October 31, 2018 / 11:35 PM / 9 months ago

First Republic takes on bankrupt Weinstein Co over 'Polaroid' loan

First Republic is asking for a court order lifting the Weinstein Co’s bankruptcy stay on litigation so it can begin marketing or sue to enforce rights and other collateral on a loan it pledged to help the film studio produce the upcoming supernatural thriller “Polaroid.”

The bank in a filing on Tuesday in U.S. Bankruptcy Court in Delaware said the Weinstein Co owes it roughly $5.4 million on the April 2017 credit agreement for the movie project. Its collateral includes copyrights for the project and about $1.1 million the studio paid First Republic as security.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2P3ALPA

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