On behalf of Koch & Schmidt posted in Business Torts on Tuesday, October 18, 2016.
Many issues can arise during the making of a major Hollywood motion picture (or any business venture in Louisiana, for that matter) that may cause delays or impediments to completion. One recent film starring Mark Wahlberg, Catherine Zeta-Jones and Russel Crowe has been the center of a breach of contract battle between filmmakers and the film’s main investor. None of the three stars were mentioned in the dispute that recently settled for millions of dollars.
The film’s main investor, Nemesis Finance, filed a lawsuit against several entities, including the producers, asserting that misrepresentations regarding debts owed to investors would cause the company to lose as much as $1.6 million. Reportedly, those named in the claim were deemed responsible for or had participated in falsely stating the amounts owed to investors so as to lower the residual reserve deposits they would be required to pay. The film, “Broken City,” was released in 2013.
Those involved in the lawsuit have apparently settled their case. The settlement provides that Nemesis Finance will receive $6.2 million with regard to its fraud and breach of contract claims. While it may seem logical that working partners would part ways after such a legal debacle, word has it that those involved in this dispute have settled their differences amicably and plan to work with one another again in the future.
Many times, positive results are obtained in Louisiana disputes due to skilled and experienced representation retained to negotiate such issues. There are several possible outcomes in every breach of contract situation. An experienced business and commercial law attorney would be able to pursue the best possible solutions in alignment with a client’s immediate and long-term business goals.
Source: deadline.com, “‘Broken City’ Fraud & Breach Of Contract Suit Settled“, David Robb, Sept. 26, 2016