Old probe may hurt Lagarde in IMF job bid | business | Hindustan Times
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Old probe may hurt Lagarde in IMF job bid

French judges may seek more time to decide on opening an inquiry into French finance minister Christine Lagarde's role in a 2008 arbitration payout, meaning allegations of misconduct could hang over her bid to head the IMF.

business Updated: Jun 08, 2011 22:39 IST

French judges may seek more time to decide on opening an inquiry into French finance minister Christine Lagarde's role in a 2008 arbitration payout, meaning allegations of misconduct could hang over her bid to head the IMF.

Three judges will meet on Friday to discuss whether the case brought against her by opposition deputies merits a formal probe, and a judicial source said they will likely seek extra time before deciding. Coincidentally, June 10 is also the deadline for candidates to register for the IMF managing director job.

Lagarde has denied any misconduct in her approval of a €285 million arbitration payment to Bernard Tapie, a friend of President Nicolas Sarkozy, to settle a long-running dispute between him and a state-owned bank. She has said the investigation will have no bearing on her IMF bid. She is in Beijing on Wednesday as part of a global tour to drum up support.