Saturday, 30 May 2015
Last updated 15 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…