Court accepts appeal in Folli Follie case

The Court of First instance has accepted an appeal submitted by the Capital Market Commission over the appointment of new members to Greek jewelry makers Folli Follie’s board.

The commission had sought a preliminary injunction against the appointment of the new board saying that the company’s main owner, Dimitris Koutsolioutsos, was trying to install a management of his own preference, even though he is accused of tampering with the listed company’s financial data.

A general meeting of shareholders had been scheduled for Thursday.