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KERKORIAN'S CROSS-COMPLAINT AGAINST

 LOS ANGELES, Feb. 5 /PRNewswire/ -- Credit Lyonnais Bank Nederland, N.V. and MGM today reported that Judge Richard Hubbell of the Los Angeles Superior Court granted CLBN's motion to dismiss Kerkorian's cross-complaint against the Bank. The cross-complaint, which was much trumpeted by Kerkorian's attorneys, was dismissed because Kerkorian failed to state a legally viable claim. The Judge indicated that he would allow Kerkorian to try to resubmit a viable legal claim if he can do so within 20 days.
 The Bank's and MGM's original claims against Kerkorian and the other defendants remain in place, and the parties are actively engaged in discovery on those claims. The Bank and MGM look forward to taking those claims, including conspiracy to defraud, fraud and negligent misrepresentation, to the jury. CLBN and MGM are seeking recovery of over $1 billion from Kerkorian and the other defendants, Tracinda Corporation, Houlihan Lokey Howard & Zukin, Inc., Jeffrey Barbakow, Stephen Silbert and Giancarlo Parretti.
 -0- 2/5/93
 /CONTACT: Fredric Spar of Kekst and Company, 212-593-2655, for Credit Lyonnais/


CO: Credit Lyonnais Bank Nederland, N.V.; MGM ST: California IN: ENT SU:

KD -- NY069 -- 3752 02/05/93 17:51 EST
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Publication:PR Newswire
Date:Feb 5, 1993
Words:193
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