Vivendi told to pay Messier $23.5m

Mr Messier has asked for his golden handshake

The media company, Vivendi Universal, has been ordered to honour a $23.5m (20m euros) pay-out to its ousted chief, Jean-Marie Messier.
A New York tribunal told the Paris-based company it would have to adhere to the severance clause in Mr Messier's contract.
However, Vivendi said that it would challenge the ruling.
"After reviewing the tribunal findings, Vivendi Universal intends to challenge this decision through all available legal actions, both in France and the United States," it said in a statement.
It's indecent that Mr Messier asked and could get 20m euros for an American contract unapproved by the board of directors (Jean-Rene Fourtou, Vivendi chief executive)
Mr Messier, the former chief executive and chairman, was ousted a year ago after shareholders became increasingly angry about the company's finances and a $30bn pile of debt.

'Indecent'

Jean-Rene Fourtou, who replaced Mr Messier, described the tribunal's decision as "scandalous".
Vivendi had asked for the clause on employment termination in Mr Messier's contract to be voided.
The company also argued that the clause had not been approved by the company's board of directors.
"It's indecent that Mr Messier asked and could get 20m euros for an American contract unapproved by the board of directors when one thinks about his responsibility in the very dire situation Vivendi Universal was confronted with last summer," said Mr Fourtou.

Firesale

Since Mr Messier's departure, Mr Fourtou has put many of Vivendi's assets up for sale to reduce its debt burden.
The company is currently considering bids for its entertainment holdings in the US.
Vivendi became a media company after Mr Messier merged a French utility company with the Universal entertainment holdings of the US company Seagram in 2000.
The utility arm has since been spun off and is now known as Veolia Environnement.
The New York tribunal is a US body that provides arbitration for out-of-court settlement of disputes.

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If you wish is to find a spot on Earth where you can escape the everyday chaos and spend some time in surroundings so different from your everyday's, to feel the sea in a proper way, then you need to visit the island of Kaprije. This island, 12 miles away from the county center Sibenik and near two national parks, Krka and Kornati, offers unforgettable summer bathing, crystal clear breath-taking sea, a break in a heavy shade of a Mediterranean pine walk near the sea with that shuffling sound of pebbles and protruding smell of grilled fish. The island of Kaprije is situated in the central part of the Sibenik archipelago with the surface of 9.67km2. It was named after the Mediterranean plant kapara. In the 14th and the 15th ct. the island belonged to the families of the noblemen from Sibenik. During the Turkish invasions in this region in the 16th and the 17th ct., the refugees from the mainland inhabited Kaprije. After the retreat of the Turks, they have partly left the island. That's period when St Peter's church was built. The place is surrounded by the hills among wich the highest is Velika glavica 132m above the sea level. The island vegetation comprises grass and bushes and very rare pine forests. At the foot of those hills there are some smaller fields where mainly olives and grapes are cultivated. Besides the agriculture the inhabitants are also known as skilled fishermen and seamen and lately also, as hospitable hosts. Naturally sheltered from all the winds, on its northeastern side, the port ok Kaprije enables safe berthing to the numerous yachts and to the yachtsmen offers relaxation and good local specialities. As it is well connected with sibenik, besides the seamen, kaprije attracts many visitors and tourists by its beauty, its sea rich in all kinds of fish and its hidden coves. Residents of the island of Kaprije hosted the most unusual guests last week. More then twenty dolphins occupied Kaprije's cove! Those dear animals didn't mind human' company at all so soon many people were swimming near them. Tourists from the nearby yachts hurried to testify this rear occasion, this life-time opportunity... to swim with beautiful dolphins...

George W. Bush to go in Africa from 7 to 12 of July: Senegal, South Africa, Botswana, Ouganda and Nigeria.

MERCREDI 18 JUIN 2003

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Amelia Vega is Miss Universe 2003

We will rock U... @ Cannes festival. Please be our guest and click onto the pic to enter in my very special Cannes photo blog.

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