Kim Basinger’s long court battle soon may be coming to an end.
Sources say the actress – with a new lawyer in tow – and Main Line Pictures, the company that contends it contracted her to play the lead in the indie film “Boxing Helena,” are close to reaching an out-of-court settlement.
The agreement comes at a crucial point in the proceedings when both sides would otherwise be gearing up to go back to court. A July court date had been set in Los Angeles Superior Court.
It was almost two years ago to the day that a jury decided Basinger had breached a verbal contract to star in the film and subsequently awarded Main Line and the company’s president, Carl Mazzocone, $8.9 million.
During the court proceedings, Mazzocone contended that Basinger’s backing out of the deal cost him millions in foreign pre-sales.
The judgment later was reduced to $8.1 million. Basinger, in turn, filed for bankruptcy.
The attorneys brought in to handle the bankruptcy worked out a settlement for Basinger to pay Main Line $6 million, $2.2 million of which would not be paid until all other unsecured creditors were paid in full.
That, in essence, cut Main Line’s award to $3.8 million.
Then, in an unexpected turn of events, the California appeals court, on a technicality, in September overturned the original judgment against Basinger. A month later a U.S. bankruptcy judge threw out the $3.8 million settlement, calling it “too rich.”
That put the suit back at ground zero and sources say the actress began shopping around for a new attorney, ousting Howard Weitzman. Weitzman originally repped Basinger and her agency, Intl. Creative Management, which had been named in the suit.
ICM was dropped from the proceedings during the trial.
Basinger now has hired David O’Keefe of Bonne Bridges Mueller O’Keefe & Nichols, who could not be reached for comment.
When the California appeals court overturned the original jury decision, basing its decision on problems with the written instructions given the original jury, Mazzocone vowed to take the suit back to court. But now, several years and millions of dollars later, sources say Main Line is interested in settling.
The film, which was made with Sherilyn Fenn, is about a surgeon who cuts off a woman’s arms and legs in order to possess her.