PARIS (Reuters) – The retailer of cultural products, household appliances and electronics, Fnac Darty announced on Monday that the London Court of Appeal ruled in its favor in the context of a complaint from the liquidator of a former Darty subsidiary, Comet.
“The group should receive by the end of the year the entire amount initially paid as well as reimbursement of procedural costs incurred and interest, representing a positive impact on its cash flow estimated at around 130 million euros “, the group said in a statement.
In December 2022, the High Court of London issued a first judgment in favor of the liquidator of Comet. The Fnac Darty group was forced to pay 112 million pounds sterling (around 130 million euros).
Darty Holdings SAS sold Comet Group, a British distributor of electronic products, in 2012 as successor to Kesa International Limited (KIL).
The liquidator accused Comet of having repaid an intra-group debt to KIL in February 2012, before the acquisition of Darty by Fnac in 2016, when Comet was already in a state of suspension of payments.
(1 Pound sterling = 1.1576 euros)
(Writing by Nathan Vifflin, editing by Zhifan Liu)
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