September 30, 2004
In this newsletter:
iHOLLYWOOD FORUM PRESENTS “THE DIGITAL STUDIO” AT AFM
On Nov. 2, iHollywood Forum will hold its annual industry summit and showcase about digital technology’s transformation of film and television production. Attendees will learn about digital rights management and legal implications of digitization and distribution of media and entertainment.
The forum also offers an opportunity to network with potential clients, including top Hollywood dealmakers, producers, directors, editors, production companies, writers, content creators, investors and studio executives. In addition, attendees can earn MCLE credit. Mark will moderate the panel, “Distribution and Financing for Digital Films: Challenges and Opportunities.”
This year’s iHollywood Forum is conducted in partnership with the American Film Market. The conference will be held at Laemmle Theatre, 1332 2nd Street, Santa Monica, CA from 9 a.m. – 6 p.m.
Tickets are $125 for a Basic ticket; $195 for a Deluxe ticket, which includes networking lunch and cocktail party). Register using Discount Code “DS25” to save $25.
MARK’S UPCOMING SPEAKING ENGAGEMENTS Oct. 2-3, UCLA
Mark will be teaching a UCLA Extension course on Financing Independent Features and Negotiating a Distribution Agreement, Oct. 2-3. During the seminar, participants will examine how independent films are financed and distributed. Seminar topics include financing via pre-sales, debt, and limited partnerships; negotiating tactics; typical contract terms; cross-collateralization; and creative accounting. Particular attention is paid to how producers and filmmakers can protect themselves by watering down warranties, getting added to the E&O policy, using the lab access letter to retain possession of the negative, and utilizing termination and arbitration clauses. To enroll in the course online, go to www.uclaextension.com and enter Course Reg # Q6736U.
Oct. 30, Los Angeles, CA CALIFORNIA LAWYERS FOR THE ARTS Film Business Seminar at Southwestern University School of Law. Call 310-998-5590 or email UserCLA@aol.com.
Nov. 27–28, CALGARY, CANADA Southern Alberta Institute of Technology Mark will present his two-day workshop, “Self Defense for Writers and Filmmakers.” During the discussion Mark will cover topics including
· character portrayal – defamation, privacy and unfair competition
· copyright – limits, duration and protection
· contracts – negotiation, conclusion and remedies
· financing and presale agreement
· film distribution
For more information and to reserve your seat, contact Sheila Connell by phone: 403- 230-4617 ext. 242; by fax: 403-277-8930; or email: sheila@macphailharding.com. Preferential hotel accommodation rates are available for out of town delegates.
HOLLYWOOD FILM CONFERENCE
This year Mark will be chairing the Hollywood Film Conference, part of the Hollywood Film Festival, which will be held from Friday, October 15 to Sunday, October 17 at the Arclight Cinemas 6360 Sunset Blvd., in Hollywood. The conference will feature top industry speakers who will discuss financing and distribution of films.
In the past seven years over 600 industry professionals have participated as panelists in the conference, including executives from Columbia/TriStar, Fox Searchlight, MGM Studios, Miramax, NBC, New Line, Paramount Classics, Samuel Goldwyn Co., Seventh Art Releasing, Strand Releasing, Twentieth Century Fox, Showtime Networks, Walt Disney, and agents from CAA, ICM, William Morris and Writers & Artists among others. Additional info can be found at: www.hollywoodawards.com/conferences_film.html
Thursday, September 30, 2004
Thursday, September 16, 2004
SUICIDE BLONDE WINS JUDGEMENT AGAINST RGH/LIONS SHARE PICTURES
September 16, 2004
In this newsletter:
SUICIDE BLONDE WINS JUDGEMENT AGAINST RGH/LIONS SHARE PICTURES
On September 10, 2004, we were successful in having Judge James A Bascue of the Los Angeles Superior Court confirm an Arbitration Award we had previously won against RGH/Lions Share Pictures.
Our client, Suicide Blonde Productions, Inc., initiated arbitration against RGH/Lions Share Pictures for failure to live up to its distribution agreement obligations for the motion picture, “Suicide Blonde.”
In confirming the award, the Court granted Suicide Blonde $254,297.26 in damages, an amount that included $185,750 in lost revenue. Furthermore, the Court permanently enjoined RGH/Lions Share from advertising, selling, distributing, manufacturing, or shipping the picture, ordered RGH/Lions share to return all materials related to the picture, and required RGH/Lions Share to pay all reasonable attorneys fees and costs in securing the confirmation of the Arbitration Award.
MARK’S UPCOMING SPEAKING ENGAGEMENTS Oct. 2-3, UCLA
Mark will be teaching a UCLA Extension course on Financing Independent Features and Negotiating a Distribution Agreement, Oct. 2-3. During the seminar, participants will examine how independent films are financed and distributed. Seminar topics include financing via pre-sales, debt, and limited partnerships; negotiating tactics; typical contract terms; cross-collateralization; and creative accounting. Particular attention is paid to how producers and filmmakers can protect themselves by watering down warranties, getting added to the E&O policy, using the lab access letter to retain possession of the negative, and utilizing termination and arbitration clauses. To enroll in the course online, go to www.uclaextension.com and enter Course Reg # Q6736U.
Oct. 30, Los Angeles, CA California Lawyers for the Arts Film Business Seminar at Southwestern University School of Law. Call 310-998-5590 or email UserCLA@aol.com.
HOLLYWOOD FILM CONFERENCE SPECIAL OFFER
This year Mark will be chairing the Hollywood Film Conference, part of the Hollywood Film Festival, which will be held from Friday, October 15 to Sunday, October 17 at the Arclight Cinemas 6360 Sunset Blvd., in Hollywood. The conference will feature top industry speakers who will discuss financing and distribution of films.
In the past seven years over 600 industry professionals have participated as panelists in the conference, including executives from Columbia/TriStar, Fox Searchlight, MGM Studios, Miramax, NBC, New Line, Paramount Classics, Samuel Goldwyn Co., Seventh Art Releasing, Strand Releasing, Twentieth Century Fox, Showtime Networks, Walt Disney, and agents from CAA, ICM, William Morris and Writers & Artists among others. We have a special Offer for subscribers of this newsletter: more than 50% off the regular price of $495.00. Just mention that you heard about the conference from this newsletter and you can purchase admittance to the 3-day conference for only $195.00. Additional info at: www.hollywoodawards.com/conferences_film.html
FINANCING INDEPENDENT FILMS by Mark Litwak
Independent films can be financed in a variety of ways. In addition to a filmmaker using his own funds to make a movie, the most common methods are: 1) loans 2) investor financing 3) borrowing against pre-sales (a loan against distribution contracts) 4) distributor-supplied financing.
LOANS
Loans can be secured or unsecured. A secured loan is supported or backed by security or collateral. When one takes out a car or home loan, the loan is secured by that property. If the person who borrows money fails to repay the loan, the creditor may take legal action to have the collateral sold and the proceeds applied to pay off the debt. An unsecured loan has no particular property backing it. Credit card debt and loans from family or friends may be unsecured. If a debtor defaults on an unsecured loan, the creditor can sue for repayment and force the sale of the debtor’s assets to repay the loan. If the debtor has many debts, however, the sale of his property may not be sufficient to satisfy all creditors. In such a case, creditors may end up receiving only a small portion of the money owed them.
A secured creditor is in a stronger position to receive repayment. In the event of a default, designated property (the secured property) will be sold and all the proceeds will be applied first to repay the secured creditor’s debt. Unsecured creditors will share in whatever is left, if anything.
The advantage of a loan, from a legal point of view, is that the transaction can often be structured in a fairly simple and inexpensive manner. A short promissory note can be used and the transaction often is not subject to the complex security laws that govern many investments. Thus, there is usually no need to prepare a private placement memorandum (PPM). Keep in mind that if the agreement between the parties is labeled a “loan,” but in reality it is an investment, the courts will likely view the transaction as an investment. Giving a creditor a “piece of the back-end,” or otherwise giving the creditor equity in the project, makes the transaction look like an investment. Read the full article at: www.marklitwak.com/articles/general/financing.html
In this newsletter:
SUICIDE BLONDE WINS JUDGEMENT AGAINST RGH/LIONS SHARE PICTURES
On September 10, 2004, we were successful in having Judge James A Bascue of the Los Angeles Superior Court confirm an Arbitration Award we had previously won against RGH/Lions Share Pictures.
Our client, Suicide Blonde Productions, Inc., initiated arbitration against RGH/Lions Share Pictures for failure to live up to its distribution agreement obligations for the motion picture, “Suicide Blonde.”
In confirming the award, the Court granted Suicide Blonde $254,297.26 in damages, an amount that included $185,750 in lost revenue. Furthermore, the Court permanently enjoined RGH/Lions Share from advertising, selling, distributing, manufacturing, or shipping the picture, ordered RGH/Lions share to return all materials related to the picture, and required RGH/Lions Share to pay all reasonable attorneys fees and costs in securing the confirmation of the Arbitration Award.
MARK’S UPCOMING SPEAKING ENGAGEMENTS Oct. 2-3, UCLA
Mark will be teaching a UCLA Extension course on Financing Independent Features and Negotiating a Distribution Agreement, Oct. 2-3. During the seminar, participants will examine how independent films are financed and distributed. Seminar topics include financing via pre-sales, debt, and limited partnerships; negotiating tactics; typical contract terms; cross-collateralization; and creative accounting. Particular attention is paid to how producers and filmmakers can protect themselves by watering down warranties, getting added to the E&O policy, using the lab access letter to retain possession of the negative, and utilizing termination and arbitration clauses. To enroll in the course online, go to www.uclaextension.com and enter Course Reg # Q6736U.
Oct. 30, Los Angeles, CA California Lawyers for the Arts Film Business Seminar at Southwestern University School of Law. Call 310-998-5590 or email UserCLA@aol.com.
HOLLYWOOD FILM CONFERENCE SPECIAL OFFER
This year Mark will be chairing the Hollywood Film Conference, part of the Hollywood Film Festival, which will be held from Friday, October 15 to Sunday, October 17 at the Arclight Cinemas 6360 Sunset Blvd., in Hollywood. The conference will feature top industry speakers who will discuss financing and distribution of films.
In the past seven years over 600 industry professionals have participated as panelists in the conference, including executives from Columbia/TriStar, Fox Searchlight, MGM Studios, Miramax, NBC, New Line, Paramount Classics, Samuel Goldwyn Co., Seventh Art Releasing, Strand Releasing, Twentieth Century Fox, Showtime Networks, Walt Disney, and agents from CAA, ICM, William Morris and Writers & Artists among others. We have a special Offer for subscribers of this newsletter: more than 50% off the regular price of $495.00. Just mention that you heard about the conference from this newsletter and you can purchase admittance to the 3-day conference for only $195.00. Additional info at: www.hollywoodawards.com/conferences_film.html
FINANCING INDEPENDENT FILMS by Mark Litwak
Independent films can be financed in a variety of ways. In addition to a filmmaker using his own funds to make a movie, the most common methods are: 1) loans 2) investor financing 3) borrowing against pre-sales (a loan against distribution contracts) 4) distributor-supplied financing.
LOANS
Loans can be secured or unsecured. A secured loan is supported or backed by security or collateral. When one takes out a car or home loan, the loan is secured by that property. If the person who borrows money fails to repay the loan, the creditor may take legal action to have the collateral sold and the proceeds applied to pay off the debt. An unsecured loan has no particular property backing it. Credit card debt and loans from family or friends may be unsecured. If a debtor defaults on an unsecured loan, the creditor can sue for repayment and force the sale of the debtor’s assets to repay the loan. If the debtor has many debts, however, the sale of his property may not be sufficient to satisfy all creditors. In such a case, creditors may end up receiving only a small portion of the money owed them.
A secured creditor is in a stronger position to receive repayment. In the event of a default, designated property (the secured property) will be sold and all the proceeds will be applied first to repay the secured creditor’s debt. Unsecured creditors will share in whatever is left, if anything.
The advantage of a loan, from a legal point of view, is that the transaction can often be structured in a fairly simple and inexpensive manner. A short promissory note can be used and the transaction often is not subject to the complex security laws that govern many investments. Thus, there is usually no need to prepare a private placement memorandum (PPM). Keep in mind that if the agreement between the parties is labeled a “loan,” but in reality it is an investment, the courts will likely view the transaction as an investment. Giving a creditor a “piece of the back-end,” or otherwise giving the creditor equity in the project, makes the transaction look like an investment. Read the full article at: www.marklitwak.com/articles/general/financing.html
Friday, September 03, 2004
MARK TO TEACH AT UCLA OCT. 2-3
September 3, 2004
In this newsletter:
MARK TO TEACH AT UCLA OCT. 2-3
Mark will be teaching a UCLA Extension course on Financing Independent Features and Negotiating a Distribution Agreement, Oct. 2-3. During the seminar, students will examine how independent films are financed and distributed. Seminar topics include financing via pre-sales, debt, and limited partnerships; negotiating tactics; typical contract terms; cross-collaterization; and creative accounting. Particular attention is paid to how producers and filmmakers can protect themselves by watering down warranties, getting added to the E&O policy, using the lab access letter to retain possession of the negative, and utilizing termination and arbitration clauses. To enroll in the course online, go to www.uclaextension.com and enter Course Reg # Q6736U.
CONGRATULATIONS TO OUR CLIENTS
This Friday marks the Los Angeles theatrical opening of “Bush’s Brain,” an explosive new documentary film that introduces the country to Karl Rove, the man known as “Bush’s Brain,” the most powerful political figure America has never heard of.
The film chronicles the history of the Karl Rove-George Bush relationship and reveals Rove to be the Wizard of Oz behind the curtain, the man who is pulling the strings in the current White House.
“Bush’s Brain” is a primer on Rove’s political shenanigans for the past two decades. After seeing it, you’ll have a far deeper understanding of how the White House operates and how they will approach the campaign in the coming months, leading up to the November 2 election.
The film opens this Friday, September 3, at the Laemmle Sunset 5 in West Hollywood, the Laemmle Town Center in Encino and the Laemmle One Colorado in Pasadena. Visit the official Web site at: www.bushsbrain.net
HOLLYWOOD FILM CONFERENCE SPECIAL OFFER
This year Mark will be chairing the Hollywood Film Conference, part of the Hollywood Film Festival, which will be held from Friday, October 15 to Sunday October 17th at the Arclight Cinemas 6360 Sunset Blvd., in Hollywood. The conference will feature top industry speakers who will discuss financing and distribution of films.
In the past seven years over 600 industry professionals have participated as panelists in the conference, including executives from Columbia/TriStar, Fox Searchlight, MGM Studios, Miramax, NBC, New Line, Paramount Classics, Samuel Goldwyn Co., Seventh Art Releasing, Strand Releasing, Twentieth Century Fox, Showtime Networks, Walt Disney, and agents from CAA, ICM, William Morris and Writers & Artists among others.
We have a special Offer for subscribers of this newsletter: more than 50% off the regular price of $495.00. Just mention that you heard about the conference from this newsletter and you can purchase admittance to the 3-day conference for only $195.00. Additional info at: www.hollywoodawards.com/conferences_film.html
In this newsletter:
MARK TO TEACH AT UCLA OCT. 2-3
Mark will be teaching a UCLA Extension course on Financing Independent Features and Negotiating a Distribution Agreement, Oct. 2-3. During the seminar, students will examine how independent films are financed and distributed. Seminar topics include financing via pre-sales, debt, and limited partnerships; negotiating tactics; typical contract terms; cross-collaterization; and creative accounting. Particular attention is paid to how producers and filmmakers can protect themselves by watering down warranties, getting added to the E&O policy, using the lab access letter to retain possession of the negative, and utilizing termination and arbitration clauses. To enroll in the course online, go to www.uclaextension.com and enter Course Reg # Q6736U.
CONGRATULATIONS TO OUR CLIENTS
This Friday marks the Los Angeles theatrical opening of “Bush’s Brain,” an explosive new documentary film that introduces the country to Karl Rove, the man known as “Bush’s Brain,” the most powerful political figure America has never heard of.
The film chronicles the history of the Karl Rove-George Bush relationship and reveals Rove to be the Wizard of Oz behind the curtain, the man who is pulling the strings in the current White House.
“Bush’s Brain” is a primer on Rove’s political shenanigans for the past two decades. After seeing it, you’ll have a far deeper understanding of how the White House operates and how they will approach the campaign in the coming months, leading up to the November 2 election.
The film opens this Friday, September 3, at the Laemmle Sunset 5 in West Hollywood, the Laemmle Town Center in Encino and the Laemmle One Colorado in Pasadena. Visit the official Web site at: www.bushsbrain.net
HOLLYWOOD FILM CONFERENCE SPECIAL OFFER
This year Mark will be chairing the Hollywood Film Conference, part of the Hollywood Film Festival, which will be held from Friday, October 15 to Sunday October 17th at the Arclight Cinemas 6360 Sunset Blvd., in Hollywood. The conference will feature top industry speakers who will discuss financing and distribution of films.
In the past seven years over 600 industry professionals have participated as panelists in the conference, including executives from Columbia/TriStar, Fox Searchlight, MGM Studios, Miramax, NBC, New Line, Paramount Classics, Samuel Goldwyn Co., Seventh Art Releasing, Strand Releasing, Twentieth Century Fox, Showtime Networks, Walt Disney, and agents from CAA, ICM, William Morris and Writers & Artists among others.
We have a special Offer for subscribers of this newsletter: more than 50% off the regular price of $495.00. Just mention that you heard about the conference from this newsletter and you can purchase admittance to the 3-day conference for only $195.00. Additional info at: www.hollywoodawards.com/conferences_film.html
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