Proving once again that it ain’t over until it’s over, Fast & Furious producer Neal Moritz isn’t letting Ryan Kavanaugh’s new version of Relativity keep Hunter Killer without a fight. Unloading on Relativity today as a “fraud” and a “liquidation,” lawyers for Moritz filed an objection in U.S. Bankruptcy Court to get the Gerard Butler-starring movie out of the reorganizing company’s hands ASAP. “Relativity’s track record is one of consistent failure,” today’s filing bluntly states as it seeks to halt any extension of exclusivity motion for the company.
“The Hunter Killer Parties bring this Objection to the Motion in order to end the Debtors’ pretense that they are capable of confirming a viable plan of reorganization,” said paperwork from Michael Elkin and Carrie Hardman of NYC firm Winston & Strawn LLP for the producer and the Hunter Killer writers. Today’s filing (read it here) about the movie based on the novel Firing Point by George Wallace and Donald Keith comes just before a court-ordered deadline of such objections. “By the time the Debtors claim they will be able to present a plan for confirmation in May, the Hunter Killer Project will already be incapable of being produced, causing the Hunter Killer Parties irreparable harm,” they add, noting that Butler will drop out of the project if it is still up in the air next spring.
Relativity Bankruptcy: Court Approves DIP Financing Plan
Moritz and the scribes made what now seems like a gentler legal move back in September to get the pic out of Realtivity’s hands or that of a potential new owner – a move that several other producers on several other projects like the Halle Berry starrer Kidnap tried too. The Hunter Killer parties claimed then that any contracts with the company were worthless because they had “misled” on Relativity’s real financial situation. Obviously, a lot has gone down since then, with Relativity’s TV unit snapped up by investors and Kavanaugh pulling together supporters to hold on to the movie element of the company – a process that is far from complete. A process that Moritz and crew allege today is a smokescreen.
“The evidence will show that Relativity has been and continues to be a sham, and it is spending millions of dollars of fees charged by professionals to perpetuate that sham,” their filing Thursday claims pointing the finger at moneymen. “This case would surely be a Chapter 7 case if it were not for the fact that hedge funds that lost on their investments pre-petition are attempting to prop up this charade long enough for Ryan Kavanaugh to find another unwitting investor that would fund a plan that would issue to those pre-petition hedge fund investors debt and equity securities that they can mark on their books at a value that is not supportable.”
A Relativity spokesperson told Deadline tonight, “As we said in September, the allegations are baseless and patently false.”
Moritz and party want permission to look at Relativity’s reorg to see if it is really coming together. They also want that discovery to prove that “Ryan Kavanaugh has defrauded banks, creditors, equity investors and others for years.”
The matter will be discussed at a hearing set for November 11 – and it ain’t over.
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