Fnac Darty: stock up on favourable Comet ruling
(CercleFinance.com) - The Fnac Darty group (cp: +5%) reports that in a judgment published yesterday, the London Court of Appeal unanimously rejected the arguments against Darty Holdings SAS (a subsidiary of the Fnac Darty group), in the litigation relating to the disposal of Comet Group Limited in 2012.
As the London High Court's decision has been overturned, by the end of the year the group should receive the full amount initially paid, as well as the reimbursement of legal costs and interest, i.e. about E130m.
As a reminder, in November 2022, the London High Court ruled in favor of Comet's liquidator.
Fnac Darty was ordered to pay £112m in December 2022, in favour of Comet's liquidator: it contested the merits of the case and appealed against the decision.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
As the London High Court's decision has been overturned, by the end of the year the group should receive the full amount initially paid, as well as the reimbursement of legal costs and interest, i.e. about E130m.
As a reminder, in November 2022, the London High Court ruled in favor of Comet's liquidator.
Fnac Darty was ordered to pay £112m in December 2022, in favour of Comet's liquidator: it contested the merits of the case and appealed against the decision.
Copyright (c) 2023 CercleFinance.com. All rights reserved.