big time from taxpayers and paying miniscule fines.

Edited July 23, 20169 yr by elgordo38

She's smooth and slippery…let's see how she fares this time.

Edited July 23, 20169 yr by JHolmesJr

The bitter comments on this thread really shown what a sad bunch you lot are. She is a brilliant woman and you losers are not worthy of cleaning her shoes. By the way did I read anywhere she had been convicted or sentenced? No so until then shhhhhhh

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I trust all her and families bank accounts will be investigated. And same

applies to Tapie's. Net worth statements before and after Tapie incident too.

And how does she always have a tan?

She reminds me of Dimon from JPM. Right "friends" in right places and they could commit murder and

never see the inside of a jail. Great system.

The bitter comments on this thread really shown what a sad bunch you lot are. She is a brilliant woman and you losers are not worthy of cleaning her shoes. By the way did I read anywhere she had been convicted or sentenced? No so until then shhhhhhh

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You must be a banker. No it's not a typo or rhyming slang.

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She is as crooked as the rest of them, end of story.

The bitter comments on this thread really shown what a sad bunch you lot are. She is a brilliant woman and you losers are not worthy of cleaning her shoes. By the way did I read anywhere she had been convicted or sentenced? No so until then shhhhhhh

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Regardless of her abilities in this and previous employment, judgment of which is always subjective, are you suggesting she is above the law?

She made a decision, which the legal system of France believes to be questionable and has decided she must stand trial for that decision.

She is an accused person and not guilty of anything unless convicted. Perhaps she has a good explanation. We shall see.