Bank Leumi has reportedly filed lawsuits against Global Road Entertainment and Miramax on Wednesday over their refusal to release the Johnny Depp-led Los Angeles police corruption feature “City of Lies”.
The suits filed in Los Angeles federal court claim that the Israeli bank is owed nearly $20 million in unpaid guarantees on the true story film which deals with the murder investigations surrounding Tupac Shakur and The Notorious B.I.G. Just a month before it was set to hit theaters, the project was pulled from the studio schedule in early August with no new release date set.
Good Films reportedly obtained $23.2 million in loans from Bank Leumi to produce the film and the suits allege Open Road was committed to releasing the film theatrically in the domestic market in “no fewer than 1,800 theatres with a P&A expenditure of no less than $10 million”. Open Road has since apparently “informed Good Films that it does not intend to release the Picture at all.”
These suits come on top of the one last month by the film’s location manager accusing Depp of assault and battery on the set in April last year – Depp has vehemently denied the accusations. Global Road’s film division meanwhile was taken over by its creditors last week. It is now looking to sell off finished movies to recoup investments and stave off bankruptcy.
Source: The Wrap