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Private Media Group Board Member Resigns

Private Media Group Board Member Resigns
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Sep 12, 2011 3:30 PM PDT    Text size: 

BARCELONA — Private Media Group says that one of its board members has resigned from its board of directors.

"[Peter] Dixinger’s resignation was not the result of any disagreement with the company on any matter relating to the company’s operations, policies or practices," the company said in a filing with regulators on Friday.

Dixinger is the second board member to resign in the past few months. Board member Brent Akander earlier resigned from the six-member panel.

Private noted that Dixinger also resigned as a member of the company’s Audit Committee. Both moves were effective Sept. 2.

The adult entertainment company plans on a new shareholder vote for board seats later this year.

Private, in another regulatory filing on Friday, said that it is subject to an order of attachment in New York because of a key ruling in a shareholders suit led by former CEO Ilan Bunimovitz and Consipio Holding BV.

Private said that a New York judge found there is "serious question as to the company’s ability to satisfy a judgment in the event Consipio is ultimately successful on the merits of the case"

The order of attachment is about $7.35 million, including probable interest, costs and sheriff’s fees and expenses, Private said.

Consipio and Bunimotiz filed a lawsuit against Private, Slingsby Enterprises Ltd. and CEO Berth Milton in New York state court, alleging the failure to pay a Slingsby promissory note from 2001 for $4 million.

Private has been embroiled in another legal battle in Nevada, where it operates its corporation although the company is run out of Barcelona.

In a suit separate from the New York one, Bunimovitz claims in Nevada state court that he was terminated for demanding a probe of  Milton’s alleged "self-dealing" transactions that total $10 million.

Bunimovitz's lawsuit, which includes Consipio as a plaintiff, alleges mismanagement of the company’s business by three Private directors and Milton.

A Clark County, Nev., judge has ruled that Private should be operated by a receiver, which already is being challenged by Private at the Nevada Supreme Court.

Eric Johnson, Private's receiver, did not immediately respond for XBIZ comment on the latest Private announcements.

In separate news, a Private official told XBIZ that Leslie Amadio, its head of corporate communications, is no longer with the company.

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