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Franchise Pictures and Sidonian Holdings

Intertainment filed a lawsuit against the former CEO of US film producer Franchise Pictures and the production company Sidonian Holdings. In the trial, the two defendants along with 15 further production companies had been found guilty of fraud and Intertainment was awarded damages totaling $121.7 million. However, most of the companies filed for bankruptcy protection. Sidonian Holdings and Elie Samaha of Franchise Pictures agreed to pay $3 million to Intertainment and transferred ownership interest of 100 film production and film distribution companies. (Aug-20-06) [FINANCIAL NEWSROOM]


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Published on Aug-21-06


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