Consipio: Private Has Failed to Register 1.65M Shares

NEW YORK — Consipio Holding Group, which claims to hold 5.6 million shares of Private Media Group stock, filed a second amended compliant against the adult entertainment giant to recover on a promissory note, guarantee and pledge agreement.

The amended complaint, which was filed on Dec. 22 at New York State Supreme Court, claims that in December 2001, Private executed a note for $4 million and agreed to repay Commerzbank, a stock corporation, the full amount including interest.

At the same time, Slingsby, a shell corporation Consipio claims was formed by Private Media chairman and CEO Berth Milton to handle his personnel assets and is “nothing more than Milton’s alter ego,” executed a shareholder guaranty as well as a pledge agreement, guaranteeing payment of all of Private’s obligations.

The amended complaint claims that Private and Slingsby failed to pay any portion of the amount due under the note by March 2003.

In April 2003, Commerzbank sold the note to Consipio, which also purchased all of Commerzbank’s rights under the guaranty and note documents.

Both Consipio and Private entered into an agreement to modify the note, extending its maturity date to April 2008.

When the maturity date arrived, Private refused to pay the remaining balance on the note, which is currently in default, according to the amended complaint.

Since then, Consipio has demanded that Slingsby and Private cooperate with Consipio to register 1.65 million shares of the 5.6 million shares of common stock pledged by Slingsby as collateral.

“Consipio holds a certificate registered to Slingsby for said 1.65 million shares, but Slingsby, Miton and Private have impeded Consipio’s ability to register said shares in Consipio’s name,” the complaint said.

Consipio claims it has suffered injury and seeks compensatory damages, interest, costs and other fees to be determined at trial.

Related:  

Copyright © 2025 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

Federal Appeals Court Vacates FTC 'Click to Cancel' Rule Pending Review

The U.S. Court of Appeals for the 8th Circuit on Tuesday vacated the Federal Trade Commission’s “click-to-cancel” rule aimed at making it easier for consumers to cancel online subscriptions, pending further review.

NYC Adult Stores Lose Challenge to Zoning Law, May Face Relocation

The U.S. Court of Appeals for the 2nd Circuit on Tuesday upheld a lower court’s decision to allow enforcement of a 2001 zoning law aimed at forcing adult retail stores out of most parts of New York City.

FSC Drops Florida AV Lawsuit in Wake of SCOTUS Decision

A U.S. district court judge granted on Tuesday a motion by Free Speech Coalition to dismiss the trade association’s lawsuit over Florida’s age verification law, a case that had been on hold pending the Supreme Court’s recent ruling on the constitutionality of state AV laws.

Ukrainian President Responds to Porn Legalization Petition

President Volodymyr Zelensky responded Tuesday to an OnlyFans model’s petition to decriminalize pornography in Ukraine, stating that he would wait for the legislative process to play out “in accordance with established procedure.”

Only Tax Deductions Joins Pineapple Support as Sponsor

Adult industry accounting firm Only Tax Deductions has joined the ranks of over 70 adult businesses and organizations committing funds and resources to Pineapple Support.

Adult Empire Launches 'Conversations' Podcast Series

Adult Empire has launched a new official podcast series hosted by Nicole Chappelle and Charlie.

Sex Work CEO Launches 'Teams Plan' for AI Assistant

Sex Work CEO has introduced the new Teams Plan for its AI-powered, NSFW text generator, GPTease.

2025 XBIZ Amsterdam Website Launches With Call for Speakers

XBIZ is pleased to announce that the website for its annual European conference, XBIZ Amsterdam, is now live.

NC Governor Vetoes Bill Targeting Adult Industry, Override Possible

North Carolina Governor Josh Stein today vetoed a bill imposing new regulations that adult industry observers have warned could push adult websites and platforms to ban most adult creators and content.

25,000 Sign Petition to Legalize Pornography in Ukraine

An OnlyFans model’s petition to decriminalize pornography in Ukraine has amassed the 25,000 signatures required for official consideration by President Volodymyr Zelensky.

Show More