The French singer Enrico Macias will have to pay 30 million euros to the liquidator of the bank Landsbanki Luxembourg, confirmed on Thursday the justice of luxembourg.
The interpreter is the Farewell, my country had been convicted in first instance in 2014 to repay this sum, a decision confirmed on appeal in 2017. “This morning there has been a rejection of the appeal before the court of cassation,” said to AFP Me Yvette Hamilius, liquidator of the icelandic bank Landsbanki Luxembourg. “This decision is a disaster for our client,” responded his side the luxembourg lawyer of the singer, Pierre Hurt, on the airwaves of radio luxembourg RTL.
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Enrico Macias, whose real name is Gaston Ghrenassia, was borrowed in 2007 in the amount of 35 million euros from Landsbanki Luxembourg. But the bank went bankrupt a year later, on the background of the financial crisis and the nationalisation of its parent company.
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A hundred of customers of the bank, including Enrico Macias, had filed a legal action in France for fraud. They were accusing the institution of having to mortgage their assets from a credit paid in part in cash, part in the form of financial investments. But in August 2017, the correctional court of Paris considered that”it is not clear from the record that the borrowers were victims of fraudulent practices.
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The appeal judgment is expected in Paris for the month of may. “If the appeal court decides to reform the judgment, it remains to be seen what impact this could have on the decision of luxembourg” has explained to Me Rosario Grasso, lawyer for the liquidator of luxembourg. Landsbanki Luxembourg has been placed in liquidation in 2008 and now tries to collect the receivables. Me Yvette Hamilius has already recovered € 2.2 billion on total liabilities of 2.5 billion euros.