Franchise Pictures says it regained various international distribution rights to five features -- Angel Eyes, Get Carter, The Pledge, 3000 Miles To Graceland and Viva Las Nowhere -- after Germany's Intertainment Licensing failed to make the required payments on those films.
In a statement released onSunday, Franchise claimed it had been authorized by the films' productionlenders to re-sell the rights on these films in the territories once licensedby Intertainment.
Warner Bros Pictures Internationalhas agreed to distribute the pictures in most of these territories, with othermajor distribution companies picking up the remainder, announced Franchise.
In doing so, Franchise saidit was honouring the deals Intertainment made with its customers for thesepictures, such as with CDI in Italy, Manga in Spain and Harmony Gold.
"We are pleased that we have been able to step in and assure that these companies, which have already paid a sizeable deposit, receive the product they were promised,"said Elie Samaha, chairman and chief executive officer of Franchise.
Last week, Franchise filed a lawsuit in the US Federal Court in New York against Intertainment's bank, HypoVereinsbank, for allegedly failing to honour its payment obligations in connection with a letter of credit on another film, Caveman'sValentine.