The years under the gaze of Messier Paris court
Uncategorized, economic, economics, people, special June 2nd, 2010The links between Jean-Marie Messier at Vivendi Universal have gone through good years followed by years of settling scores. They all lead to the court. The group is a civil action against its former CEO and famous. And the court record is a dive in the early 2000s when the euphoria of the communications group was preceded by days of crisis just as intense.
Jean-Marie Messier, went on along with six other defendants should stand trial for dissemination of false or misleading information, market manipulation and abuse of corporate assets. The record comes on Wednesday before the Criminal Court of Paris was born after a complaint, eight years ago, the association of small shareholders assets. The former CEO of Vivendi Universal will mainly meet its financial communication.The inquest has cruelly deciphered the discussions behind the scenes with the song unscrewing the stock market. It is for example the defendants alleged to have, on the fiscal year 2000, largely under-estimated the debt of the media division.
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At that time, Jean-Marie Messier, who had relied heavily on telecommunications, including SFR, saw its short-term ambitions ruined by the financial crisis and the attacks of September 11, 2001. To fill gaps, the group's management had ordered the takeover market of over one billion euros of Vivendi in order to artificially raise the title. The maneuver, which took place in autumn 2001 had also attracted the curiosity of the Commission des Operations de Bourse (COB today MFA).The financial analysis reports thus form the backbone of a judicial inquiry which has also been able to stop on items less austere, starting with the part of alleged abuse of social good to Jean-Marie Messier.
"J2M" had, following his departure in July 2002, received a driver, health coverage for five years and, according to justice, a sum of 18.6 million euros … The skipper featured n 'had not actually received the money, having given up after an arbitration proceeding in New York. But the magistrate Jean-Marie d'Huy, who decided against the advice of the prosecutor to refer the accused before the court, has severely criticized the gap between the sinking of the accounts of Vivendi Universal and conditions of departure its CEO.It was "manifestly excessive benefits in relation to the situation at this time of Vivendi Universal," the judge wrote in his order of dismissal.
During the investigation, the gap between the financial health of Vivendi Universal and benefits granted to its CEO has also held various volumes of the file. In his complaint, which triggered the whole affair, counsel for small shareholders, Frederik-Karel Canoy me, questioned the use by "J2M" and his family from a New York apartment paid by the group . His curiosity was also flying in helicopters and private planes paid by VU.
Jean-Marie Messier was cleared on this point. But, amid internal squabbles with former anti-terrorism judge who was then the officer in charge of security of Vivendi, Jean-Rene Fourtou successor "J2M" at the head of the group, which has a time been concerned .An investigation had been opened on weekends in private jet before being discontinued, after repayment of disputed amounts. The episode is closed for justice. He could resurface during the trial in Paris if the tone rises again between Jean-Marie Messier and his former group.
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