'Rogue trader' seeks new trial

Jerome Kerviel sought the suspension of a French trial into whether he is responsible for Societe Generale's $5.3bn trading loss eight years ago until a criminal court rules on the convicted rogue trader’s bid for a retrial.

Bloomberg News reports that the delay would allow the justice system to decide 'calmly', David Koubbi, Kerviel’s lawyer, said before the start of the damages trial in Versailles Wednesday.

The tribunal said it would decide January 29 on whether to delay the case. In separate proceedings, Koubbi asked for a new criminal trial and France’s court of review and reassessment is set to rule on the matter on March 21.

'After that, if he’s deemed guilty - because that’s the order in which things are meant to go in such cases - the justice system will be able to decide whether there are damages', Koubbi said in reference to Societe Generale’s trading losses.

To access the complete Bloomberg News article hit the link below

Kerviel Seeks to Halt SocGen Damages Case Amid Bid for New Trial

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