MGM Bankruptcy Claim Settled: An out-of-court settlement...
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From Times Staff and Wire Reports
MGM Bankruptcy Claim Settled: An out-of-court settlement has been reached between MGM-Pathe Communications Co. and the principal group of creditors who sought to force the studio into liquidation. Attorneys for both sides will join in a motion to dismiss the case, which is set for a Los Angeles federal bankruptcy court hearing on Thursday. The creditors, who are owed about $15 million, will be paid in full under the settlement, attorneys in the case said.
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