Paramount has signed Timothy Hutton to star opposite Queen Latifah and LL Cool J in its remake of “Last Holiday,” directed by Wayne Wang.He’ll portray the villain Kragen. Production began last month in New Orleans. “Last Holiday” is an update of the 1950 comedy starring Alec Guinness, with Latifah portraying a shy sales clerk who takes off for a European vacation after learning she has a terminal illness. Gerard Depardieu and Giancarlo Esposito also star. Laurence Mark (“I, Robot”) and Imagemovers partner Jack Rapke are producing; VP Marc Evans oversees for Paramount.