PARIS (Reuters) – The tribunal of the Paris Council on Tuesday condemned the General Corporation to pay more than 450,000 euros to his former broker Jerome Kerviel, dismissed by him “without real cause or serious,” he -t was learned from the institution.
the bank immediately announced that it would appeal the decision “scandalous”.
the employment tribunal justice ruled that the facts justifying his removal – taking unhedged positions that led to a record loss of 4.9 billion euros in 2008 – were prescribed at the time of dismissal in February 2008
Code. Labour provides that a company has a two-month period to sanction facts from the moment it becomes aware.
“the industrial tribunal said that the positions of Jerome Kerviel were known as early as 2007, which shattered the fable that was served by the General Society from the beginning “, welcomed David Koubbi, representing the former trader. “It revives justice,” he said.
On Twitter, Jerome Kerviel congratulated his lawyers. “The fight goes on and on forever,” he wrote.
The former trader was sentenced to five years in prison, three firm for breach of trust, computer manipulation, forgery and use of wrong, has always said that Société Générale could not ignore that he was taking unhedged positions.
But the bank, condemned in 2008 by the banking commission fined 4 million euros for failure control, has always denied demonstrated culpable negligence.
tHE COMPANY GENERAL CALLS
“This decision (Labour Court) is scandalous and flies in the face of right, “said the lawyer of the General Society, Mr. Arnaud Chaulet. “This is why we will appeal.”
The sentence of Jerome Kerviel was confirmed in March 2014 by the Court of Cassation, and therefore has the authority of res judicata, he reminds.
The bank is particularly ordered to pay him 300,000 euros for his 2007 bonus, and 100,000 euros in compensation for dismissal without cause or real serious.
the decision comes a week of recovery before the Appeals court of Versailles (Yvelines), the civil trial of Jerome Kerviel. The judges will have at that time reconsider the financial loss of Societe Generale and the amount of damages attributable to it.
In March 2014, the Supreme Court has upheld his conviction but broken the civil provisions requiring it to pay 4.9 billion euros in damages. A stop then greeted by his lawyer, according to which it marked the end of a “Kerviel affair,” and the beginning of a “case Societe Generale”.
The bank has just gone through a difficult period terms of its image, the scandal of “Panama papers” that highlighted his ties with the Panamanian firm Mossack Fonseca, specializing in installation of offshore companies in tax havens.
the title has hardly reacted trades on the industrial tribunal decision, and reduced slightly its gains to 2% at 36.07 euros against an increase of 2.2% in mid-session. Although “surprising”, this decision will not risk hitting the image of the bank deems a Paris-based analyst. “It’s a 2008 story, the market has already priced in, it’s been eight years,” he said.
(China Labbé and Sophie Louet, with Julien Ponthus and Raphael Bloch, edited by Yves Clarisse )
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