×

Former Hemdale exex target of NSB lawsuit

NSB Film Corp., the former Hemdale Film Corp., sued its former top execs Monday for selling off valuable assets to another company they ran at cut-rate prices prior to putting the company into bankruptcy.

As part of its bankruptcy action, NSB sued John Daly, Hemdale’s former chairman/CEO; Derek Gibson, its former president/chief operating officer; and Rene Rousselet, its former vice president of finance.

The trio hold similar titles at Hemdale Communications Inc., a company created in 1988 and renamed shortly after NSB filed for bankruptcy protection in October 1992.

NSB alleges that another company run by Daly and Gibson, Hemdale Pictures Corp., failed to repay a $ 1.6 million loan from NSB.

Additionally, the suit charges the trio with transferring the music publishing rights from Hemdale’s library to yet another Daly/Gibson company — Beverly Partners Ltd. — absent “valuable consideration,” according to the suit.

The suit also alleges that Hemdale sold its Beverly Blvd. office in September 1990 to Beverly Partners for $ 2.5 million, even though it had been appraised at $ 3.6 million four months earlier.

And finally, the suit accuses Gibson, Daly and Rousselet, while they were in change, of selling a bulk of Hemdale’s homevideo rights, including the blockbuster “Terminator,” to Hemdale Home Video, still another company controlled by the trio. The deal called for NSB to receive a percentage of the receipts generated from the video sales, but the suit alleges that the company has gotten nothing.

In addition to Daly, Gibson and Rousselet, the suit also names Hemdale Pictures, Hemdale Home Video and Beverly Partners as defendants. Rousselet said including him in the suit was “ridiculous.” Gibson declined to comment on the substance of the suit since he had not yet seen it.

“On the surface, these allegations are without merit,” Gibson said.

More Film

  • AMC TheatresShop signs, Los Angeles, America

    AMC Theatres Accused of Firing VP Who Complained of Gender Pay Gap

    A former vice president at AMC Theatres filed a federal lawsuit on Wednesday, accusing the company of firing her after she complained that she was paid far less than her male peers. Tonya Mangels, who was vice president of product marketing, said that in March 2018 her supervisor inadvertently sent her a spreadsheet that included [...]

  • Sir Elton John poses for photographers

    Elton John Calls 'Lion King' Remake a 'Huge Disappointment'

    Elton John isn’t feeling the love for Disney’s latest live-action remake. In an interview with GQ U.K., the legendary musician criticized Disney’s remake of “The Lion King,” citing the film’s music as a “huge disappointment.” “The new version of The Lion King was a huge disappointment to me, because I believe they messed the music [...]

  • Fiddlin'

    Film Review: 'Fiddlin''

    Not many forms of music have “old-” actually built into their name as a prefix. So it’s a given that the practitioners of the 200-year-old genre known as “old-time music” will wear their antiquity proudly in “Fiddlin’,” a documentary set in and around the 80th annual Old Fiddler’s Convention in Galax, Va. What may not [...]

  • Jonah Hill attends the press conference

    Jonah Hill Passes on Role in 'The Batman'

    After being offered a role in “The Batman,” Jonah Hill has moved on from the project. Why exactly Hill is passing is currently unknown, and insiders tell Variety that when the news was initially reported, it was very early in the negotiations and that a deal was far from closing. The news comes after Zoe [...]

  • Daniel Kaluuya Elizabeth Moss

    SCAD Savannah Film Festival Honorees Include Daniel Kaluuya, Elisabeth Moss

    Daniel Kaluuya, Elisabeth Moss, Danielle Macdonald, Aldis Hodge, Valerie Pachner, Samantha Morton, Sienna Miller, Alan Silvestri and Olivia Wilde are set to be honored at the 22nd Annual SCAD Savannah Film Festival. Breakout Award honorees include Beanie Feldstein, Kaitlyn Dever, Jharrel Jerome, Mena Massoud and Camila Morrone. Macdonald, who appears on Netflix in “Unbelievable” and [...]

  • Alexander Skarsgard, Nicole Kidman. Alexander Skarsgard,

    Nicole Kidman, Alexander Skarsgard to Reunite for Robert Eggers' 'The Northman'

    With his latest film “The Lighthouse” set to bow this weekend, Robert Eggers’ next film has cast two leads, “Big Little Lies” alums Nicole Kidman and Alexander Skarsgård. The pic, titled “The Northman,” is described as a Viking revenge saga set in Iceland at the turn of the 10th century. In talks to join Kidman [...]

  • Jessica Henwick

    'Matrix 4' Taps 'Iron Fist' Star Jessica Henwick

    Jessica Henwick is in final negotiations to star in the upcoming fourth installment of the “Matrix” franchise. She joins Keanu Reeves and Carrie-Anne Moss, who will be reprising their roles in the film, as well as Yahya Abdul-Mateen II, who was tapped as one of the leads last week. Neil Patrick Harris also just joined [...]

More From Our Brands

Access exclusive content