Circuit City Settles $4M Billing Fight With Sony

Law360, New York (April 1, 2010, 2:23 PM EDT) -- Continuing to work its way through a Chapter 11 liquidation proceeding, Circuit City Stores Inc. has reached a settlement with Sony Pictures Home Entertainment that resolves a squabble over millions of dollars worth of DVD and Blu-Ray discs sold to the former big-box retailer.

The proposed settlement, filed Wednesday in the U.S. Bankruptcy Court for the Eastern District of Virginia, grants Sony a $4 million unsecured claim against the Circuit City estate once Sony has paid Circuit City $1.25 million.

Circuit City and Sony had been...
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