Court names receiver for Intermedia
R Media seeks ownership of Intermedia film libraryBERLIN -- Film financier David Bergstein got a step closer to Intermedia's film library after the Los Angeles Superior Court approved his motion to appoint a receiver, William Shpall, to manage the German company's assets.
R Media Acquisitions, a company associated with Bergstein, has filed a suit against Intermedia and German parent IM Internationalmedia, alleging that they owe it nearly $8 million in unpaid loans. R Media says it is now entitled to Intermedia's film library, comprising 60-70 titles, which Internationalmedia put up as collateral for the loans.
R Media helped Internationalmedia bankroll the planned Jan de Bont action film "Stopping Power.'" But the film, which had John Cusack attached to star, never got off the ground and was ultimately shut down.
Internationalmedia CEO Konstantin Theoren resigned in August and the company quickly filed for bankruptcy. Intermedia has been without a boss ever since.