Credit Lyonnais Trims Some Tinsel
Credit Lyonnais, the giant French bank, is moving to clean up some of the worst of its more than $1 billion in loans to Hollywood companies. In a filing with the Securities & Exchange Commission, Pathe Communications acknowledges that it is being pressed by Credit Lyonnais to sell as much as 40% of the company to pay down a $395 million loan. If Pathe can't find a buyer, the bank may take control of the company.
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