Oil executives have been reveling in all of the access and influence they now have because President Donald Trump is in office. A recording of a meeting of the Independent Petroleum Association of America (Ipaa) obtained by Reveal from The Center for Investigative Reporting shows executives bragging about how they can affect change in both Interior Department and Environmental Protection Agency regulations after their former lawyer, David Bernhardt, was nominated to be the number two official at Interior.
“We know [Berndardt] very well, and we have direct access to him, have...
“We know [Berndardt] very well, and we have direct access to him, have...
- 3/23/2019
- by Peter Wade
- Rollingstone.com
Federal bankruptcy court Judge Barry Russell dismissed the remaining claims on March 5 against R2D2 and other movie companies, including ThinkFilm, that were controlled by David Bergstein and Ronald Tutor, which had been brought by Screen Capital International, run by David Molner, acting for creditors and on behalf of the court-appointed trustee overseeing the bankrupt movie companies. Russell ruled that a 2009 waiver related to payment of $2.9 million to satisfy a ThinkFilm loan by the Aramid Entertainment Fund, where Molner is also a manager, meant that Sci had no right to bring claims in the involuntary bankruptcy
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- 3/7/2014
- by Alex Ben Block
- The Hollywood Reporter - Movie News
Embattled financier David Bergstein won a legal victory when federal bankruptcy court Judge Barry Russell dismissed the last in a series of lawsuits brought by Screen Capital International Corp. acting on behalf of the bankruptcy trustee. It was one of eight cases that personally named Bergstein and his former partner in the movie business, Ronald Tutor, as defendants. This latest ruling, which came Dec. 12, is significant because it may mark the collapse of a plan by Scic and the Aramid Entertainment Fund to act on behalf of the court-appointed trustee, Ronald Durkin, to find assets and unlock any
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- 12/24/2013
- by Alex Ben Block
- The Hollywood Reporter - Movie News
Judge Barry Russell has refused to recuse himself from the involuntary bankruptcy case involving ThinkFilm and four other companies formerly run by David Bergstein. On Nov. 14, in federal court in downtown Los Angeles, Russell dismissed a motion asking him to step aside. A group of creditors in the three-year-old case led by David Molner and Screen Capital International had filed court papers asking Russell to step aside from the case after a tape-recorded phone conversation between Bergstein and his former business associate Paul Parmar was made public. In the tape, Bergstein is heard telling Parmar that
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- 11/19/2013
- by Alex Ben Block
- The Hollywood Reporter - Movie News
Just when it seems like the legal battle between film financiers David Molner and David Bergstein can’t get any nastier, these two mortal enemies find fresh ways to up the ante on outrage. In a motion filed Monday in Los Angeles Bankruptcy Court, attorneys for Molner’s Screen Capital International and Aramid Entertainment are asking for Judge Barry Russell to recuse himself from a case involving tens of millions of dollars in debts and allegations of financial fraud. The legal back-and-forth between the two men has dragged on since five Bergstein-controlled film financing entities were forced into involuntary bankruptcy in 2010. Also.
- 10/1/2013
- by Brent Lang
- The Wrap
The lead creditors locked in a bankruptcy battle with film financier David Bergstein want the federal judge running the case to recuse himself after The Hollywood Reporter posted covertly recorded audio of Bergstein planning to exploit information about the judge's alleged predilection for prostitutes. Aramid Entertainment Fund and Screen Capital International, lead creditors in the long-running involuntary bankruptcy cases involving Capitol, ThinkFilm and three other companies, filed the motion on Monday. They're asking federal Judge Barry Russell to effectively remove himself from the case. "Bergstein is heard on the tape accusing Judge Russell of illegal personal conduct," reads
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- 9/30/2013
- by Alex Ben Block
- The Hollywood Reporter - Movie News
After three years of legal battles in bankruptcy court, Ronald Tutor and his former partner in the movie business David Bergstein have won an important legal victory that appears to open the door for Tutor to finally sell more than 500 movies that have been frozen for months by a legal injunction including The Whole Ten Yards, Woody Allen’s Sweet And Lowdown, Crouching Tiger, Hidden Dragon and the Oscar-winning documentary Taxi To The Darkside. On Monday in Los Angeles, federal Judge Barry Russell issued a final order dismissing complaints for fraudulent transfer of movies and other things by four
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- 7/24/2013
- by Alex Ben Block
- The Hollywood Reporter - Movie News
Embattled movie investor David Bergstein has lost another of his many appeals in the bankruptcy case involving Capitol, ThinkFilm and three other movie companies – and this time the denial came with a stern warning from the judge. On May 22, U.S. District Court Judge Philip Gutierrez denied Bergstein’s motion to reverse a lower court ruling that denied him the right to pursue litigation claims on behalf of the bankrupt companies. That original ruling was made by federal Judge Barry Russell in Los Angeles on November 8. Photos: Top 10 Legal Disclaimers in Hollywood Russell had denied Bergstein’s request
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- 5/29/2013
- by Alex Ben Block
- The Hollywood Reporter - Movie News
Bankruptcy judge Barry Russell delivered a serious blow to the Aramid Entertainment Fund's case against Miramax co-owner Ronald Tutor and film financier David Bergstein this week, issuing five orders that disallow most of Aramid's claims to upwards of $140 million. Aramid and other creditors have been engaged in a protracted legal dispute with Tutor (pictured left), his former business partner and several of their companies. Tutor, a construction tycoon, is co-owner of Miramax and other film properties. Also read: Miramax Co-Owner Ron Tutor Looking to Sell Film Assets (Updated) Aramid was seeking money for...
- 6/22/2012
- by Lucas Shaw
- The Wrap
Miramax co-owner Ronald Tutor claimed victory this week in his legal battle with Aramid Entertainment Fund and other creditors fighting over the remains of five film companies forced into involuntary bankruptcy last year -- Capitol Films, ThinkFilm, R2D2, Ct-1 and Capco. Federal bankruptcy court Judge Barry Russell has issued five orders (one for each bankrupt company) that disallow unsecured claims by Aramid totaling about $143 million. Many of the orders were tied to a Rico claim that charged Tutor and his former business partner David Bergstein committed fraud and operated a Ponzi scheme to defraud lenders and investors.
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- 6/22/2012
- by Alex Ben Block
- The Hollywood Reporter - Movie News
A federal judge has granted bankruptcy trustee Ronald Durkin’s request to waive attorney client-privilege and release 14 emails relating to the involuntary bankruptcy cases of Capitol, Thinkfilm, R2D2 and other companies connected to embattled movie financier David Bergstein. On Thursday, Judge Barry Russell authorized the immediate release of the potentially damaging email exchanges between Bergstein and his lawyers. The reason the emails may be damaging is, according to the filing, that they go to the heart of the trustee’s assertion that Bergstein’s primary financial backer, construction executive Ronald Tutor, was actually an “insider” in the businesses in a legal
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- 2/18/2012
- by Alex Ben Block
- The Hollywood Reporter - Movie News
Alex Ben Block
Score a victory for Ronald Durkin, the trustee in the involuntary bankruptcy case involving Capitol, ThinkFilm and three other companies that were run by David Bergstein. On Wednesday, federal Judge Barry Russell granted the trustees motion to take control of Pangea Media Group, a company that Bergstein ran until it shut its doors earlier this year. Photos: 9 Highest Paid Entertainment CEOs This is the first big victory for the trustee after several setbacks. The judge had earlier this year refused to allow Durkin to consolidate a number of the subsidiaries related to the bankrupt companies, which frustrated the trustee’s
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Score a victory for Ronald Durkin, the trustee in the involuntary bankruptcy case involving Capitol, ThinkFilm and three other companies that were run by David Bergstein. On Wednesday, federal Judge Barry Russell granted the trustees motion to take control of Pangea Media Group, a company that Bergstein ran until it shut its doors earlier this year. Photos: 9 Highest Paid Entertainment CEOs This is the first big victory for the trustee after several setbacks. The judge had earlier this year refused to allow Durkin to consolidate a number of the subsidiaries related to the bankrupt companies, which frustrated the trustee’s
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- 12/1/2011
- by Alex Ben Block
- The Hollywood Reporter - Movie News
Bankruptcy Court Judge Barry Russell has decided to unseal the findings of bankruptcy trustee Ronald L. Durkin in the matter of embattled film financier David Bergstein. The decision was rendered during a status conference held in the judge's chambers today. This is the 408-page document that was initially made public but then sealed after protests by Bergstein. It's a very long document, but for those who have some time on their hands and an interest in seeing what Durkin came up with after his painstaking investigation, here you go.
- 4/21/2011
- by MIKE FLEMING
- Deadline
Tomorrow brings the latest chapter in the drama over whether the exhaustive findings by bankruptcy court trustee Ronald L. Durkin should once again be made public in the case involving film financier David Bergstein and his creditors. A status conference before Bankruptcy Court Judge Barry Russell tomorrow at 2 Pm may well decide whether the painstaking 371-page document (not including 21 volumes of exhibits) are once again approved for public consumption. They paint a damning picture of Bergstein, starting with the deletion of computer emails and an unwillingness to hand over computers for forensic analysis. There is also an unflattering portrait of Ronald Tutor, the billionaire owner of Miramax Films whose position at the front of the line of creditors could be called into question as a result of Durkin's findings. Russell ordered the documents to be unsealed, but then they were quickly re-sealed following a motion filed by Bergstein to keep them private.
- 4/19/2011
- by MIKE FLEMING
- Deadline
In the midst of the federal involuntary bankruptcy case against five companies controlled by David Bergstein, the lead creditor and driving force in bringing the case was hit with a lawsuit that raised troubling questions and allegations.
The suit, filed Sept. 2, was a direct attack on the credibility, character and business practices of David Molner; his company, Screen Capital International; and Aramid Capital Partners, an offshoot of a Cayman Islands fund. It was brought by Wimbledon Financing Master Fund, Wfm Holdings and Stillwater Market Neutral Fund, all described as investors in Aramid Entertainment Fund.
When the suit was filed, there was a blast of publicity about Molner allegedly having used the Aramid fund as his “personal piggy bank” to defraud investors and that he had launched his “frivolous” efforts to foment the involuntary bankruptcy case against Bergstein and his business partner, Ronald Tutor, to divert attention from his own wrongdoing.
The suit, filed Sept. 2, was a direct attack on the credibility, character and business practices of David Molner; his company, Screen Capital International; and Aramid Capital Partners, an offshoot of a Cayman Islands fund. It was brought by Wimbledon Financing Master Fund, Wfm Holdings and Stillwater Market Neutral Fund, all described as investors in Aramid Entertainment Fund.
When the suit was filed, there was a blast of publicity about Molner allegedly having used the Aramid fund as his “personal piggy bank” to defraud investors and that he had launched his “frivolous” efforts to foment the involuntary bankruptcy case against Bergstein and his business partner, Ronald Tutor, to divert attention from his own wrongdoing.
- 2/25/2011
- The Hollywood Reporter - Movie News
David Bergstein may finally be out of options and time. Citing a "willful failure to comply," Federal Court Judge Barry Russell placed the three remaining companies run by the controversial film financier into bankruptcy on Wednesday. There will be no further trial, and the companies' assets will be liquidated to pay off the over 30 creditors currently suing Bergstein for millions of dollars in unpaid bills. "This is a total vindication for my company and all its investors and the number of small creditors who had the guts to stand up to...
- 2/10/2011
- by Brent Lang
- The Wrap
A federal judge Wednesday granted a motion to place the three remaining companies run by David Bergstein into bankruptcy without any further discussion or a trial. Judge Barry Russell said there had been a "willful failure to comply" with his previous court orders to produce information relating to the case and that it was clear to him Bergstein would never comply.
So the three remaining entities in the involuntary bankruptcy filed in March 2010 have been placed in bankruptcy. They are R2D2, Ct-1 Holdings and Capco. Two other companies had been forced into bankruptcy late last year.
All three will now be administered by the trustee appointed by the judge previously. All of their assets will be sold or liquidated to achieve the maximum return.
This means the film libraries from Thinkfilm, Franchise Film, Coamerica and others, adding up to more than 1,300 movies, will be sold or otherwise disposed of as soon as practical.
So the three remaining entities in the involuntary bankruptcy filed in March 2010 have been placed in bankruptcy. They are R2D2, Ct-1 Holdings and Capco. Two other companies had been forced into bankruptcy late last year.
All three will now be administered by the trustee appointed by the judge previously. All of their assets will be sold or liquidated to achieve the maximum return.
This means the film libraries from Thinkfilm, Franchise Film, Coamerica and others, adding up to more than 1,300 movies, will be sold or otherwise disposed of as soon as practical.
An attorney for David Bergstein is asking the federal bankruptcy court in Los Angeles to stop its court-appointed trustee overseeing five companies Bergstein controlled from getting records relating to his financial transactions with the Mandalay Bay Resort and Casino.
Separately, an attorney for the bankruptcy court trustee, Ronald Durkin, filed a motion to force a former Bank of America branch manager to testify and produce documents related to dozens of accounts that Bergstein, his related entities and associates had at a branch in Newbury Park, Calif.
The filing made Wednesday by Bergstein charges Durkin with violating a court confidentiality order by summarizing information about his business with Mandalay in a public court filing. "The disclosure of private information to the public is precisely what the confidentiality order was intended to prevent," Bergstein charges.
The transactions involving Mandalay Bay have been reported as involving large gambling debts and interest charges --...
Separately, an attorney for the bankruptcy court trustee, Ronald Durkin, filed a motion to force a former Bank of America branch manager to testify and produce documents related to dozens of accounts that Bergstein, his related entities and associates had at a branch in Newbury Park, Calif.
The filing made Wednesday by Bergstein charges Durkin with violating a court confidentiality order by summarizing information about his business with Mandalay in a public court filing. "The disclosure of private information to the public is precisely what the confidentiality order was intended to prevent," Bergstein charges.
The transactions involving Mandalay Bay have been reported as involving large gambling debts and interest charges --...
- 10/7/2010
- by By Alex Ben Block
- The Hollywood Reporter - Movie News
Eight months after they became the subject of an involuntary insolvency action brought by a group of creditors, indie movie distributors ThinkFilm and Capitol Film have been put into formal bankruptcy.
Federal bankruptcy court Judge Barry Russell, clearly frustrated with the pace of the case and the lack of cooperation from the debtors led by Pangea Media Group CEO David Bergstein, on Wednesday granted two motions for summary judgment against ThinkFilm and Capitol Films without any opposition from the other side.
The involuntary bankruptcy cases brought by the same creditors group against three other companies controlled by Bergstein -- Capco, Ct-1 Holdings and R2D2 -- were continued to Nov. 10 and remain on track to go to trial.
Interim trustee Ronald Durkin, a former FBI agent and forensic accountant, will now become the bankruptcy trustee of Thinkfilm and Capitol Film, which means he will have greatly expanded authority over those entities.
Federal bankruptcy court Judge Barry Russell, clearly frustrated with the pace of the case and the lack of cooperation from the debtors led by Pangea Media Group CEO David Bergstein, on Wednesday granted two motions for summary judgment against ThinkFilm and Capitol Films without any opposition from the other side.
The involuntary bankruptcy cases brought by the same creditors group against three other companies controlled by Bergstein -- Capco, Ct-1 Holdings and R2D2 -- were continued to Nov. 10 and remain on track to go to trial.
Interim trustee Ronald Durkin, a former FBI agent and forensic accountant, will now become the bankruptcy trustee of Thinkfilm and Capitol Film, which means he will have greatly expanded authority over those entities.
- 10/6/2010
- by By Alex Ben Block
- The Hollywood Reporter - Movie News
The interim trustee appointed by the federal bankruptcy court to oversee and report on Thinkfilm and four other companies controlled by Pangea Media CEO David Bergstein has filed his third status report, which concludes that he may never get all of the information he has been seeking. "It is doubtful whether David R. Bergstein will ever provide complete and adequate information," said Ronald Durkin, the former FBI agent and forensic accountant appointed for the involuntary Chapter 11 bankruptcy action.
Although federal judge Barry Russell on July 28 designated Bergstein as the representative of the companies that creditors want to force into bankruptcy, Durkin reports that Bergstein "has still failed to provide an inventory of the (companies) assets or allow" Durkin to copy information from the computer he personally uses or that of his assistant Frymi Biedak.
The report said Bergstein told Durkin much of the information from those computers is available on...
Although federal judge Barry Russell on July 28 designated Bergstein as the representative of the companies that creditors want to force into bankruptcy, Durkin reports that Bergstein "has still failed to provide an inventory of the (companies) assets or allow" Durkin to copy information from the computer he personally uses or that of his assistant Frymi Biedak.
The report said Bergstein told Durkin much of the information from those computers is available on...
- 9/27/2010
- by By Alex Ben Block
- The Hollywood Reporter - Movie News
David Bergstein's legal battles have heated up in separate court actions on two continents.
The newest creditor joining the fray in U.S. Bankruptcy Court in Los Angeles is the Internal Revenue Service, which has filed a claim for $432,724.30 in unpaid business taxes against Capco, one of the five Bergstein companies that creditors are trying to force into bankruptcy.
Court-appointed interim trustee Ronald Durkin has said in previous court-mandated reports that Bergstein has not paid all payroll or other business taxes on his companies for the past couple of years -- or personal income taxes for three years.
The IRS claim is likely to take precedence over unpaid debts held by more than 30 other creditors.
Eight of those creditors this week filed a motion for a summary judgment in the ThinkFilm case, which would mean immediately forcing that entity into bankruptcy. In that filing, the creditors say it is...
The newest creditor joining the fray in U.S. Bankruptcy Court in Los Angeles is the Internal Revenue Service, which has filed a claim for $432,724.30 in unpaid business taxes against Capco, one of the five Bergstein companies that creditors are trying to force into bankruptcy.
Court-appointed interim trustee Ronald Durkin has said in previous court-mandated reports that Bergstein has not paid all payroll or other business taxes on his companies for the past couple of years -- or personal income taxes for three years.
The IRS claim is likely to take precedence over unpaid debts held by more than 30 other creditors.
Eight of those creditors this week filed a motion for a summary judgment in the ThinkFilm case, which would mean immediately forcing that entity into bankruptcy. In that filing, the creditors say it is...
- 8/26/2010
- by By Alex Ben Block
- The Hollywood Reporter - Movie News
There is a tiny spark of life left in Harvey and Bob Weinstein's dream of reclaiming Miramax Films, the movie brand they named after their mother and father, but the light is flickering.
For the Weinsteins to succeed requires two things that appear unlikely at this moment: The current leading bidders, Colony Capital and Ronald Tutor, must falter; and Disney must take a lower price, which it hasn't been willing to do in months of talks so far.
Disney has made it clear it values Miramax at $700 million. The winning Tutor/Colony offer was $675 million, according to sources. The Weinsteins' last offer with investor Ron Burkle, which Disney declined, was $565 million. Other investors were spurned who offered about $550 million.
It seemed the brothers' final spark might have been extinguished Friday when the New York Post reported that Fortress Investments, another financial backer, was "out of the picture."
The lead on the Post story said,...
For the Weinsteins to succeed requires two things that appear unlikely at this moment: The current leading bidders, Colony Capital and Ronald Tutor, must falter; and Disney must take a lower price, which it hasn't been willing to do in months of talks so far.
Disney has made it clear it values Miramax at $700 million. The winning Tutor/Colony offer was $675 million, according to sources. The Weinsteins' last offer with investor Ron Burkle, which Disney declined, was $565 million. Other investors were spurned who offered about $550 million.
It seemed the brothers' final spark might have been extinguished Friday when the New York Post reported that Fortress Investments, another financial backer, was "out of the picture."
The lead on the Post story said,...
- 7/25/2010
- by By Alex Ben Block
- The Hollywood Reporter - Movie News
David Bergstein and Ronald Tutor will have to start talking, a federal bankruptcy court judge ruled Tuesday.
Judge Barry Russell swept aside objections to the way his court-appointed trustee is proceeding in the involuntary bankruptcy case against five companies controlled by Bergstein, granting almost all of the requests to force depositions and presentation of evidence in the case.
Bergstein, his assistant/bookkeeper and his sometime partner Tutor were all ordered to give depositions under oath, and provide the interim trustee, Ronald Durkin, the documents he has requested, and make their personal and business computers available to be copied and examined.
"There's been an incredible lack of understanding about what I did when I appointed (the interim trustee to oversee the companies involved)," said Judge Russell early in a two-hour hearing in federal court in downtown Los Angeles. "I'm disappointed....I indicated I expected full cooperation and it hasn't happened. The positions taken are disappointing.
Judge Barry Russell swept aside objections to the way his court-appointed trustee is proceeding in the involuntary bankruptcy case against five companies controlled by Bergstein, granting almost all of the requests to force depositions and presentation of evidence in the case.
Bergstein, his assistant/bookkeeper and his sometime partner Tutor were all ordered to give depositions under oath, and provide the interim trustee, Ronald Durkin, the documents he has requested, and make their personal and business computers available to be copied and examined.
"There's been an incredible lack of understanding about what I did when I appointed (the interim trustee to oversee the companies involved)," said Judge Russell early in a two-hour hearing in federal court in downtown Los Angeles. "I'm disappointed....I indicated I expected full cooperation and it hasn't happened. The positions taken are disappointing.
- 7/20/2010
- by By Alex Ben Block
- The Hollywood Reporter - Movie News
Hollywood's major talent guilds object to a motion by David Bergstein to operate his businesses without interference from Ronald Durkin, the court-appointed trustee overseeing five of his companies that are the subject of an involuntary insolvency action.
In a filing Wednesday in U.S. bankruptcy court, the DGA, SAG, WGA West, their affiliate pension and health plans and the Motion Picture Industry Pension and Health Plans wrote to federal Judge Barry Russell that "the need for an independent agent of the court has not disappeared" and "the evidence of unpaid debt has only increased since ... the involuntary petitions" were filed March 17.
The guilds said the Bergstein companies (the debtors), "have engaged in a practice of gamesmanship, preventing the trustee's investigation by rendering essential information and witnesses unavailable. In sum, there has been no material change ... except the debtors have proven they will not voluntarily cooperate with the trustee's investigation."
The...
In a filing Wednesday in U.S. bankruptcy court, the DGA, SAG, WGA West, their affiliate pension and health plans and the Motion Picture Industry Pension and Health Plans wrote to federal Judge Barry Russell that "the need for an independent agent of the court has not disappeared" and "the evidence of unpaid debt has only increased since ... the involuntary petitions" were filed March 17.
The guilds said the Bergstein companies (the debtors), "have engaged in a practice of gamesmanship, preventing the trustee's investigation by rendering essential information and witnesses unavailable. In sum, there has been no material change ... except the debtors have proven they will not voluntarily cooperate with the trustee's investigation."
The...
- 7/14/2010
- by By Alex Ben Block
- The Hollywood Reporter - Movie News
Movie exec David Bergstein is on the offensive against a creditor's efforts to force five of his companies into insolvency, but federal bankruptcy court Judge Barry Russell is in no rush to agree to his demands.
On Friday, the judge sided with a creditor when he issued an order putting off until Oct. 6 a hearing on Bergstein's motion to force Aramid to put up a $25 million bond in case it loses and has to pay damages. While Russell did not quash the motion outright, he agreed to a request by Screen Capital International -- a creditor run by David Molner, who also works with Aramid -- for the unusually long delay, which should be enough time to determine the ultimate course of the case.
The judge also put off until July 28 another motion that would allow Bergstein to operate the five businesses as he normally does. Bergstein's attorney had filed motions showing that his businesses,...
On Friday, the judge sided with a creditor when he issued an order putting off until Oct. 6 a hearing on Bergstein's motion to force Aramid to put up a $25 million bond in case it loses and has to pay damages. While Russell did not quash the motion outright, he agreed to a request by Screen Capital International -- a creditor run by David Molner, who also works with Aramid -- for the unusually long delay, which should be enough time to determine the ultimate course of the case.
The judge also put off until July 28 another motion that would allow Bergstein to operate the five businesses as he normally does. Bergstein's attorney had filed motions showing that his businesses,...
- 7/2/2010
- by By Alex Ben Block
- The Hollywood Reporter - Movie News
Embattled Pangea Media Group CEO David Bergstein has again taken the offensive against the creditors who brought an involuntary bankruptcy action against him in federal court in Los Angeles.
In a series of legal filings, Bergstein and allies are not only contesting the facts presented by creditors behind the action, but they are demanding that Aramid Capital Partners, which has been a leader among the creditors, put up a $25 million bond so that Bergstein's companies can collect damages should he prevail in court.
Bergstein charged in his personal declaration that Aramid is an offshore company with no real assets in the U.S., so if it loses and has to pay costs, it would be impossible to collect.
Bergstein also said in his filing that David Molner, who is chairman of Aramid, brought the action because he was angry when Bergstein would not modify his loans -- which were at...
In a series of legal filings, Bergstein and allies are not only contesting the facts presented by creditors behind the action, but they are demanding that Aramid Capital Partners, which has been a leader among the creditors, put up a $25 million bond so that Bergstein's companies can collect damages should he prevail in court.
Bergstein charged in his personal declaration that Aramid is an offshore company with no real assets in the U.S., so if it loses and has to pay costs, it would be impossible to collect.
Bergstein also said in his filing that David Molner, who is chairman of Aramid, brought the action because he was angry when Bergstein would not modify his loans -- which were at...
- 6/30/2010
- by By Alex Ben Block
- The Hollywood Reporter - Movie News
An attorney for David Bergstein has filed an objection to stop the federal bankruptcy court trustee from forcing his client to give a deposition, produce additional documents and/or allow files in his computer and that of his assistant to be examined.
Separately, Bergstein and his business partner Ronald Tutor have entered into an exclusive negotiating period with the Walt Disney Co. to acquire Miramax Films and its library of 611 movie and TV titles, according to a report Friday in the L.A. Times.
Bergstein is officially an adviser on the Miramax acquisition to Tutor, who also heads one of the largest construction companies in the world and is said to be financing the proposed $650 million-plus deal along with two entities outside the U.S. who have not been publicly identified.
Bergstein previously told THR that they not only bid $650 million, but also would go up to $700 million, Disney's original target price,...
Separately, Bergstein and his business partner Ronald Tutor have entered into an exclusive negotiating period with the Walt Disney Co. to acquire Miramax Films and its library of 611 movie and TV titles, according to a report Friday in the L.A. Times.
Bergstein is officially an adviser on the Miramax acquisition to Tutor, who also heads one of the largest construction companies in the world and is said to be financing the proposed $650 million-plus deal along with two entities outside the U.S. who have not been publicly identified.
Bergstein previously told THR that they not only bid $650 million, but also would go up to $700 million, Disney's original target price,...
- 6/4/2010
- by By Alex Ben Block
- The Hollywood Reporter - Movie News
Frustrated by a lack of cooperation, the trustee overseeing five companies controlled by David Bergstein has filed motions in federal bankruptcy court to force Bergstein to sit for an interview and provide access to his personal computer.
Interim Chapter 11 trustee Ronald Durkin related in the legal filing Tuesday in Los Angeles that Bergstein has not kept his promises to provide complete records for the companies, which include ThinkFilm and Capitol Film Development, and has insisted on bargaining in return for full cooperation and agreeing to be deposed under oath for what is known as a Rule 2004 examination.
"Bergstein will not voluntarily submit to a Rule 2004 examination," Durkin wrote. "He may dispute that assertion, but it is a fact. ... Bergstein does not have the right to postpone his sworn examination by the interim trustee."
Among other revelations in the filing, Bergstein has not personally filed income taxes for the past three...
Interim Chapter 11 trustee Ronald Durkin related in the legal filing Tuesday in Los Angeles that Bergstein has not kept his promises to provide complete records for the companies, which include ThinkFilm and Capitol Film Development, and has insisted on bargaining in return for full cooperation and agreeing to be deposed under oath for what is known as a Rule 2004 examination.
"Bergstein will not voluntarily submit to a Rule 2004 examination," Durkin wrote. "He may dispute that assertion, but it is a fact. ... Bergstein does not have the right to postpone his sworn examination by the interim trustee."
Among other revelations in the filing, Bergstein has not personally filed income taxes for the past three...
- 5/26/2010
- by By Alex Ben Block
- The Hollywood Reporter - Movie News
In his first report, the forensic accountant assigned by a federal bankruptcy court judge to examine five companies managed by David Bergstein said "certain tax returns have not been filed," as creditors in the involuntary bankruptcy action allege. But Bergstein said that does not reflect what is really going on.
Interim trustee Ronald Durkin, a Cpa and former FBI agent, said that Bergstein has been cooperating but has frustrated efforts to get all of the records, files and documents Durkin needs. The trustee wrote that, in particular, he has not been able to get clarification or copies of any tax documents that might have been filed, though Bergstein has told him some were filed.
"Three weeks into this case," the report says, "Mr. Bergstein has not produced a single income tax return for any of the (companies in the involuntary bankruptcy), and it is uncertain whether (those companies) ever filed any income tax returns.
Interim trustee Ronald Durkin, a Cpa and former FBI agent, said that Bergstein has been cooperating but has frustrated efforts to get all of the records, files and documents Durkin needs. The trustee wrote that, in particular, he has not been able to get clarification or copies of any tax documents that might have been filed, though Bergstein has told him some were filed.
"Three weeks into this case," the report says, "Mr. Bergstein has not produced a single income tax return for any of the (companies in the involuntary bankruptcy), and it is uncertain whether (those companies) ever filed any income tax returns.
- 5/10/2010
- by By Alex Ben Block
- The Hollywood Reporter - Movie News
David Bergstein is battling back.
The CEO of Pangea Media Group, faced with an involuntary bankruptcy filing in the U.S., legal administration of Capitol Films in the U.K. as well as lawsuits, judgments and other claims, called himself the victim.
His troubles, Bergstein told The Hollywood Reporter, stem from the 2008 collapse of his biggest lender, the Db Zwirn hedge fund, and aggressive legal tactics by creditor Aramid Entertainment Fund and its managing director, David Molner. Then there is his no-holds-barred business model: acquiring movies through foreclosure, which can wipe out prior obligations to talent guilds, sub-distributors and other creditors.
Bergstein has been the subject of an avalanche of bad publicity but insists his troubles stem from the challenges facing the indie movie business and the global financial meltdown as well as his own tough business style. An outsider who knows how to manipulate money but clearly doesn't bother...
The CEO of Pangea Media Group, faced with an involuntary bankruptcy filing in the U.S., legal administration of Capitol Films in the U.K. as well as lawsuits, judgments and other claims, called himself the victim.
His troubles, Bergstein told The Hollywood Reporter, stem from the 2008 collapse of his biggest lender, the Db Zwirn hedge fund, and aggressive legal tactics by creditor Aramid Entertainment Fund and its managing director, David Molner. Then there is his no-holds-barred business model: acquiring movies through foreclosure, which can wipe out prior obligations to talent guilds, sub-distributors and other creditors.
Bergstein has been the subject of an avalanche of bad publicity but insists his troubles stem from the challenges facing the indie movie business and the global financial meltdown as well as his own tough business style. An outsider who knows how to manipulate money but clearly doesn't bother...
- 4/13/2010
- by By Alex Ben Block
- The Hollywood Reporter - Movie News
In a rare legal action, a U.S. bankruptcy court judge Tuesday appointed an interim trustee to seize control of David Bergstein's Capitol, ThinkFilm and related entities after an attorney for the creditors repeatedly referenced the way the producer operated his global web of businesses as "the Enron of the entertainment world."
Creditors attorney David Neale of Levene, Neale detailed accusations including operating without proper accounting systems, use of company funds to cover personal gambling losses, failing to file tax returns or remit payroll taxes to the government, bouncing checks, defaulting on legal judgments, failing to pay talent participations and Bergstein denying his own execs information needed to do their jobs.
After listening to both sides for more than two hours in a courtroom crowded with creditors and their lawyers, veteran bankruptcy court Judge Barry Russell said that when the hearing began, he never would have thought he would...
Creditors attorney David Neale of Levene, Neale detailed accusations including operating without proper accounting systems, use of company funds to cover personal gambling losses, failing to file tax returns or remit payroll taxes to the government, bouncing checks, defaulting on legal judgments, failing to pay talent participations and Bergstein denying his own execs information needed to do their jobs.
After listening to both sides for more than two hours in a courtroom crowded with creditors and their lawyers, veteran bankruptcy court Judge Barry Russell said that when the hearing began, he never would have thought he would...
- 3/30/2010
- by By Alex Ben Block
- The Hollywood Reporter - Movie News
2Nd Update: Following is a joint DGA-sag-wga statement: "The Guilds welcome the judge's appointment of a trustee in this situation. We will continue to keep a watchful eye on this matter and protect the interests of our members." Update: Bergstein never showed in Bankruptcy Court today. But judge Barry Russell sided with an army of creditors and appointed an interim trustee to wrest control of the assets of all five of the companies controlled by David Bergstein. That prevents the liquidation of those assets until the court has a chance to sift through the particulars of Bergstein's troubled empire. Screen Capital International [...]...
- 3/30/2010
- by MIKE FLEMING
- Deadline Hollywood
The planned sale of rights to more than 800 movies that are part of the Capitol, ThinkFilm, Franchise and other film libraries scheduled for Monday has been canceled in the wake of the involuntary bankruptcy filing by a group of creditors against David Bergstein and five of the companies he controls.
The federal bankruptcy court in Los Angeles has set March 30 for a hearing on whether to appoint a trustee to take over for Bergstein and current management as requested. The filing was first reported Thursday by THR.com.
The case has been assigned to Judge Barry Russell, who has been on the bench since 1974, making him the longest-serving bankruptcy court judge in California and the second-longest serving in the U.S. Russell also has served as the chief judge of the bankruptcy court for the Central District of California.
Russell oversaw a case involving Bergstein in the late 1990s when...
The federal bankruptcy court in Los Angeles has set March 30 for a hearing on whether to appoint a trustee to take over for Bergstein and current management as requested. The filing was first reported Thursday by THR.com.
The case has been assigned to Judge Barry Russell, who has been on the bench since 1974, making him the longest-serving bankruptcy court judge in California and the second-longest serving in the U.S. Russell also has served as the chief judge of the bankruptcy court for the Central District of California.
Russell oversaw a case involving Bergstein in the late 1990s when...
- 3/19/2010
- by By Alex Ben Block
- The Hollywood Reporter - Movie News
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