Daily Archives: April 25, 2013

Bankruptcy And Kevin Costner?

MV5BMjIwNDMzMjgxMF5BMl5BanBnXkFtZTcwNzc2NzE1OA@@._V1._CR0,0,1503,1503_SS100_  Yeah, that Kevin Costner, the guy who danced with the wolves.

Not in bankruptcy, no, but, being sued in bankruptcy court.

How can you be sued in bankruptcy court?

One way, is to try to get money from a person, or company, that filed bankruptcy.  Or, in this case, sue someone who has a right to be reimbursed by the company that is in bankruptcy.

“Robin Hood”, the Costner version, did not go bankrupt; it was an international hit, over $400 million, all tolled.  Hollywood bookkeeping being what it is, although Mr. Costner did receive his salary and some extra dollars:

“The deal promised Costner “significant” base compensation as well as certain contingent compensation; the lawsuit says he was paid that base amount as well as additional contingent compensation.”

In the law biz, contracts come down to the words.  Costner’s suit in California state court claimed he was entitled to “substantial” compensation.

Hmmm. I think his lawyers think substantial is more than additional.  So, Costner sued in California, state court, not bankruptcy court.

So how does a California state court suit, against the producer, Morgan Creek, get to a New York bankruptcy court?

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