Comerica Bank Beats Intertainment in Long-Running Suit
Intertainment has to pay Comerica around $9 million in court costs.
COLOGNE, Germany – A California court has ruled in favor of Comerica Bank in a long-running suit filed against the Beverly Hills’ film financier by German company Intertainment.
The court ruled Intertainment had no claim for damages against Comerica and made the German group liable for the bank’s court costs, estimated to run to around $9 million.
Intertainment, once a film production and financing group, now exists solely to pursue a series of legal actions against companies in the U.S..
The group won a $122 million case against Elie Samaha’s Franchise Pictures when the court found that Samaha had deliberately inflated budgets on films that Intertainment co-financed. But so far, Intertainment has collected only a small portion of that cash.
Intertainment’s litigation against Comercia claimed the bank was also liable in Samaha’s fraud because it approved completion bonds based on Franchise’s dodgy budgets.