Sunday, November 02, 2008

Clearstream Wins Defamation Award Appeal Over French Journalist



Clearstream Wins Defamation Award Appeal Over French Journalist

By Heather Smith

Oct. 16 (Bloomberg) -- Clearstream International SA, the financial-settlement company owned by Deutsche Boerse AG, won 1,500 euros ($2,000) in damages from a French journalist in its appeal of an earlier 1-euro defamation award.

The Paris court of appeals ruled that reporter Denis Robert and his publisher Les Arenes, or Canal Plus, the pay-TV unit of Vivendi SA that ran a documentary in 2001 featuring Robert's reports, erred when they claimed that Clearstream's numbered accounts facilitated illegal activities, according to a statement from Clearstream.

Clearstream's goal ``has been to establish the truth about its activities and to defend its honesty,'' said Clearstream Chairman Andre Roelants in the statement. The appeals court's decision to increase the damages ``accomplishes that.''

An appeals court in Brussels last month fined Canal Plus Belgique 1 euro in a libel case over the same documentary.

A spokesman for Canal Plus and Larence Corona, a spokeswoman for Les Arenes, declined to comment on today's ruling. Robert's lawyer didn't immediately return a call for comment.

To contact the reporter on this story: Heather Smith in Paris at hsmith26@bloomberg.net

Last Updated: October 16, 2008 13:18 EDT
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