Home / Business and Economy / Drahi's Altice Feud: 1.5 Billion Francs Seized
Drahi's Altice Feud: 1.5 Billion Francs Seized
26 May
Summary
- Swiss courts ordered asset seizure in a legal battle.
- Lawsuit seeks to reclaim over 1.2 billion francs.
- The dispute involves Altice co-founder Armando Pereira.
A legal dispute between Altice co-founder Armando Pereira and Patrick Drahi has intensified, leading to court-ordered asset seizures in Switzerland. Courts in Geneva and Viège issued rulings earlier this month, acceding to Pereira's request.
Pereira claims he is owed at least 1.2 billion francs ($1.5 billion) and has initiated legal proceedings to recover these funds. The specific details of the alleged financial obligations remain central to the ongoing litigation.
This escalation marks a significant development in the falling out between the two former business associates. The legal actions underscore the seriousness of the financial claims being made.
