IMF head Lagarde to appear in court over French tycoon payout

France’s appeals court on Friday confirmed that the head of the International Monetary Fund, Christine Lagarde, is due to appear in court in order to face charges of alleged negligence over a state payout to a French business tycoon.

As minister of the economy in 2007, Lagarde allowed a payout of 404 million euros ($445 million at today’s value) to prominent French businessman Bernad Tapie after he alleged he had been defrauded during the sale of his company, Adidas, in 1994 undertaken by the French bank Credit Lyonnais.

Judges in France’s Court of Justice, which tries cases involving top government officials, have decided that the then minister of the economy had given instructions that overrode normal judicial processes.

Lagarde has always denied wrongdoing in the case, saying she’d acted properly in France’s interests.

The IMF said its executive board support Lagarde, adding she would continue in her role throughout the court hearings.