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PARIS, Dec 18 (Reuters) - A French court on Friday rejected a request by Tereos to suspend three board members, the board members' lawyer said, dealing a blow to the sugar group's efforts to head off an internal revolt.
The court in Senlis north of Paris also ruled an extraordinary board meeting called by the three members and board allies for 1700 GMT on Friday could go ahead, the lawyer, Thibault Guillemin, told Reuters.
A Tereos spokesman said he was not immediately able to confirm the ruling.
"The judge said that there were no grounds to suspend the mandates, that my clients had been properly elected and that the board meeting this evening had been properly convened," Guillemin said.
Some cooperative members at Tereos, the world's second-largest sugar maker, have raised concerns in recent years about the group's financial results and debt, calling for a change in strategy and management.
Tensions worsened last year when eight of them alleged the company had delivered potentially dangerous sorbitol, a sugar alcohol, to Islamic State. Sorbitol produced by Tereos was found in territory controlled at the time by the militant group.
Tereos rejected the allegations and Paris' anti-terrorist authorities dismissed the case. Tereos filed a libel suit against the accusers and won the case late last month.
Days later, three of the eight members who made the allegations were elected or re-elected to the group's supervisory board.
Tereos then postponed a board meeting due to elect a new chairman and asked a court to force the three members to step down for breaking company rules.
The three members - Gerard Clay, Xavier Laude and Jerome Hary - are part of a 14-strong group on the 25-member board that called Friday's meeting, at which the approval of the management committee is on the agenda, a letter seen by Reuters showed. (Reporting by Sybille de La Hamaide. Writing by Gus Trompiz. Editing by Christian Lowe and Mark Potter)
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December 19, 2020 at 01:27AM
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UPDATE 1-French court rejects Tereos request to suspend board members - lawyer - Successful Farming
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