Aristophil, the scandal-hit French company that amassed the world’s largest private collection of manuscripts, has been liquidated and its stock will be put up for sale. The August 5 judgment in the Commercial Court, Paris, was based on its “complete insolvency”.
The company’s accounts were frozen in November 2014 by state prosecutors, who described Aristophil as a type of Ponzi scheme (in which existing investors are paid by new investors, rather than out of profits). A mansion owned by the company in Saint-Germain-des-Prés, Paris, was sold in July for around €28m, the proceeds of which went to Aristophil’s bank, Société Générale.
