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| IMF chief Lagarde to stand negligence trial in France | |
| (35 minutes later) | |
| IMF chief Christine Lagarde is to stand trial in France for alleged negligence over a €404m ($438m; £294m); payment to a businessman in 2008. | |
| She was finance minister in President Nicolas Sarkozy's government at the time of the compensation award to Bernard Tapie for the sale of a firm. | She was finance minister in President Nicolas Sarkozy's government at the time of the compensation award to Bernard Tapie for the sale of a firm. |
| Mr Tapie supported Mr Sarkozy in the 2007 presidential election. | Mr Tapie supported Mr Sarkozy in the 2007 presidential election. |
| Ms Lagarde's lawyer described the court's decision as "incomprehensible", and said the IMF boss would appeal. | Ms Lagarde's lawyer described the court's decision as "incomprehensible", and said the IMF boss would appeal. |
| In a statement she said she had "always acted in this affair in the interest of the state and in respect of the law", according to AP. | |
| Mr Tapie was once a majority shareholder in sports goods company Adidas but sold it in 1993 in order to become a cabinet minister in Francois Mitterrand's Socialist government. | Mr Tapie was once a majority shareholder in sports goods company Adidas but sold it in 1993 in order to become a cabinet minister in Francois Mitterrand's Socialist government. |
| He sued the Credit Lyonnais bank over its handling of the sale, alleging that the partly state-owned bank had defrauded him by deliberately undervaluing the company. | He sued the Credit Lyonnais bank over its handling of the sale, alleging that the partly state-owned bank had defrauded him by deliberately undervaluing the company. |
| His case was later referred by Ms Lagarde to a three-member arbitration panel which awarded the compensation, causing a public outcry. | |
| Investigators suspect he was granted a deal in return for his support of Mr Sarkozy. | |
| Earlier this month, a French court ruled that Mr Tapie was not entitled to any compensation for that sale and should pay back the €404m with interest. | |
| Five-day deadline | Five-day deadline |
| France's Court of Justice of the Republic (CJR) decided that Ms Lagarde, 59, should be tried on the charge of "negligence by a person in position of public authority" over the compensation case, iTele TV channel and the Mediapart website reported on Thursday. | |
| A court spokesman later confirmed the decision. | A court spokesman later confirmed the decision. |
| French media said the CJR investigation magistrates declined to follow the recommendation of another court which last year decided not to pursue the case. | French media said the CJR investigation magistrates declined to follow the recommendation of another court which last year decided not to pursue the case. |
| "It's incomprehensible," Ms Lagarde's lawyer Yves Repiquet told iTele. "I will recommend Mrs Lagarde appeal against this decision." | "It's incomprehensible," Ms Lagarde's lawyer Yves Repiquet told iTele. "I will recommend Mrs Lagarde appeal against this decision." |
| A spokesman for France's attorney general said Ms Lagarde would have five days to appeal, once the court decision is made public on Friday or Monday. | A spokesman for France's attorney general said Ms Lagarde would have five days to appeal, once the court decision is made public on Friday or Monday. |
| Meanwhile, IMF spokesman Gerry Rice said the organisation - which represents 188 member nations - "continues to express its confidence in the managing director's ability to effectively carry out her duties". | |
| Bernarde Tapie: A French saga | |
| 1993: Credit Lyonnais bank handles sale of Adidas, in which Bernard Tapie is a majority stakeholder, to enable tycoon to pursue ministerial career under then Socialist President Francois Mitterrand | |
| 1993-2007: Mr Tapie claims Credit Lyonnais undervalued Adidas and that he was cheated; lengthy court battle ensues | |
| 1994: Bernard Tapie's highly indebted group collapses and is wound up by Credit Lyonnais | |
| 2007: Mr Tapie switches support to conservative Nicolas Sarkozy in presidential election. Finance Minister Christine Lagarde intervenes in Tapie case to order binding arbitration | |
| 2008: Special judicial panel rules Mr Tapie should receive damages of €404m; Ms Lagarde decides not to challenge ruling, prompting public outcry | |
| 2011: Public prosecutor recommends judicial investigation into Ms Lagarde's decision to order arbitration | |
| 2013: Ms Lagarde is questioned by magistrate and her Paris apartment searched. Mr Tapie is placed under investigation by prosecutors investigating corruption claims | |
| 2014: French prosecutors open formal investigation of negligence into Ms Lagarde | |
| 3 December 2015: A court orders Mr Tapie to pay back €404m with interest | |
| Ms Lagarde replaced Dominique Strauss-Kahn as IMF managing director in 2011. | |
| Mr Strauss-Kahn - also a former French minister - resigned following his arrest in New York on charges of sexual assault that were later dropped. | Mr Strauss-Kahn - also a former French minister - resigned following his arrest in New York on charges of sexual assault that were later dropped. |