adidas originals tracksuit top Know why the IMF chief was found guilty
New Delhi/Paris: A French court has found IMF head Christine Lagarde guilty of negligence over a massive state payout to a tycoon when she was French finance minister but spared her a fine or prison sentence.
Here is a brief timeline of the trail process
Tapie had sold Adidas to Credit Lyonnais for the equivalent of 315.5 million euros in 1993. The bank sold it on the following year for 701 million euros,
prompting claims from Tapie that he had been cheated.
French judges found the IMF Chief guilty of negligence for failing to challenge a 400 million euro ($417 million) state arbitration payout to a business tycoon in 2008 when she was French finance minister.
Lagarde was tried over her decision to allow the long running dispute over Tapies sale of Adidas to be resolved by a private arbitration panel instead of by the courts.