France challenges arbitration award in Tapie inquiry

State-controlled body takes action to annul €403m award to colourful businessman Bernard Tapie over his dispute with bank Credit Lyonnais.

Reading articles is for subscribers only. Subscribe now.

The French state legally challenged the 403 million euros ($524 million) arbitration award granted a French tycoon in 2008 after his dispute with now-defunct bank Credit Lyonnais, a lawyer in the case told Reuters on Friday, reports Reuters.