GENEVA, Oct. 17, 2007 (PRIME NEWSWIRE) -- Following a decision announced today, the Court of Appeal in Paris (5th Chamber Section A) has rejected Temtrade's application for the revision of the judgment made on 23rd October 2002 which had dismissed its claim for compensation following the violation of its exclusivity contract with L'Oreal/PBI in Russia, Belarus and Ukraine.
Temtrade regrets that its application for revision was rejected. The decision made public today, however, represents but one step in Temtrade's relentless document and information gathering process towards establishing the validity of its claims against L'Oreal/PBI. Efforts to gather evidence are continuing at present and Temtrade is confident that it will succeed in getting the elements that were not deemed acceptable in this instance.
The application for revision was based on new evidence which neither the Court nor Temtrade had any knowledge of back in 2002 and which prove, according to Temtrade, the direct involvement of L'Oreal/PBI on the grey market in Russia.
Temtrade was represented by Mr. Maurice Lantourne, L'Oreal/PBI by Mr. Georges Jourde.
Certain aspects of the dispute are also subject to a criminal investigation in France as most of, if not all the profit generated by L'Oreal/PBI's illegal sales in Russia, Belarus and Ukraine was allegedly diverted through screen companies and tax havens to the advantage of beneficiaries still unidentified to date.
Only the French version is binding.
Note to Editors
Temtrade, established 1967 in Geneva by Mr. Janez Mercun, was from 1974 to the end of 1999 the exclusive agent for some of the most prestigious L'Oreal/PBI brands (Lancome, Guy Laroche, Giorgio Armani, Paloma Picasso.) in a region comprising, among other countries, Russia, Ukraine and Belarus.
The opening by Temtrade of three luxury L'Oreal/PBI shops in Saint-Petersburg, Moscow and Kiev evolved, as of 1993, into the first chain of franchised perfumery and cosmetic shops in Russia, Belarus and Ukraine. Operating under the name of "L'Escale" since 1996, the chain, which was entirely financed by Temtrade, comprised 68 boutiques in 1998. Their decoration and luxurious settings had been prescribed by L'Oreal and sold its most prestigious brands only until that year.
The companies managed by Mr. Mercun were never subject to criticism by L'Oreal. Moreover, they always complied with the legislation of the various countries where they located.