OTHER NEWS - July 11, 1991
From Times Staff and Wire Reports
Pathe Sues Bank: Pathe Communications Corp., the parent company of MGM-Pathe Communications Co., accused Credit Lyonnais of undermining its acquisition of MGM in a lender liability suit filed in Los Angeles Superior Court. The suit seeks more than $1 billion in damages. Pathe maintains that the French banking giant engaged in a “systematic campaign of misrepresentation, coercion and reneging on lending commitments” after funding its $1.4-billion purchase of MGM.
