On July 9, 2014, the French Supreme Court (Cour de cassation) rejected the petition lodged by Carlo Tassara France against the ruling of the Paris Court of Appeals handed down on March 19, 2013.
Carlo Tassara France, a company controlled by Romain Zaleski, challenged certain transactions which took place in 1999, in the context of the privatization of French mining company Eramet. On the grounds of fraud, the claimant sought to annul the Duval family’s contribution of the Aubert & Duval company, through which they gained a majority stake in Eramet. The Duval family currently owns 37% of Eramet’s share capital, while Carlo Tassara France owns 12.8%.
In December 2011, the Paris Commercial Court rejected all of Carlo Tassara France’s claims and ordered the claimant to pay €750,000 in legal fees to the Eramet group and the Duval family. The Paris Court of Appeals confirmed this ruling in March 2013 and ordered the defeated claimant to pay an additional 130,000 euros in legal fees to the defendants.
Eramet was represented before the French courts by Davis Polk partner Georges Terrier and associate Louis-Marie Pillebout. All of the members of the Davis Polk team are based in the Paris office.