The plan was for a glittering marriage -- but it's ended up in court.
French Luxury goods giant LVMH countersued iconic US jeweler Tiffany on Monday.
LVMH argued Tiffany's financial mismanagement in the global crisis permits them to walk away from its proposed $16 billion acquisition of the company.
It comes after Tiffany sued the maker of Louis Vuitton bags earlier this month.
The jewelers object to LVMH's decision not to go through with the deal they signed in November partly because of the impact of the health crisis.
In its counterclaims, LVMH pointed the finger at a French government request to delay the close.
Tiffany disputed LVMH's assertion that the government intervention prevents it from closing the deal.
The legal battle pits two of the biggest names in global luxury against each other at a time when the industry has been hit hard.
A U.S. judge last week set a four-day trial on the case beginning Jan. 5.