Seven Arts is sued by financier

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A Massachusetts film financing company has filed suit in New York federal court against Seven Arts Pictures and its president, Peter Hoffman, claiming it is owed at least $3.4 million in foreign distribution rights for the 2003 crime drama "I'll Sleep When I'm Dead."

According to the lawsuit filed Nov. 20, RMM Group owns all distributions rights to the film, which stars Clive Owen and Jonathan Rhys Meyers, for 15 years, pursuant to an April 2002 agreement with the movie's producer, Will & Co.

Under the distribution agreement, Seven Arts was to deposit all gross profits for the film into an account in New York. Minus Seven Arts' percentage, the remainder went to RMM. The contract called for Seven Arts to pay a minimum of $4 million in exchange for all foreign distribution rights by January 2006, according to the suit.

But RMM claims it has only received $559,000 to date and that Seven Arts owes it another $3.4 million. The film has grossed $360,759 domestically and $130,205 internationally.

Hoffman, named as a defendant in the suit, could not be reached for comment.
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