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    Business

    Carlos Ghosn files lawsuit against Nissan for more than $1bn in damages

    Carlos Ghosn files lawsuit against Nissan for more than $1bn in damages

    Former Nissan Motor Co. chairman Carlos Ghosn has filed a lawsuit against a Japanese automaker worth over $1bn, Bloomberg reports.

    Source: AP Photo

     

    The lawsuit, submitted to the Lebanese Court of Cassation, highlights the financial and reputational harm caused by Ghosn's dismissal from Nissan and subsequent arrest.

    Ghosn expressed in the lawsuit that the serious allegations made against him will have long-lasting consequences, impacting his reputation and finances for the rest of his life, despite being based only on suspicion. Over two decades ago, Ghosn played a pivotal role in rescuing Nissan from a precarious situation through financial support from French automaker Renault. He was instrumental in establishing and leading the Renault-Nissan alliance.

    In November 2018, Ghosn was detained in Tokyo on charges of income concealment and spent nearly four months in prison. Nissan swiftly removed him as chairman, and in January 2019, he had to step down as chairman of the board and CEO of Renault.

    Ghosn was released on bail in March 2019, posting $8.9mn, and later in December, he managed to escape from Japan to Lebanon through an intricate operation. He flew from Japan to Istanbul in a private plane concealed inside a case meant for sound equipment. From Istanbul, he was transferred to another aircraft that took him to Lebanon.

    Ghosn firmly denies the charges against him and asserts that he was a victim of collusion orchestrated by senior Nissan executives who aimed to obstruct the company's merger with Renault. The lawsuit seeks significant compensation for the damages suffered by Ghosn due to the events that transpired.

    #Nissan #Japan #cars #business #money

    21.06.2023, 10:29   Comments (0)   857
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