Europe

IMF chief awaits verdict in French payout case

  • FILE - In this Monday, Dec. 12, 2016 file picture, International Monetary Fund chief Christine Lagarde, right, arrives at the special Paris court, France. French court finds IMF chief Christine Lagarde guilty in arbitration case, but she escapes punishment. (AP Photo/Thibault Camus, File)

    FILE - In this Monday, Dec. 12, 2016 file picture, International Monetary Fund chief Christine Lagarde, right, arrives at the special Paris court, France. French court finds IMF chief Christine Lagarde guilty in arbitration case, but she escapes punishment. (AP Photo/Thibault Camus, File)  (The Associated Press)

  • FILE - In this Monday, Dec.12, 2016 file picture, International Monetary Fund chief Christine Lagarde smiles as she arrives at the special Paris court, France. French court finds IMF chief Christine Lagarde guilty in arbitration case, but she escapes punishment. (AP Photo/Francois Mori, File)

    FILE - In this Monday, Dec.12, 2016 file picture, International Monetary Fund chief Christine Lagarde smiles as she arrives at the special Paris court, France. French court finds IMF chief Christine Lagarde guilty in arbitration case, but she escapes punishment. (AP Photo/Francois Mori, File)  (The Associated Press)

  • International Monetary Fund chief Christine Lagarde's lawyer, Patrick Maisonneuve, addresses media outside a special Paris court, France, Monday, Dec. 19, 2016. French court finds IMF chief Christine Lagarde guilty in arbitration case, but she escapes punishment. (AP Photo/Michel Euler)

    International Monetary Fund chief Christine Lagarde's lawyer, Patrick Maisonneuve, addresses media outside a special Paris court, France, Monday, Dec. 19, 2016. French court finds IMF chief Christine Lagarde guilty in arbitration case, but she escapes punishment. (AP Photo/Michel Euler)  (The Associated Press)

Christine Lagarde, the International Monetary Fund's managing director, is awaiting the verdict of a special French court for alleged "serious negligence" over a huge payout to a business magnate while she served as France's finance minister.

The Court of Justice of the Republic is to deliver its verdict later Monday after a week-long trial. The court handles cases involving ministers.

Lagarde has maintained her innocence, and the prosecutor has asked for an acquittal.

The case revolves around a 403 million-euro ($425 million) arbitration deal given to tycoon Bernard Tapie in 2008 over the botched sale of sportswear maker Adidas in the 1990s. The amount prompted indignation.

Civil courts have since quashed the unusually generous award, declared the arbitration process and deal fraudulent and ordered Tapie to pay the money back.