BREAKING NEWS

Renault descendants seek redress for nationalization

By REUTERS

MAY 12, 2011 22:47

PARIS - The seven grandchildren of French industrialist Louis Renault are seeking compensation from the state for the nationalization of their grandfather's car company at the close of the Second World War.

The French state nationalized Renault in 1945 shortly after Louis Renault died in jail without being tried, accused of having collaborated with the enemy during the war.

"It's a unique case because it's the only nationalization that took place without a ruling and without compensation," the lawyer for the seven, Thierry Levy, told Reuters.

Renault's grandchildren opened a case with a Paris court last week to seek compensation and asked that experts be named to determine within four months how much they should be indemnified. "No other company was subject to such treatment, not even companies' whose executives were found guilty in court of collaborating" with the enemy, Levy said.

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