Judge puts L’Oreal heiress under protection
Lawyers for the L’Oreal heiress said a judge ordered the 88-year-old French billionaire and her fortune placed under the legal protection of her daughter and grandsons.
Bettencourt lawyer Jean-Rene Farthouat called the decision by a judge in the western Paris suburb of Courbevoie “profoundly disappointing” and “quite simply criticisable.” It goes into effect immediately.
Bettencourt’s heirs reportedly are concerned about her health and management of her fortune, estimated at $20 billion by Forbes magazine. She is a major shareholder in cosmetics giant L’Oreal, which was founded by her father Eugene Schueller in 1907.
The daughter, Francoise Meyers-Bettencourt, and her mother have waged a years-long battle over the management of the fortune, but late last year appeared to have resolved their legal dispute over more than euro1 billion ($1.3 billion).
French daily Le Monde said the judge’s decision was based in part on a court-ordered medical examination that found the heiress suffered from “moderately severe” Alzheimer’s disease.