March 21, 2008 / 8:39 AM / 11 years ago

SocGen launched legal proceedings against Goldas

PARIS, March 21 (Reuters) - French bank Societe Generale (SOGN.PA) said on Friday it had launched a legal proceeding against Turkish jewellery maker Goldas GOLDS.IS.

“Societe Generale confirms that it has launched a legal proceeding against Goldas to enforce their obligations to us,” the bank said in a statement, without elaborating.

Trading in shares of Goldas were suspended on Friday pending a statement from the company on newspaper reports of a commercial dispute between it and Societe Generale.

Newspapers said Goldas officials on Thursday gave a statement to Turkish prosecutors on the matter after Societe Generale had petitioned the prosecutors about the fate of 15 tonnes of gold which it had asked Goldas to sell.

Goldas said in a statement that media reports on the matter included “groundless allegations” about the company. It said the matter was a “commercial dispute” between Goldas and the French bank. (Reporting by Dominique Vidalon)

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