Another Legal Defeat for Parretti

Former MGM studio chief Giancarlo Parretti was dealt another legal setback by a Los Angeles judge who rejected his claims of fraud against Credit Lyonnais Bank Nederland.

Superior Court Judge Joseph R. Kalin’s ruling March 13 paves the way for a default judgment against Parretti that could put an end to the six-year legal tangle. Credit Lyonnais’ lawyers received the judge’s ruling Tuesday.

Parretti had accused the French bank of wrongfully conspiring to wrest control of Metro-Goldwyn-Mayer Inc. from him.

Kalin’s ruling left standing a June 9 trial on Credit Lyonnais’ $300-million claim against Parretti.