COMPANY TOWN ANNEX

Arrest Warrant Issued for Giancarlo Parretti: A French judge has issued an international arrest warrant for the Italian financier and former Metro-Goldwyn-Mayer owner, who is accused of misusing funds of French affiliates of MGM. The warrant, issued by Paris Judge Patrick Fievet, cited charges of fraud, forgery and misuse of corporate funds. Parretti was indicted in March by Fievet, who was acting on a complaint filed by state-owned French bank Credit Lyonnais. The bank had assisted Parretti in his $1.3-billion purchase of MGM in 1990, and he has been accused of diverting funds from the studio’s French affiliates. Parretti defaulted on his loans, and Credit Lyonnais took over the studio in 1992. The bank said its entanglement with MGM cost it more than $3 billion in all.