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
