Aramid, Screen Capital, David Molner Sued By Ronald Tutor, Library Asset Co.

In yet another kink in the legal tangle involving former companies associated with finanancier David Bergstein, investor Ronald Tutor and Library Asset Acquisition Co. filed suit today in Los Angeles Superior Court against Aramid Entertainment, Screen Capital International Corp, Aramid Capital Partners Chairman David Molner and others. Tutor — one of a group of investors who bought Miramax from Disney in 2010 — contends that despite the complexity, the issue boils down to “a rather simple case of breach of contract, the contract being a written release agreement.” (You can read the colorfully worded lawsuit here.) The suit involves loans or loan guarantees made by Tutor for some of Bergstein’s former motion picture assets. Library Asset Acquisition Co. and Tutor contend Aramid, Screen Capital, Molner and others with interest in the properties guaranteed by the loans, according to the lawsuit “commenced a scorched-earth battle with Bergstein and Tutor” filing lawsuits and claims in various courts despite having “already released the claims that made up the lion’s share of the legal basis for the various suits and petitions.” Molner responded to Deadline that “this is part of Tutor and Bergstein’s pay-as-you-go strategy, filing lawsuits instead of admitting what they did. Everyone in town sees through it but them. In the end they will fail as miserably with this strategy as they did with their forays into production and distribution.” Related: David Bergstein Reaches Miramax Deal, Drops His Own Lawsuit David Bergstein Sues ... Read More »

Source: http://www.deadline.com/2012/05/aramid-screen-capital-david-molner-sued-by-ronald-tutor-library-asset-co/

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