IBill Settles With Penthouse Founder Guccione - GoFuckYourself.com

Hornydog4cooter · 05-19-2006, 10:59 PM

NEW YORK ? Penthouse founder Bob Guccione settled his lawsuit this week against iBill for an undisclosed sum, XBIZ has learned.

Guccione charged in a lawsuit that iBill, as well as Penthouse Media Group and its executives, drove his empire into bankruptcy.

The case against Penthouse and CEO Marc Bell, as well as Daniel Staton, Charles Samel, Jason Galanis and Luis Enrique Molina Galeana, continues.

?We?ve settled with iBill through private discussions,? Jamie Brickell, Guccione?s attorney, told XBIZ. The settlement was certified for publication by the U.S. District Court in New York.

Brickell refused to disclose terms of the settlement with iBill, which is owned by parent company Interactive Brand Development of Deerfield Beach, Fla.

Interactive Brand Development holds a 35 percent stake in Penthouse.

In his suit filed in New York County Court, Guccione claimed that rather than reorganize his financially troubled General Media International, he allowed the Penthouse executives to acquire it and reorganize, on the promise they would let him keep his townhouse mansion, pay him $1 million a year for 25 years and pay him $15 million if they failed to perform.

The suit claimed the defendants owed him severance of $7.5 million plus legal fees after he left the company.

Guccione, who founded Penthouse nearly 40 years ago, was ousted from the publication despite an original plan for him to stay on as publisher emeritus.

http://www.xbiz.com/news_piece.php?id=15061

will76 · 05-19-2006, 11:16 PM

Quote:

Originally Posted by Hornydog4cooter

NEW YORK ? Penthouse founder Bob Guccione settled his lawsuit this week against iBill for an undisclosed sum, XBIZ has learned.

Guccione charged in a lawsuit that iBill, as well as Penthouse Media Group and its executives, drove his empire into bankruptcy.

The case against Penthouse and CEO Marc Bell, as well as Daniel Staton, Charles Samel, Jason Galanis and Luis Enrique Molina Galeana, continues.

?We?ve settled with iBill through private discussions,? Jamie Brickell, Guccione?s attorney, told XBIZ. The settlement was certified for publication by the U.S. District Court in New York.

Brickell refused to disclose terms of the settlement with iBill, which is owned by parent company Interactive Brand Development of Deerfield Beach, Fla.

Interactive Brand Development holds a 35 percent stake in Penthouse.

In his suit filed in New York County Court, Guccione claimed that rather than reorganize his financially troubled General Media International, he allowed the Penthouse executives to acquire it and reorganize, on the promise they would let him keep his townhouse mansion, pay him $1 million a year for 25 years and pay him $15 million if they failed to perform.

The suit claimed the defendants owed him severance of $7.5 million plus legal fees after he left the company.

Guccione, who founded Penthouse nearly 40 years ago, was ousted from the publication despite an original plan for him to stay on as publisher emeritus.

http://www.xbiz.com/news_piece.php?id=15061

fuck'em all. i hope they all rot in jail sooner or later.

gooddomains · 05-19-2006, 11:48 PM

ibill saga continues

BoyAlley · 05-19-2006, 11:52 PM

I wonder if he has to send sales in order to get his settlement money?

UtahSaints · 05-19-2006, 11:55 PM

I guess Im not the only one asking questions about Ibill today

SilentKnight · 05-20-2006, 06:47 AM

Quote:

Originally Posted by BoyAlley

I wonder if he has to send sales in order to get his settlement money?

Why wouldn't that surprise me?

Screaming · 05-20-2006, 06:49 AM

fuck ibill

05-19-2006, 10:59 PM	#1
Hornydog4cooter Confirmed User Join Date: Jan 2005 Posts: 2,859	IBill Settles With Penthouse Founder Guccione NEW YORK ? Penthouse founder Bob Guccione settled his lawsuit this week against iBill for an undisclosed sum, XBIZ has learned. Guccione charged in a lawsuit that iBill, as well as Penthouse Media Group and its executives, drove his empire into bankruptcy. The case against Penthouse and CEO Marc Bell, as well as Daniel Staton, Charles Samel, Jason Galanis and Luis Enrique Molina Galeana, continues. ?We?ve settled with iBill through private discussions,? Jamie Brickell, Guccione?s attorney, told XBIZ. The settlement was certified for publication by the U.S. District Court in New York. Brickell refused to disclose terms of the settlement with iBill, which is owned by parent company Interactive Brand Development of Deerfield Beach, Fla. Interactive Brand Development holds a 35 percent stake in Penthouse. In his suit filed in New York County Court, Guccione claimed that rather than reorganize his financially troubled General Media International, he allowed the Penthouse executives to acquire it and reorganize, on the promise they would let him keep his townhouse mansion, pay him $1 million a year for 25 years and pay him $15 million if they failed to perform. The suit claimed the defendants owed him severance of $7.5 million plus legal fees after he left the company. Guccione, who founded Penthouse nearly 40 years ago, was ousted from the publication despite an original plan for him to stay on as publisher emeritus. http://www.xbiz.com/news_piece.php?id=15061

05-19-2006, 11:55 PM	#5
UtahSaints Confirmed User Industry Role: Join Date: Jan 2005 Posts: 1,538	I guess Im not the only one asking questions about Ibill today __________________ Enjoy Bucks - Enjoy Bucks

05-20-2006, 06:49 AM	#7
Screaming I can change this!!!!! Join Date: Feb 2004 Posts: 18,972	fuck ibill __________________

05-19-2006, 11:48 PM	#3
gooddomains Too lazy to set a custom title Join Date: Jul 2003 Location: Netherlands Posts: 10,127	ibill saga continues

05-19-2006, 11:52 PM	#4
BoyAlley So Fucking Gay Join Date: Nov 2004 Posts: 19,714	I wonder if he has to send sales in order to get his settlement money?