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Entertainment Quentin Tarantino Wants to Block Weinstein Co.'s Sale to Lantern Entertainment, Over Unpaid Royalties

00:56  10 july  2018
00:56  10 july  2018 Source:   thewrap.com

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Quentin Tarantino , the long-time Weinstein Co . collaborator, filed an objection in Delaware bankruptcy court on Monday in an attempt to block to the studio’ s updated sale to Lantern Entertainment . The objection was filed along with Visiona Romantica, Inc., Jackboot, Inc., Brown 26

The company hopes to win court approval for the sale to Lantern Capital on Wednesday and close In Tarantino ’ s case, the director claims he is owed .3 million in unpaid royalties and profit His attorneys say they have been seeking a resolution with Lantern and the Weinstein Co . for the past

Quentin Tarantino smiling for the camera© TheWrap

Quentin Tarantino, the long-time Weinstein Co. collaborator, filed an objection in Delaware bankruptcy court on Monday in an attempt to block to the studio's updated sale to Lantern Entertainment.

Tarantino said in a filing that TWC failed to meet the certain requirements under agreements he had for his films "Death Proof," "Inglourious Basterds," "Django Unchained," and "The Hateful Eight" — including not being paid $4.3 million in royalties and participations.

The objection was filed along with Visiona Romantica, Inc., Jackboot, Inc., Brown 26 Productions, Supercool Manchu Too, L. Driver Productions, Inc. and Cine-Manic Productions, Inc.

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Quentin Tarantino , the long-time Weinstein Co . collaborator, filed an objection in Delaware bankruptcy court on Monday in an attempt to block to the studio’ s updated sale to Lantern Entertainment . Tarantino said in a filing that TWC failed to meet the certain requirements under

Lantern Entertainment officially bought the remnants of the Weinstein Co . in July for 9 million. Tarantino was one of at least 100 Weinstein counterparties who filed objections to the sale , alleging that they were owed The agreement allows Lantern to collect ancillary revenues from the three films.

Tarantino is attempting to block TWC's sale to Lantern until he's paid what he says he's owed. He said he's been trying to work with TWC and Lantern to resolve the dispute, but to no avail.

TWC, Lantern and the unsecured creditor's committee — which represents, among others, accusers of former TWC head Harvey Weinstein — agreed to new sale terms that cut the price to $289 million from $310 million, instead of to a previously proposed $287 million.

"The resolution also includes, among other things, Lantern's agreement to make numerous cure payments for contracts it is assuming in the sale — an issue that was important in resolving the concerns of unsecured creditors," TWC said in a statement at the time.

Tarantino objects to TWC and Lantern's amended purchase agreement, which would grant Lantern control of the contracts he has with TWC without needing to resolve current defaults or get his consent.

Tarantino called the purchase agreement "highly prejudicial," saying that under the new agreement Lantern would gain the right "to determine if, and when, to comply with the requirements of section 365 of the Bankruptcy Code, which places a substantial burden on the Tarantino Parties due to the uncertainty of the future exploitation and the payment of revenues the Tarantino Parties may earn from the [Tarantino and TWC] Films."

Pamela Chelin contributed to this report.

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