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MGM ANNOUNCES U.K. LEGAL VICTORY

 CULVER CITY, Calif., April 6 /PRNewswire/ -- Metro-Goldwyn-Mayer Inc. (MGM) announced today that two of the company's U.K. subsidiaries, Cinema 5 (UK) Ltd. and Cannon Exhibition Ltd., have won a significant legal victory in the United Kingdom against Sandhurst Assets Inc., Tanja DiStefano and Giovanni Di Stefano and Comfinance International S.A., a company controlled by Giancarlo Parretti, his wife and family (the "defendants").
 The high court in England upheld, in their entirety, the MGM subsidiaries' claims that the defendants had conspired to defraud them of the shares in Cannon Exhibition Ltd. (which owns a number of theater properties in the United Kingdom) and had also fraudulently granted bogus securities to Comfinance International S.A. The judge ruled that the documents on which the defendants had relied were prepared in bad faith and were intended to deceive with the aim of depriving Cinema 5 (UK) Ltd. and Cannon Exhibition Ltd. of their assets. The judge has further directed that the defendants pay substantial damages for conspiracy to defraud.
 "We are extremely pleased by this clear victory against the continuing attempts by Parretti's companies and associates to disrupt the company's operations," said Alan Ladd Jr. and Dennis Stanfill, co-chairmen and co-chief executive officers of the company.
 MGM is involved in the worldwide production and distribution of motion picture and television programs and operates theater chains in Europe.
 -0- 4/6/93
 /CONTACT: Craig A. Parsons of Pondel Parsons & Wilkinson, 310-207-9300, for MGM/


CO: Metro-Goldwyn-Mayer Inc.; Cinema 5 (UK) Ltd.;
 Cannon Exhibition Ltd. ST: California IN: ENT SU:


KJ-JL -- LA009 -- 3343 04/06/93 09:05 EDT
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Apr 6, 1993
Words:265
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