Nevada Justices to Hear Arguments in 3 Private Media Group Suits

Jan 30, 2012 11:45 AM PST

CARSON CITY, Nev. — Oral arguments have been slated for March 5 in three petitions filed at Nevada's highest court relative to the Private Media Group shareholder litigation.

Nevada justices will hear three 30-minute sets of oral arguments on that day in the following cases:

  • Private Media Group vs. Consipio Holding BV;
  • Milton vs. Clark County District Court (relative to Consipio's case); and,
  • Consipio Holding  BV vs. Carlberg.

The three cases before the Supreme Court involve a challenge by the plaintiffs to a lower court's order appointing the receiver, a challenge   by the defendants to the lower court uling granting a motion to dismiss five former directors of Private, and the challenge by now-suspended Private CEO Berth Milton to the lower court's assertion of personal jurisdiction over him.

The March 5 slate of oral arguments stem from an order issued last year that stated, in part, "Having reviewed the status of these matters, we conclude that judicial efficiency will be served  by considering them together."

Since last summer, Eric Johnson has acted as receiver for the Barcelona-based company, later carrying out the chief executive responsibilities after Milton was suspended by Johnson.

Johnson, who also is CEO of Private unit Sureflix Digital Distribution, serves as CFO and corporate secretary in addition to receiver and acting CEO after exec Johan Gillborg was terminated.

The receivership is the result of a Las Vegas suit that pits litigating shareholders — led by Consipio, Tisbury Services Inc., shareholder Claudio Gianascio and shareholder and former CEO Ilan Bunimovitz — against front-office management.

The plaintiffs claim the company has been rocked by embezzlement, among other charges, brought on by Milton and former shareholders.

Earlier this month, Private shareholders voted in a new board.

The new board comprises Johnson, Bunimovitz, Anna Maksimova, Michael Martinez, James McCormick and Charles William Prast..

Private operates 20 divisions, including Cine Craft Ltd. of Gibralter, Coldfair Holdings Ltd of Cyprus,  Fraserside Holdings Ltd. of Cyprus,  Peach Entertainment Distribution AB of Sweden, Milcap Media Group SL of Spain, Private Media Group Services SL of Spain, Private Benelux BV of The Netherlands, Private France SAS of France, Private North America Ltd. of California, Barbuda BV of The Netherlands, Ceresland SL of Spain, Private Media Group Canada Inc. of Canada, Fraserside IP LLC U.S. of Iowa, ThinkForward Inc. of California, GreenCine Inc. U.S. of Delaware, Mama’s LLC U.S. of Delaware, GameLink LLC of Delaware, eLine LLC of Delaware, Sureflix Digital Distribution Inc. of Delaware and Entruphema Inc. of Canada.

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