A French appeals court ruled Friday that former trader Jérôme Kerviel is only responsible for a sliver of the €4.9 billion ($5.47 billion) Societe Generale lost after unwinding his trades, raising the possibility the government might reclaim a hefty tax rebate it granted the bank at the time.

Judges ordered Kerviel to pay €1 million to his former employer, overturning a previous ruling which ordering him to pay €4.9 billion to Societe Generale.