B-movie: Credit Lyonnais

Article Abstract:

A Delaware court has ruled that Italian financier Giancarlo Parretti breached an agreement with the Credit Lyonnais subsidiary that lent him $1 billion to help run MGM-Pathe Communications Corp. The bank claimed Parretti was mismanaging the studio and endangering their investment.

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Into battle in the courts

Article Abstract:

A legal battle between Credit Lyonnais' Dutch subsidiary and the two former directors of Epic Holdings, Kirk Kerkorian and Giancarlo Parretti, is taking place in Los Angeles and Paris. The bank charges Kerkorian sold the studio without divulging its financial problems.

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Reeling: Credit Lyonnaise

Article Abstract:

Credit Lyonnais is trying to raise badly-needed capital in order to restructure Metro-Goldwyn-Mayer, the US movie studio it owns. A deal with Thomson-CSF will give that firm an increased stake in Credit Lyonnais, which hopes to sell MGM as soon as it can.

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