L’Oreal saga over family fortune continues

By Katie Bird

- Last updated on GMT

Related tags: Liliane bettencourt, Cosmetics, L'oréal

Daughter of L’Oreal heir Liliane Bettencourt has requested that her mother be placed under judicial supervision as she deems her incapable of controlling her finances.

This latest move is part of an ongoing saga between mother and daughter that has seen Francoise Bettencourt-Meyers claiming her mother was not in full mental health when she gave gifts worth approximately €1bn in value to artist and photographer Francois-Marie Banier.

L’Oreal heir Liliane Bettencourt is now 87 and her daughter claims she is launching the proceedings in an attempt to protect her mother from fraudsters.

Lawyer for Bettencourt-Meyers was quoted in news agency AFP as saying the process was solely to protect Bettencourt and had nothing to do with the L’Oreal business.

Bettencourt’s lawyer Georges Kiejman has referred to the move as 'indecent impatience' on the part of Bettencourt-Meyers to take what is not yet rightfully and totally hers.

Company will not be affected

Back in December 2008 Bettencourt, who holds a 30 percent stake in the cosmetics company, reassured employees and shareholders that the company would not be affected.

In a statement, quoted by AFP, Liliane Bettencourt sought to dispel fears that her health was faltering.

“Concerning recent reports in the press, Ms Liliane Bettencourt will make no comment. She does however wish to reassure her friends about her excellent state of health.”

The statement went on to say she was well aware that these articles could alarm L’Oreal employees but that she wished to reassure them. It said she had long taken all necessary measures to allow the company to develop normally.

Related topics: Business & Financial

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