JANUARY TRIAL IN THE LITIGATION BETWEEN TIFFANY AND LVMH
NEW YORK (Reuters) – Delaware justice on Monday accepted Tiffany’s request for an urgent ruling in the legal battle between her and LVMH, which the American jeweler accuses of wanting to withdraw from the proposed $ 16 billion takeover .
The “Chancery Court”, however, specified that it would provide for four days of trial from January 5, after the deadline of November 24 which was set to complete the marriage between the French luxury giant and the American jeweler.
On the other hand, the authorizations obtained so far from the various competition authorities concerned will still be valid on this date of January 5.
Joseph Slights, the vice-chancellor of the court specializing in disputes between companies, said he hoped that Tiffany and LVMH could have “productive discussions likely to avoid recourse to litigation.”
Tiffany was hoping the trial would take place before the November 24 date. LVMH was pleading for a trial in March or April of next year.
(Jessica DiNapoli with Tom Hals in Delaware; French version Henri-Pierre André)