OTHER NEWS - March 11, 1992

MGM’s Owner Files Lawsuit Against Parretti: The big French bank that owns MGM is suing Giancarlo Parretti and his associates in an aggressive move to squelch a renewed effort by the Italian financier to regain the fabled movie studio. In a lawsuit filed in Delaware Chancery Court, Credit Lyonnais asked for a new order reaffirming its control of MGM and parent company Pathe Communications Corp., which were wrested from Parretti last year. The suit asked the court to invalidate an order Parretti obtained from a Rome magistrate effectively reinstating him as the controlling shareholder of Pathe.