You will be redirected back to your article in seconds

Distributor settles with insurer XL

Reinsurance group to pay $5 mil for Franchise suit

BERLIN — German producer-distrib Intertainment said Thursday it had reached a $5 million out-of-court settlement with reinsurance group XL Reinsurance America in connection with its legal battle against Franchise Pictures over fraudulently excessive film budgets.

Connecticut-based XL was an insurer for the now-defunct agent Worldwide Film Completion. Intertainment has withdrawn its claims against XL and Worldwide Film Completion, and certain claims against Worldwide’s principal, Steve Cardone.

Intertainment said it would continue to pursue arbitration court claims against Comerica Bank and other defendants including insurance companies Film Finances and Film Finances Canada.

The Teutonic firm had named XL, part of the XL Capital group, among the defendants in the $100 million lawsuit.

Intertainment won a $122 million legal victory against Elie Samaha and Franchise over the summer over inflated budgets on a slate of films that included “Get Carter” and “The Whole Nine Yards.”

More Film

  • Pixar's ‘Coco’ Moves Morelia to Tears

    Pixar's 'Coco' Moves Morelia to Tears

    BERLIN — German producer-distrib Intertainment said Thursday it had reached a $5 million out-of-court settlement with reinsurance group XL Reinsurance America in connection with its legal battle against Franchise Pictures over fraudulently excessive film budgets. Connecticut-based XL was an insurer for the now-defunct agent Worldwide Film Completion. Intertainment has withdrawn its claims against XL and […]

  • Al Gore

    Al Gore Addresses Trump's Climate Stance at Morelia: 'I Thought There Was a Chance He Would Come to His Senses'

    BERLIN — German producer-distrib Intertainment said Thursday it had reached a $5 million out-of-court settlement with reinsurance group XL Reinsurance America in connection with its legal battle against Franchise Pictures over fraudulently excessive film budgets. Connecticut-based XL was an insurer for the now-defunct agent Worldwide Film Completion. Intertainment has withdrawn its claims against XL and […]

  • steve dayan Teamsters Local 399

    Hollywood Teamsters, IATSE Condemn Sexual Harassment in Entertainment Industry

    BERLIN — German producer-distrib Intertainment said Thursday it had reached a $5 million out-of-court settlement with reinsurance group XL Reinsurance America in connection with its legal battle against Franchise Pictures over fraudulently excessive film budgets. Connecticut-based XL was an insurer for the now-defunct agent Worldwide Film Completion. Intertainment has withdrawn its claims against XL and […]

  • Harvey Weinstein

    Directors Guild Begins Expulsion Process Against Harvey Weinstein

    BERLIN — German producer-distrib Intertainment said Thursday it had reached a $5 million out-of-court settlement with reinsurance group XL Reinsurance America in connection with its legal battle against Franchise Pictures over fraudulently excessive film budgets. Connecticut-based XL was an insurer for the now-defunct agent Worldwide Film Completion. Intertainment has withdrawn its claims against XL and […]

  • Josh Brolin'Only the Brave' film screening,

    Josh Brolin Mourns 'Deadpool 2' Stuntwoman's Death: It Was an 'Absolute Freak Accident'

    BERLIN — German producer-distrib Intertainment said Thursday it had reached a $5 million out-of-court settlement with reinsurance group XL Reinsurance America in connection with its legal battle against Franchise Pictures over fraudulently excessive film budgets. Connecticut-based XL was an insurer for the now-defunct agent Worldwide Film Completion. Intertainment has withdrawn its claims against XL and […]

  • 'Surviving Peace' Review: Does Israel Truly

    Film Review: 'Surviving Peace'

    BERLIN — German producer-distrib Intertainment said Thursday it had reached a $5 million out-of-court settlement with reinsurance group XL Reinsurance America in connection with its legal battle against Franchise Pictures over fraudulently excessive film budgets. Connecticut-based XL was an insurer for the now-defunct agent Worldwide Film Completion. Intertainment has withdrawn its claims against XL and […]

  • Boo 2! A Madea Halloween

    Box Office: Tyler Perry's 'Boo 2!' Set to Top Sluggish Weekend Ahead of 'Geostorm'

    BERLIN — German producer-distrib Intertainment said Thursday it had reached a $5 million out-of-court settlement with reinsurance group XL Reinsurance America in connection with its legal battle against Franchise Pictures over fraudulently excessive film budgets. Connecticut-based XL was an insurer for the now-defunct agent Worldwide Film Completion. Intertainment has withdrawn its claims against XL and […]

More From Our Brands

Access exclusive content