As anyone might have predicted, France is distraught over the court ruling in Christian Lacroix's bankruptcy. Industry Minister Christian Estrosi published a statement on his website this week, in which he said he suspects the economic downturn in Dubai is likely what kept Ajman sheikh Hassan Bin Ali al-Nuaimi from submitting his financial guarantees on time. He is tapping the network of French diplomats in the UAE to "alert the sheikh of the urgency of the situation." Dubai's in the hole, but a legendary couturier needs saving. Priorities, please. Making the situation even more urgent, Lacroix has said he doesn't want to work with the Falic Group on any future projects. So if they relaunch Lacroix ready-to-wear and accessories under license, which is a possibility, he wants nothing to do with it.
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