Film Fund Sues To Wrest Capital From Financier

Law360, New York (September 23, 2011, 6:52 PM EDT) -- The private equity arm of independent film production company PalmStar Entertainment Inc. filed suit Thursday in California alleging that Sycamore Entertainment Group Inc. welshed on an agreement to finance a film project.

PalmStar Media Capital LLC joined forces with Sycamore to form Milestone Media Capital Fund LLC, but the defendant only contributed $150,000 of the $900,000 it had agreed to provide, according to the complaint filed in the California Superior Court in Los Angeles.

“Defendants materially and substantially failed to perform and have breached the agreement...
To view the full article, register now.