California Court of Appeal reverses decision made by trial judge and vindicates Georges Marciano

MONTREAL, June 27, 2012 /CNW Telbec/ - Deeming the damages of $55 million awarded by Justice Elizabeth White to Gary Iskiwitz to be excessive and based on insufficient proof against Guess Jeans founder Georges Marciano, three judges at the California Court of Appeal unanimously reversed the decision and ordered the trial to be sent to a different judge, finding Justice White abusive and that she had "repeatedly personalized the issue of damages."

The situation is likely to be the same for all the other trial judgments in the cases of Joseph Fahs, Miriam Choi, Camille Abat, Steven Chapnick and Elizabeth Tagle rendered against Mr. Marciano. These appeals will be heard in the coming months. Canadian lawyers for Mr. Marciano believe that if the appeals are successful, the reversal of the judgments will, for all practical purposes, nullify the reason for the forced sale of Mr. Marciano's properties.

It will be recalled that on December 8, 2011, Honourable Justice Mark Schrager of the Superior Court of Quebec deemed the seizures (money, property, artworks, luxury cars, jewels, etc.) to be illegal and cancelled them. He ordered the US trustee David Gottlieb and PriceWaterhouseCoopers to return, at their own expense, all assets seized from Mr. Marciano and the third parties involved.

SOURCE ENIGMA COMMUNICATIONS INC.

For further information:

Gilles Corriveau
Enigma communications
Phone: 514 982-0308, ext. 207
Pager: 514 221-2604
g.corriveau@enigma.ca

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ENIGMA COMMUNICATIONS INC.

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