Most of the time, Hollywood is complaining about Joel Silver. Now the producer is complaining about Wall Street. Matthew Belloni scooped about the breach of contract and fraud lawsuit filed today in LA Superior Court by Silver against Goldman Sachs. It claims the investment bank stiffed him on more than $30 million from a share of revenue from his Dark Castle films. To put the lawsuit in context, the relationship began in those financially flush days of 2007 when Wall Street was eager to invest in the movie biz. Now it’s 2010, and Silver’s crappy Dark Castle is a bad joke. (Hey, there’s a sucker born every minute — and the rich ones usually find their way to Hollywood.) [UPDATE: According to Silver, his 11 Dark Castle have made $1+ billion all in.] “Despite their vast wealth and resources,” the Goldman defendants “have repudiated and breached their contractual obligations to pay the Silver Parties at least $30 million, made fraudulent misrepresentations to benefit themselves by over $100 million, and refused to pay substantial amounts due for the valuable services of Silver,” the complaint says. None other than pitbull Bert Fields is litigating the case for Silver. The defendants are Goldman Sachs, the Toronto-based TV/film producer and distributor Alliance, and Momentum Pictures USA.
Joel Silver Sues Goldman Sachs (And Can We Sue To Close His Crappy Dark Castle?)
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