Aramid Settles With Relativity In $44M Sony Film Finance Suit

By Beth Winegarner (December 22, 2014, 4:51 PM EST) -- Relativity Media LLC's insurers will pay $750,000 to trustees for bankrupt film financier Aramid Entertainment Fund Ltd. to settle Aramid's case claiming Relativity helped deep-six its $44 million interest in the production of 45 Sony Pictures Entertainment films, according to a motion filed in New York bankruptcy court Friday.

After suing Relativity and digging into documents unearthed in discovery, Aramid said it realized it would be difficult to prove that Relativity knew about a plan from Fortress Investment Group LLC to cut off funding for the slate. Under the settlement with Relativity, both sides would agree to drop any claims against...

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