Tag Archives: L’Oreal

L’Oreal Heiress, Liliane Bettencourt, Subject To Guardianship

The second richest woman in the world, Liliane Bettencourt, has been declared mentally unfit to manage her affairs by a Judge in France yesterday.  The decision grants control of her financial affairs to her only child, daughter Francoise Bettencourt-Meyers, and grandsons Jean-Victor and Nicolas.  Bettencourt-Meyers has been fighting for years to protect her 88-year old mother, who has been victim to financial exploitation to the tune of more than one billion dollars, according to an earlier lawsuit.

Bettencourt suffers from “mixed dementia” and “moderately severe” Alzheimer’s disease, according to a medical report relied on by the Judge in making her decision.  Her mental decline sparked a family court fight.  It began three years ago when Bettencourt-Meyers started a lawsuit to protect her mother from photographer Francois-Marie Banier, who she claimed had charmed the elder Bettencourt out of assets worth almost one billion euros (about 1.4 billion dollars).  She also named Banier as sole heir in a new will and as beneficiary to vast life insurance policies.

Bettencourt was so furious Read more...

| 2 Comments

Trial over L’Oreal heiress sparks French political scandal

It’s been more than 18 months since the daughter of France’s richest woman sued to protect her from a man described as a “dandy” who had received more than $1 billion (U.S. value) in gifts from the owner of cosmetic giant L’Oreal.  You can read The Probate Lawyer Blog’s last article on the case here.Lillianebettencourt

The daughter of 87-year-old Liliane Bettencourt sued Francois-Marie Banier, a 63-year old (male) celebrity photographer who reportedly has befriended Johnny Depp, Salvador Dali and others.  Banier claims the lavish gifts of cash and art masterpieces were given to him by Bettencourt when she was mentally competent as a thank-you for his years of friendship and help as an advisor.

Bettencourt’s daughter, Francoise Bettencourt Meyers, was permitted to sue Banier criminally last year.  This means that if she wins her lawsuit, Banier will not only have to return the money, but also face jail time.  The case was set for trial late last week.

There was already plenty of intrigue surrounding the famous fortune fight Read more...

| Leave a comment