Veland gets bill for Summit judgment

Co. claimed it was owed over $500,000, tried to settle

HOLLYWOOD — The Los Angeles Superior Court has ordered Bjorg Veland to personally pay Patrick Wachsberger’s Summit Entertainment a near-seven-figure judgment.

Summit petitioned the court during the American Film Market earlier this year.

In 2002, Summit claimed it was owed more than $500,000 in overages from Veland’s now-defunct BV Film Intl. under a 1998 license agreement for Guy Ritchie’s “Lock, Stock and Two Smoking Barrels.”

When Summit took its case to arbitration with the American Film Marketing Assn., it resulted in a judgment that, with attorneys’ fees and interest, reached into the high six figures.

After the judgment, BVFI changed its name to Media West and filed for bankruptcy.

Media West was banned from the 2004 AFM for nonpayment of an arbitration award. However, that decision did not affect BVIP’s status as an exhibitor.

“For weeks after AFM, we worked with Bjorg to find common ground,” said Andrew Matosich, Summit’s executive VP and general counsel. “But when we put a written settlement agreement on the table … we were met with delay and then served at the last minute with ex parte court papers seeking to continue the hearing of our motion to hold her personally liable. She left us with no choice but to take settlement off the table and meet her, once again by her own choosing, in court.”

According to Summit attorney Jon Pfeiffer, Summit has taken steps to enforce the judgment in Norway and will seek to bar Veland and BVIP from attending the AFM in Santa Monica in November.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading