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Film Funder Fights To Force Insurers To Pay $18M Guarantee
Law360, London (May 19, 2021, 5:56 PM BST) A movie financier urged an appeals court on Wednesday to overturn a ruling allowing Allianz and other insurers to avoid paying millions under a completion guarantee, saying a contract clause requiring the film to be delivered in three days was ambiguous.
The investor backing Starbright, Larkhark Films Limited, along with two distributors, are fighting a High Court judge s determination that the defendants had not returned certain components of the movie soon enough when they had quality concerns. As a result, the film had in effect been delivered, per the terms of a 2016 completion guarantee between the insurers and the film.