The Weinstein Co. has agreed to pay $2 million to settle a dispute with a director, but it hasn’t yet written the first check — which could mean one more party will line up to collect a debt if the distributor declares bankruptcy as it has signaled it would.
David Frankel in 2016 sued TWC for fraud, claiming the distributor buried his film One Chance after agreeing to a wide release. The James Corden-led film, based on the story of Britain’s Got Talent star Paul Potts, was released on 43 screens and brought in only $100,000 at the domestic box office in 2014. (Global box-office sales exceeded $10 million.)
Los Angeles County Superior Court Judge Nancy Newman on Wednesday issued a judgment pursuant to a joint stipulation.
The parties in the fall reached key terms of a settlement, under which TWC would pay Frankel $1.5 million within eight weeks followed by another $500,000 within the following year. The stipulated judgment, which is posted below, was filed because TWC failed to make the first payment on time.