First California Suffers Setback In $275M Loan Suit

Law360, Los Angeles (November 22, 2011, 4:38 PM EST) -- A California judge on Tuesday refused First California Bank’s request for a judicial win on its claim that Commerzbank AG breached a contract by failing to cough up FCB’s share of $17.8 million in prepayments made to a $275 million film production credit facility.

Judge Rita Miller refused to grant FCB’s motion for summary adjudication on its claim that Commerzbank, the credit facility’s administrative agent, was contractually bound to pay FCB at least $890,000 in optional prepayments made to the fund by borrower Spyglass Entertainment Funding...
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