Daughter Wins LOreal Family Fight

October 22 00:00 2011

New York, Oct 22, 2011 (RainbowNewsLine.com) – The long ensuing battle for the control of a fortune worth 15 billion Euros and control of international cosmetic giant L’Oreal came to a drastic turn as Françoise Bettencourt-Meyers was awarded control. This was done after the Paris court ruled that the mother of Ms Meyers, Ms Bettencourt is in a mentally unstable condition. The judge said that reports suggested that she was suffering from dementia and she needed to be taken care of. The first decision that Ms Meyers therefore faces when she gains control over the empire is whether to let Ms Bettencourt continue at the board.

The court also placed 89 year old Ms Bettencourt under the guardianship of her grandson and Ms Meyers eldest son. According to the laws in Paris, Ms Bettencourt may have a hard time leaving the country without Ms Meyers permission. This has enraged Ms Bettencourt and she has threatened to leave France, if her guardianship is not revoked.

The family feud had broken out when Ms Meyers accused Ms Bettencourt of gifting away huge sume of money to people who were benefitting because of her falling mental health. It has taken various twists and turns including a broken truce.