Paris, 13 October 2023 - In its ruling of 11 October 2023, the Cour de Cassation (French supreme court) confirmed virtually all the arguments of the 16 September 2021 ruling of the Paris Court of Appeal, which had rejected all of Moneta's claims and ordered it to pay damages to Altamir, Altamir Gérance and Maurice Tchenio to compensate for the harm caused by its constant denigration of them.
Nevertheless, the Cour de Cassation invalidated part of the decision of the Court of Appeal on the grounds that the latter's judges had misinterpreted Moneta's written statements with regard to Altamir's invoicing of management fees, and it referred the case back to the Paris Court of Appeal on this point.
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About Altamir
Altamir is a listed private equity company (Euronext Paris-B, ticker: LTA) founded in 1995 and with a NAV of nearly €1.3bn. Its objective is to provide shareholders with long-term capital appreciation and regular dividends by investing in a diversified portfolio of private equity investments.
Altamir's investment policy is to invest principally via and with the funds managed or advised by Seven2 and Apax Partners, two leading private equity firms that take majority or lead positions in LBO and growth capital transactions and seek ambitious value creation objectives.
In this way, Altamir provides access to a diversified portfolio of fast-growing companies across 4 sectors of specialisation (Tech & Telco, Consumer, Healthcare, Services) and in complementary market segments (mid-sized companies in continental Europe and large companies in Europe, North America and key emerging markets).
Altamir derives certain tax benefits from its status as a SCR ("Société de Capital Risque"). As such, Altamir is exempt from corporate tax and the company's investors may benefit from tax exemptions, subject to specific holding-period and dividend-reinvestment conditions.
For more information: www.altamir.fr
Contact
Claire Peyssard Moses
Tel.: +33 6 34 32 38 97 /E-mail: claire.peyssard-moses@altamir.fr
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https://www.actusnews.com/documents_communiques/ACTUS-0-82336-cp-litige-moneta-cassation-en-def.pdf
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