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Film financier David Bergstein is looking to take control of Intermedia’s film library.
R Media Acquisitions, a company associated with Bergstein, filed a breach of contract suit Wednesday in Los Angeles Superior Court against the German film company Internationalmedia and its America subsidiaries. According to the complaint, Internationalmedia owes R Media nearly $8 million, plus interest and late fees, on loans it failed to repay. R Media claims it is now entitled to take possession of the film library, encompassing 60-70 titles, which Internationalmedia put up as collateral for the loans.
Internationalmedia turned to R Media in September when it needed funds to shoot Jan de Bont’s action film “Stopping Power,” which was to have starred John Cusack. The suit says that R Media made Internationalmedia a series of loans while taking over the film, which ultimately was shut down.
Internationalmedia CEO Konstantin Theoren resigned two weeks ago, and last week Internationalmedia filed for bankruptcy in Germany.
R Media claims that no one is running Intermedia, the company’s American subsidiary. It says that because no one is supervising the film library, it asks the court to appoint a receiver over Intermedia. (partialdiff)
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