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Legal Fee Financing

Entertainment litigation complex, rancorous and multi-dimensional

Maybe they should make a movie featuring the below-cited subject matter, which relates centrally to, well, movies.

In fact, the emerging details spotlighting the realm of film financing seemingly have all the requisite drama and passion that are central to many fine cinema offerings, and they additionally have this core component that renders them quite compelling and singular: the story they pertain to has real people playing reality-based roles, with consequences in play that are anything but fictional.

Although it's all a bit complicated, the essentials in a tale of escalating film-based acrimony come down to this: finger pointing from multiple individuals at a film financing company they allege has negligently mismanaged many millions of dollars, breached multiple contracts and engaged in investor fraud.

That company is embattled Worldview Entertainment, which is closely linked with many notable films, including last year's Academy Award winner Birdman.

First the company's ex-CFO sued it, claiming he was owed nearly $3 million from a termination agreement. Then the former CEO joined the action by filing a $55 million lawsuit against Worldview, alleging various acts of malfeasance.

And then major investor Sarah Johnson stepped in, dwarfing those claims with a demand of $70 million she claims she should receive for Worldview wrongdoing across a broad spectrum.

Among other things, Johnson's complaint alleges that Worldview principals engaged in a pattern of fraudulent representations regarding her investments and the return she would earn on them. The filing additionally contends that Worldview materially breached multiple contracts, including one mandating that film profits would be first apportioned among investors before being applied elsewhere.

Johnson claims that company executives never let her scrutinize Worldview's financial documents. All told, her lawsuit alleges 28 counts of mismanagement on the part of Worldview.

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