Christian Lacroix, who sat out Paris Week after declaring bankruptcy early this year, may soon be bailed out by a Middle Eastern sheikh with tons of oil money.
The French court announced that it received a serious bid from Hassan Bin Al Nuaimi that it deemed satisfactory. Lacroix was loosing over $10 million a year when its financial partner decided to bail. Nuaimi is the nephew of the ruler of Ajman which is part of the United Arab Emirates
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