Munich-based co. reaches out-of-court agreement
COLOGNE — German producer-distrib Intertainment said Wednesday that it has reached an out-of-court settlement with insurance companies Film Finances and Film Finances Canada.
Deal comes in connection with Intertainment’s legal battle against Elie Samaha and Franchise Pictures over inflated film budgets.
Though Munich-based Intertainment refused to reveal the financial details, deal involves a subagreement with Hong Kong-based Intl. Motion Pictures Corp., which is withdrawing a $4 million arbitration claim against Intertainment connected with the film “Tracker.”
Last summer Intertainment won a $122 million legal victory against Franchise over inflated budgets on a slate of films that included “Get Carter” and “The Whole Nine Yards.”
Intertainment’s claims against Comerica Bank and its managers will be the subject of a $100 million arbitration hearing this year.