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WESTINGHOUSE CREDIT SETTLES TONTI SUIT

 WESTINGHOUSE CREDIT SETTLES TONTI SUIT
 PITTSBURGH, Nov. 9 /PRNewswire/ -- Westinghouse Credit Corporation


has reached a non-cash settlement of the lawsuit filed by Creekwood Property Corporation and various business entities controlled by Robert and Edmond Tonti, it was announced today.
 The settlement will not result in any change in management or ownership of the properties, and resolves a business dispute between the parties.
 Westinghouse Credit management said this settlement agreement will not result in the company taking any additional reserves.
 As part of the settlement, the Creekwood Property Corporation suit was dismissed with prejudice. The suit, which was filed in the U.S. District Court in New Mexico in January 1992, had sought actual and punitive damages in excess of $900 million.
 The suit had involved Westinghouse Credit loans to various entities controlled by the Tontis and secured by properties in Louisiana, Texas, Colorado, Arizona and Florida, as well as management agreements for two Westinghouse-controlled properties in Arizona and New Mexico.
 -0- 11/9/92
 /CONTACT: Brad Hemstreet of Westinghouse Credit, 412-393-3232/
 (WX) CO; Westinghouse Credit Corporation; Creekwood Property Corporation ST: Pennsylvania, New Mexico IN: FIN SU:


DM-MK -- PG003 -- 8874 11/09/92 16:11 EST
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Publication:PR Newswire
Date:Nov 9, 1992
Words:195
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