Court of Appeal in London rules in favor of Fnac Darty in proceedings relating to the disposal of Comet
09 Octobre 2023 - 6:21PM
Court of Appeal in London rules in favor of Fnac Darty in
proceedings relating to the disposal of Comet
Ivry-sur-Seine, France, October 9, 2023
Court of Appeal in London rules in favor
of Fnac Darty in proceedings relating to the disposal of
Comet
In a judgment published today, the Court of
Appeal in London unanimously allowed an appeal by Darty Holdings
SAS (Darty), a subsidiary of the Fnac Darty group, in the context
of litigation relating to the disposal of Comet Group Limited in
2012.
Now that the Court of Appeal has overturned the
High Court’s first instance decision, the Group should be entitled
to repayment of all sums paid by Darty before the end of the year,
as well as the reimbursement of interest and legal costs incurred,
representing a positive cash impact estimated at around €130
million.
In November 2022, the High Court in London
issued a first instance judgment in favour of Comet's liquidator.
The Fnac Darty group was forced to pay £112 million1 in December
2022, but strongly contested the merits and appealed the
decision.
CONTACTS
ANALYSTS / INVESTORS |
Domitille Vielle |
domitille.vielle@fnacdarty.com+33 (0)6 03 86 05 02 |
Laura Parisot |
laura.parisot@fnacdarty.com+33 (0)6 64 74 27 18 |
|
|
|
PRESS |
Audrey Bouchard |
audrey.bouchard@fnacdarty.com+33 (0)6 17 25 03 77 |
1 including £89.6 million paid as per the first judgment, £22.3
million in interest and legal costs, and €2.6 million in legal
costs incurred in connection with this litigation, for a total of
€132 million as of December 31st, 2022.
- Fnac_Darty_PR_COMET_vENG_final_2
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