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Monday, November 30, 2009


The Ajman sheikh who offered to buy the label for 100 million euros did not submit paperwork on time.

Paris - Last month it was reported that the Paris Commerce Court postponed the decision on the future of couture label Christian Lacroix to Dec. 1. The Ajman sheikh, who offered 100 million euros in October to rescue the house from bankruptcy," could not show the documentation certifying the funds needed for the acquisition were available" before the tribunal. Now the latest news on the Lacroix saga is that the sheikh failed to submit the paperworks to the Paris court on the due date, which was on last Thursday (Nov. 26). Tomorrow (Dec. 1) the court plans to rule on how to move forward, which means they could implement the restructuring plan submitted by the Falic family, Lacroix's current owners. [Story/Image: The Cut]

Kristina Bustos

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