Major incident at the Private's headquarters ** Developing Story **
 

Yesterday, several of the executives accompanying the court appointed receiver, appointed by the Nevada court in its last rouling, attempted to enforce it, by visiting Private's HQ offices in Barcelona, Spain.

For once more they were denied access by the current CEO Berth Milton. Seems though that it is a matter of time until the court decision of Nevada is enforced in Spain.

Looks like the battle that has troubled Private, Gamelink and Maleflixx the last years, is coming to an end.

I will keep an eye on this thread :)

Please keep us updated.

.

Can someone give us a brief update of what this is about?

Yes please. Why is this happening?

this whole story is like a soap opera...

As for the ones not up to date, check avn or xbiz. Loads of info on there.

I dont care to know bad enough to go typing shit in my browser.

Will be great to see this come to an end Gamelink and Sureflix/Maleflixx will be so much better for it!!!

Cant wait for the shows in September to catch up with everyone!

ok

.........

Amen
ds

:) :) :) :) :)

This is interesting .

so what is the story?

Ddid find any "dirt" on this. So whats with the court?

Private Media Group's current board of directors will remain in place until an annual meeting of shareholders later this year, but a judge has ordered a receiver to take control of all company's assets.

The Clark County judge's ruling to appoint a receiver is being challenged by Private, which has appealed in an emergency writ to the Nevada Supreme Court.

"The company believes that the court’s appointment of a receiver violates state law, as the statutory and other legal requirements for appointment of a receiver have not been met, and that Judge [Elizabeth] Gonzalez’s decision was improperly motivated by personal bias," Private said in a filing obtained by XBIZ today.

Private, which recently posted a pretax net loss of $1.59 million in the last quarter, said that the current board of directors, including Berth Milton, will stay intact for the time being.

The court entered an order appointing Eric Johnson, a Private director and CEO of Private division Sureflix, the receiver for the company.

According to court documents, Johnson has been ordered "to insure specific company conduct."

"Mr. Johnson's first duty as receiver would be to schedule a shareholders' meeting and comply with the counting of the votes," Gonzalez wrote in a court order.

An earlier shareholder vote for Aug. 15 never came about, Gonzalez said, because Private never took "concrete steps" to hold it.

Private also said that the Nevada Supreme Court will hear oral arguments Sept. 8 to determine the validity of a lower court’s order that Consipio Holding has the right to vote 5.6 million shares pledged by Slingsby Enterprises Ltd. in 2001 to secure a $4 million loan from Commerzbank.

Those shares have been claimed to be beneficially owned by Berth Milton, the owner of Slingsby Enterprises Ltd. and CEO of Private.

The appointment of a receiver and surrounding legal claims taking place at Clark County District Court is the result of litigation between former CEO Ilan Bunimovitz and Private since his firing in July 2010.

In the suit, Bunimovitz claims he was terminated for demanding a probe of Milton’s alleged "self-dealing" transactions.

Bunimovitz's Nevada lawsuit, which included Private creditor and co-plaintiff Consipio Holding BV, alleges mismanagement of the company’s business by Private’s three independent directors and current CEO Milton.

In September, Private filed counterclaims against Bunimovitz and Consipio, alleging that Bunimovitz breached his fiduciary duty as a director and CEO of Private by improperly conspiring with Consipio to take control of the Barcelona-based adult entertainment company.

http://www.xbiz.com/news/137950

Will this affect their anti-piracy lawsuits?

It has been a crazy year with the battle for control of our company. Finally looks like the end of Berth's days are near as he is destroying our company. Ilan did an amazing job of turning the company around and when he started looking into Milton’s alleged "self-dealing" transactions last year he was fired. He fought back in the court (follow avn or xbiz for the deets) and now the courts are starting to see things his way.


Key takeaway from the judge's ruling:

Finding of Facts section, Gonzalez states, “Private's directors, most notably Milton, have been guilty of gross mismanagement in the conduct and control of Private's affairs,” that its “directors, most notably Milton, have been guilty of misfeasance, malfeasance or nonfeasance,” that the company “has been unable to conduct its business in accordance with established principles of good corporate governance because of Milton's refusal to allow it do so and his exercise of undue influence over Private's so-called ‘independent’ directors,” that “Private's assets are in danger of waste, sacrifice or loss,” and that “the appointment of a receiver over Private is necessary to preserve its remaining assets and business, and to protect its shareholders.”


Proof crime doesnt pay.

This will not affect this or any other company business. In fact this will help all efforts in our business as we move to a unified company once again.

I'm interested in seeing where this goes.

Total Soap Opera and Im a cast member :(

Funny that most people here don't give a crap about these "breaking news thread" since this board is 95% people who don't care about the Adult Video business, we only care about the online sponsors & webmastering, real ones not DVD/cable production porn companies with a half assed attempt at a paysite program.

Guess this is to be expected since AVN bought this board (for some reason or another)

I just berthed a milton, flushed it right down.

what kind of name is "Berth"?

He's behind the etymology of "give someone a wide berth"

Send Jeff in with his guns to enforce.

thats ballsy to post since right now Berth is still your CEO :winkwink:

are there any particular judgements that found milton guilty of anything? i missed that part. if there are not, it is very likely the judge's ruling would be over turned.

Fucking Rednecks.

http://profile.ak.fbcdn.net/hprofile...9_423009_n.jpg
Berth is a cool guy and he doesn't afraid of anything.

I was thinking the same thing :winkwink: Perhaps he's talking out of turn , any communication at this point, should be reviewed by a lawyer !

I've just sent Berth this thread :)

Thanks Adam for the post.

Berth is a Danish name I believe. His Father was the man started the company. And really they never found anyone to replace him.

To not care about offline is shortsighted. They suffered first from online free porn, now online is feeling the same pinch they felt 10 years ago. Be patient. Online will feel the same pinch for the same reasons.

and here we go again......

Maybe you are not aware but Private has a massive online business - Private.com, PrivateClassics.com gamelink.com, maleflixxx.com just to name a few.

links pulled until an annual meeting of shareholders later this year.

Actually Eric Johnson is in control of the company and I dont intend to work for someone that is shady like Berth with a proven track record of failed businesses. I have stuck around for the last year dealing with this shit fest while i have passed on a number of lucrative job offers, but if he continues to run the company im out. Ilan is as honest as the day is long and I am very proud to work for him and would go to battle till the death for him. Berth actions speak for themselves. This is the guy who announced piracy is a good thing when it is one of the biggest problems private was dealing with and he also thought the ipad is a fad. He is an old DVD guy that will never understand the online space. What is the worst that could happen to me? I get fired. Big deal. If Berth stays in power he will continue to destroy the company till he drives it into the ground. Either way im out of a job.


Since you sent him this thread plz send him this as well

http://youoffendmeyouoffendmyfamily....u_re_fired.jpg

This will NOT affect the anti-piracy efforts at all! Yesterday's filings continue Private's inexorable pursuit of pirates. :thumbsup

http://www.xbiz.com/news/138015

If that is a Danish name, it isent a very common one.
Never ever heard it before :upsidedow