LAGARDE SUMMONED BY FRENCH COURT
Christine Laharde will appear before a French magistrate on May 23 for an investigation over arbitration payment to Bernard Tapie, a sponsor of former president Nicolas Sarkozy.
Lagarde was France finance minister and is the chief of International Monetary Fund. She has denied any wrongdoing in her attempt to settle the dispute between Tapie and Sarkozy.
Magistrates of the French special court suspect Lagarde of complicity for misusing public funds for the purpose during her tenure as finance minister.
Lagarde had conducted the arbitration despite advisors' objections in 2007 and had located 285 million euros of public fund to Tapie to settle the case.
IMF former chief, Dominique Strauss-Kahn resigned over the sexual allegation against him.
The news comes ahead of the IMF and World Bank biennial meeting for discussing the recent issues of world economy.
The investigation is being run from 2011 but Lagarde is summoned by the court for a first time.