BERLIN — Execs at German distrib Intertainment said Friday they were upbeat about arbitration proceedings against additional companies, including Comerica Bank and bond company Film Finances, in connection with its fraud case against Elie Samaha and Franchise Pictures.
Intertainment won a $122 million legal victory against Samaha and Franchise this summer over inflated budgets on a slate of films including “Get Carter” and “The Whole Nine Yards.”
Outgoing CEO Ruediger Baeres told shareholders at the company’s annual general meeting that he anticipated a successful outcome for Intertainment.
Arbitration is set to begin next year against Comerica and the other companies. Intertainment is demanding at least $100 million from Comerica and the bond companies. Baeres stressed that Intertainment had sufficient resources to continue operating and to pursue further litigation. At the end of September, Intertainment’s liquid assets amounted to $1.8 million compared to nearly $1.3 million at mid-year.