Hedge Fund Movie's Director Beats Ex-Partner In Court

Aug 23 2011 | 11:52am ET

The writer and director of next year's would-be hit hedge fund movie Arbitrage is already a winner—in the courtroom.

Nicholas Jarecki has won a declaratory judgment against his former partner, producer Michael Ohoven, declaring him the sole screenwriter of the movie, which features Richard Gere and Susan Sarandon. A Los Angeles state court judge last week both dismissed most of Ohoven's countersuit against Jarecki and awarded Jarecki his sought-after declaratory judgement.

Jarecki still faces a breach of contract claim, but plans to argue it is preempted by federal copyright law. He also plans to file a motion seeking to force Ohoven to pay his legal bills.

The former partners split over a disagreement about where to film Arbitrage—it was made in New York. While the two sides had discussed a variety of terms prior to their falling out, nothing had been signed.

Arbitrage is about a hedge fund manager desperate to sell his firm to a major bank before his fraud can be uncovered. But things go wrong in “unexpected, bloody” ways, forcing Gere's character to seek help from an unlikely source.


In Depth

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

How To Generate 6% Yield In A Volatile World

May 22 2015 | 6:41am ET

Private credit comes in many different flavors, all with the common themes of over...

 

Sponsored Content

Editor's Note