Texas motion picture fans might be interested in learning that the producer of the movie "Snowden" has filed a fraud claim in his ongoing lawsuit against Radar Pictures for a bridge loan that was intended to fund a remake of the 1989 movie "Kickboxer." The fraud claim was filed in a motion to amend the civil complaint that was filed against Radar Pictures and Ted Field.
According to the complaint, Field allegedly made misrepresentations in order to secure the bridge loan. The plaintiffs are seeking no less than $2.25 million including punitive damages. The lawsuit concerns a $500,000 loan that was extended to Field. The plaintiffs allege that Field claimed to be the chief executive officer of Acme Kick Productions LLC in order to obtain the funds. The complaint alleges that Field admitted in a deposition that he was not the CEO of the company at the time he made the false claim.
Field reportedly did not repay the loan as agreed to in the contract. The defendants have not released statements regarding the pending litigation other than filing an answer denying the allegations in the original complaint.
Contract disputes sometimes arise in the course of business. Some alleged breaches may be resolved short of taking them to court. In the case of a major breach that destroys the heart of a contract, litigation might be necessary in order to secure sufficient damages to make the business that was harmed financially whole. A business and commercial law attorney may evaluate the dispute and work to resolve it in the client's favor when possible.
Source: Deadline, "'Snowden' producer sues Ted Field's Radar Pictures for fraud over 'Kickboxer' remake loan," Dominic Patten, Nov. 14, 2016