Affaire Kerviel : the Company general deemed at fault – The World

It has the air of nothing, but after eight years of proceedings, two trial correctional, two criminal convictions, a cassation on civil interests, and a third trial only civil, it is the first time, Friday, September 23, that the justice makes a decision that is understandable to the public opinion in the case of Kerviel.

In thirty pages dry, the judgment of the court of appeal of Versailles condemns Jerome Kerviel to pay one million euros in damages and interest to the Société générale, on the 4.9 billion euros of losses incurred by the bank, replace each in its responsibilities : to the

former trader, the entire criminal offence as established in the tribunal correctionnel and the court of appeal of Paris ; the Société générale, the largest share of the civil responsibility, since the failures of its controls have contributed to the severity of the harm that she has suffered.

This new reading has been made possible thanks to the reversal of case-law made by the Court of cassation in its judgment Kerviel on 19 march 2014. While confirming the conviction of the former trader to five years imprisonment of which three farm for ” the abuse of trust, forgery, use of forged documents and introduction of data, fraudulent “, she had broken the civilian component, giving to the judges, for the first time in respect of damage to property, a discretionary power of sovereign on the responsibility of “causal” of the victim in the harm suffered.

“Choice is managerial”

Each paragraph of the judgment of Versailles is drafted in such a manner as to leave-taking…