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In Conversation with Jacques de Groote - former IMF, World Bank
Wed 7 December 2016, 17:30 – 18:30 CET
Jacques de Groote, the former Executive Director of the International Monetary Fund and CEO of the World Bank will be discussing the case of MUS and how an obscure Czech coal mine became the centre of a billion-dollar Swiss lawsuit and sparked an international outcry.
We will be showing a short film prior to a conversation and Q&A. Drinks and canapes will be provided.
The case in a nutshell: After the fall of the Communism in 1989, a few Czech entrepreneurs, with Mr. de Groote’s help, bought the coal company, fixed its problems, and sold it for a huge profit. To their surprise, a court in faraway Switzerland ruled that the purchase was fraudulent. Now Mr. de Groote and others are awaiting word on an appeal, which they lodged with the court more than three years ago. The case is especially relevant today in light of the tremendous pressure the Swiss are under – from both European and U.S. authorities – to show more transparency in banking.