Bank's Breach Claim Cut From Spyglass Loan Suit

Law360, Los Angeles (November 9, 2011, 7:30 PM EST) -- A California judge on Wednesday tentatively tossed First California Bank’s breach of contract claim alleging Spyglass Entertainment Funding LLC failed to reimburse the bank for increased costs associated with a $275 million loan used to finance the studio's Hollywood blockbusters.

California Superior Court Judge Rita Miller said in a tentative ruling dismissing FCB's primary claim that the loan agreement does not require the studio to reimburse the bank for accounting costs after it was forced to write down almost $3.5 million because of the depreciating value...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.