Paris, 28 April 2020 – Moneta had sued Maurice Tchenio and Altamir Gérance in Commercial Court for mismanagement of Altamir.
In a decision rendered on 17 April 2020, the Court rejected all of Moneta's claims and considered them sufficiently excessive to require Moneta to pay €200,000 to Maurice Tchenio for harm to his reputation and €100,000 to Altamir as financial damages.
The Court's decision was as follows:
- Moneta's application as a claimant relative to double invoicing of fees from 8 July 2013 was held admissible.
- All of Moneta's claims were rejected.
- Moneta was ordered to pay damages as follows:
- €100,000 to Altamir,
- €200,000 to Mr Tchenio.
- The Court fined Moneta as follows, under Article 700 of the Code of Civil Procedure:
- €30,000 to Altamir,
- €15,000 to Altamir Gérance,
- €15,000 to Mr Tchenio.
- The other, broader claims of Altamir, Altamir Gérance and Mr Tchenio, and those contrary to the grounds of this decision were rejected.
- Provisional enforcement was ordered.
- Moneta was ordered to pay court fees, including those owing to the clerk, totalling €159.88, including VAT of €26.43.
The full text of the ruling is available on the Company's website: www.altamir.fr.
|NAV as of 31/03/2020||19 May 2020, post-trading|
|H1 2020 earnings and NAV as of 30/06/2020||8 September 2020, post-trading|
|NAV as of 30/09/2020||5 November 2020, post-trading|
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Altamir is a listed private equity company (Euronext Paris-B, ticker: LTA) founded in 1995 and with a NAV of more than €1bn. 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 via and with the funds managed or advised by Apax Partners France and Apax Partners LLP, two leading private equity firms that take majority or lead positions in buyouts 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 Apax's sectors of specialisation (TMT, Consumer, Healthcare, Services) and in complementary market segments (mid-sized companies in continental Europe and larger 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
Claire Peyssard Moses
Tel.: +33 1 53 65 01 74 / +33 6 34 32 38 97