Casino Quarrel Goes To Court
(N.Z. Press Assn.—Copyright) MONTE CARLO, February 27.
The Supreme Court of Monaco began hearing submissions on Monday in the dispute between Prince Rainier and the Greek shipping tycoon, Mr Aristotle Onassis, over the running of the Principality’s gambling casino.
A ruling in the case was not expected before Wednesday. At stake, is the control of the Society des Bains de Mers,
the company which controls the casino, the Monte Carlo beach, the tennis courts at St Roman and the St. Angel golf course. Mr Onassis has been the majority stockholder in the societe for the last 10 years. On June 23 last year the Monegasque National Council, at Prince Rainier’s urging, created 600,000 new shares in the company, most of which went to the State. Prince Rainier thus replaced Mr Onassis as the majority stockholder. Prince Rainier wants to modernise Monaco. Mr Onassis wants to retain the status quo. After the new stock was issued, Mr Onassis claimed that the ; move was illegal and took tha case to court
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Bibliographic details
Press, Volume CVI, Issue 31307, 1 March 1967, Page 17
Word Count
174Casino Quarrel Goes To Court Press, Volume CVI, Issue 31307, 1 March 1967, Page 17
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