Bergstein Film Library Suit Stuck In Bankruptcy Court

Law360, Wilmington (October 30, 2012, 1:46 PM EDT) -- A California federal judge on Friday refused to withdraw from bankruptcy court a derivative lawsuit accusing film producer and financier David Bergstein of fraudulently transfering a valuable film library beyond the reach of his bankrupt companies’ creditors.

According to an order filed with the court, U.S. District Judge Philip S. Gutierrez denied as untimely defendant Library Asset Acquisition Company Ltd.’s bid to withdraw reference from the bankruptcy court.

In April, creditor Screen Capital International Corp. filed adversary suits against each of the five debtor companies accusing...
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