Final closure of Comet disposal litigation in favor of Fnac Darty
12 Février 2024 - 7:00PM
Final closure of Comet disposal litigation in favor of Fnac Darty
Ivry-sur-Seine, France, February 12, 2024
Final closure of Comet disposal
litigation in favor of Fnac Darty
In a judgment published today, the Supreme Court
in London has refused the application by the liquidator of Comet
Group Limited to challenge the judgment handed down by the Court of
Appeal in London in October 2023 in favour of Darty Holdings SAS, a
subsidiary of the Fnac Darty Group.
This decision definitively closes the litigation
linked to the disposal of Comet Group Limited in 2012.
Fnac Darty should receive the balance of the sum
initially paid in December 2022, as well as the reimbursement of
interest and legal costs incurred, representing a positive impact
on its cash position estimated at least at €40 million within the
next 45 business days.
End-2023, the High Court in London decision in
the first instance having been overturned, the Group had received
around €100 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 / INVESTORSDomitille
Vielle – Head of Investor relations– domitille.vielle@fnacdarty.com
– +33 (0)6 03 86 05 02Laura Parisot – Investor relations –
laura.parisot@fnacdarty.com – +33 (0)6 64 74 27 18
PRESSEAudrey Bouchard – Head of
Media Relations and Reputation – 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.
- 20240212_Fnac_Darty_PR_COMET_favorable_decision_v3
Fnac Darty (EU:FNAC)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Fnac Darty (EU:FNAC)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024