July 8, 2011 / 8:15 AM / 8 years ago

French court delays decision on Lagarde inquiry

IMF managing director Christine Lagarde holds a news briefing at the International Monetary Fund headquarters in Washington July 6, 2011. REUTERS/Kevin Lamarque

PARIS (Reuters) - A French court said on Friday it is delaying until August 4 its decision on whether to launch a legal inquiry into the role of IMF chief Christine Lagarde in a 2008 arbitration payout.

An official at the Court of Justice of the Republic read a statement to reporters saying that the decision had been postponed for a second time.

Lagarde, French finance minister until she took up her IMF post this week, has denied any misconduct in her approval of a 285 million-euro payment to a businessman friend of President Nicolas Sarkozy to settle a dispute with a former state-owned bank.

Reporting by Nick Vinocur

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