Netflix and Relativity Media have squashed what has been an almost four-year-long legal battle, allowing the embattled indie studio to move forward with its bankruptcy sale to UltraV Holdings.
Lawyers for both companies told U.S. Bankruptcy Court Judge Michael Wiles that they’ve agreed to broad terms of a wide-ranging settlement resolving a 2010 licensing deal that obligated Netflix to pay a premium rate to distribute Relativity’s films, according to The Wall Street Journal.
“Today’s settlement with Netflix resolves nearly four years of litigation and other disputes that threatened the value of the Relativity estate,” Colin Adams, Relativity’s chief restructuring officer, said in a statement to TheWrap. “The settlement helps preserve the value of the Relativity estate for creditors, paving the way for the asset sale to UltraV Group, and granting UltraV the unquestionable right to stream up to 30 films on Netflix. We look forward to closing...
Lawyers for both companies told U.S. Bankruptcy Court Judge Michael Wiles that they’ve agreed to broad terms of a wide-ranging settlement resolving a 2010 licensing deal that obligated Netflix to pay a premium rate to distribute Relativity’s films, according to The Wall Street Journal.
“Today’s settlement with Netflix resolves nearly four years of litigation and other disputes that threatened the value of the Relativity estate,” Colin Adams, Relativity’s chief restructuring officer, said in a statement to TheWrap. “The settlement helps preserve the value of the Relativity estate for creditors, paving the way for the asset sale to UltraV Group, and granting UltraV the unquestionable right to stream up to 30 films on Netflix. We look forward to closing...
- 8/2/2018
- by Trey Williams
- The Wrap
Relativity Media and Netflix have settled their dispute over a lucrative contract, clearing the way for the bankruptcy court supervised sale of the Hollywood studio.
Lawyers for both companies told U.S. bankruptcy court judge Michael Wiles that they have agreed to the terms of a settlement that would resolve disputes over the licensing deal, according to the Wall Street Journal.
“Today’s settlement with Netflix resolves nearly four years of litigation and other disputes that threatened the value of the Relativity estate,” Relativity’s Chief Restructuring Officer Colin Adams said in a statement to Deadline.
Last month, Relativity Media reached an agreement with its unsecured creditors, removing another significant obstacle to the planned bankruptcy sale. The studio declared bankruptcy for a second time in three years and announced it would sell its assets to its largest secured creditor, UltraV Holdings.
Under terms of the settlement announced today, Netflix would...
Lawyers for both companies told U.S. bankruptcy court judge Michael Wiles that they have agreed to the terms of a settlement that would resolve disputes over the licensing deal, according to the Wall Street Journal.
“Today’s settlement with Netflix resolves nearly four years of litigation and other disputes that threatened the value of the Relativity estate,” Relativity’s Chief Restructuring Officer Colin Adams said in a statement to Deadline.
Last month, Relativity Media reached an agreement with its unsecured creditors, removing another significant obstacle to the planned bankruptcy sale. The studio declared bankruptcy for a second time in three years and announced it would sell its assets to its largest secured creditor, UltraV Holdings.
Under terms of the settlement announced today, Netflix would...
- 8/2/2018
- by Dawn C. Chmielewski
- Deadline Film + TV
A bankruptcy judge ordered Netflix to pay more than $800,000 in attorney’s fees to Ryan Kavanaugh’s embattled studio Relativity Media after a legal battle the studio fought with the streaming giant over much of the past year relating to the latter’s plan to stream Relativity films “Masterminds” and “The Disappointments Room” without waiting for their theatrical release. U.S. bankruptcy judge Michael Wiles ruled that Netflix was obligated to pay Relativity a total of $818,547.48, consisting of $795,732.50 in reasonable attorneys’ fees and $22,814.98 in litigation expenses. However, the judge did not order the streaming giant to pay for fees and.
- 3/23/2017
- by Matt Pressberg
- The Wrap
Netflix has been ordered by a federal judge to pay Relativity more than $800,000 in attorney’s fees and expenses in the wake of the legal battle that Ryan Kavanaugh’s embattled company waged with the streaming service throughout most of the past year.
Michael Wiles, the U.S. bankruptcy judge who oversaw Relativity’s Chapter 11 bankruptcy last year, ordered Netflix to pay $795,733 in attorney’s fees and another $22,815 in litigation expenses to Relativity, which was represented by the firm of Jones Day, but he didn’t award any fees or expenses to Kavanaugh, who was personally represented by Skadden, Arps, Slate, Meagher...
Michael Wiles, the U.S. bankruptcy judge who oversaw Relativity’s Chapter 11 bankruptcy last year, ordered Netflix to pay $795,733 in attorney’s fees and another $22,815 in litigation expenses to Relativity, which was represented by the firm of Jones Day, but he didn’t award any fees or expenses to Kavanaugh, who was personally represented by Skadden, Arps, Slate, Meagher...
- 3/22/2017
- by Gregg Kilday
- The Hollywood Reporter - Movie News
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