A French judge has ruled that L'Oreal heiress Liliane Bettencourt, 88, is to be placed under the guardianship of members of her family, because of concerns about Mrs Bettencourt's declining mental health and her ability to manage her fortune, estimated at €16 billion by Forbes magazine. 

Liliane Bettencourt is estranged from her daughter, Francoise Bettencourt-Meyers, who, along with two grandsons, will now control her wealth and property. Another grandson was named as her personal guardian. 

The ruling was a big victory for Mrs Bettencourt-Meyers, who has long said her mother was squandering her money on flatterers and favour-seekers. The two women have been at the centre of a very public feud over the fate of France's third-largest family fortune, which started when it was revealed that celebrity photographer Francois-Marie Banier may have received about €1 billion worth of gifts from Mrs Bettencourt over a 20-year period. A legal case against him was dropped, but other allegations  surfaced about how Mrs Bettencourt's money was possibly being lavished on politicians, including claims of illegal donations to President Nicolas Sarkozy's 2007 election campaign, which are still under investigation.

In a newspaper interview published on Sunday, Liliane Bettencourt threatened to leave France if her daughter succeeded in having her placed under her guardianship. Her lawyer said Mrs Bettencourt was ready for "nuclear war" with her daughter.

Source:www.thenewsonline.es