{"id":59278,"date":"2024-02-12T18:01:05","date_gmt":"2024-02-12T18:01:05","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/final-closure-of-comet-disposal-litigation-in-favor-of-fnac-darty\/"},"modified":"2024-02-12T18:01:05","modified_gmt":"2024-02-12T18:01:05","slug":"final-closure-of-comet-disposal-litigation-in-favor-of-fnac-darty","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/final-closure-of-comet-disposal-litigation-in-favor-of-fnac-darty\/","title":{"rendered":"Final closure of Comet disposal litigation in favor of Fnac Darty"},"content":{"rendered":"
\n

Ivry-sur-Seine, France, February 12, 2024<\/p>\n

Final closure of Comet disposal litigation <\/strong>in favor of Fnac Darty<\/strong><\/p>\n

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.<\/p>\n

This decision definitively closes the litigation linked to the disposal of Comet Group Limited in 2012.<\/p>\n

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 \u20ac40 million within the next 45 business days.<\/p>\n

End-2023, the High Court in London decision in the first instance having been overturned, the Group had received around \u20ac100 million.<\/p>\n

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 \u00a3112 million1<\/sup> in December 2022, but strongly contested the merits and appealed the decision.<\/p>\n

CONTACTS<\/strong><\/p>\n

ANALYSTS \/ INVESTORS<\/strong>
Domitille Vielle \u2013 Head of Investor relations\u2013 domitille.vielle@fnacdarty.com<\/a> \u2013 +33 (0)6 03 86 05 02
Laura Parisot \u2013 Investor relations \u2013 laura.parisot@fnacdarty.com<\/a> \u2013 +33 (0)6 64 74 27 18<\/p>\n

PRESSE<\/strong>
Audrey Bouchard \u2013 Head of Media Relations and Reputation \u2013 audrey.bouchard@fnacdarty.com<\/a> \u2013 +33 (0)6 17 25 03 77<\/p>\n\n

1 including \u00a389.6 million paid as per the first judgment, \u00a322.3 million in interest and legal costs, and \u20ac2.6 million in legal costs incurred in connection with this litigation, for a total of \u20ac132 million as of December 31st<\/sup>, 2022.<\/p>\n