Van Wilder producers in legal battle 15 years after release

Los Angeles March 30 (IANS) The producers who brought Van Wilder to the screen 15 years ago are now engaged in a legal fight over who owns the distribution rights to the film.

Myriad Pictures filed the suit on Wednesday in Los Angeles Superior Court seeking a declaration that it will take full rights to the film on the 15th anniversary of its release on April 4 reports variety.com.

According to the lawsuit Myriad contends that its partner in the project Tapestry Films engaged in secret negotiations with the distributor Lionsgate to extend the distribution agreement beyond the 15-year term.

Myriad asserts that under the agreement Tapestry was receiving 80 per cent of the proceeds to just 20 per cent for Myriad though Myriad put up the financing for the film.

The participation split is extremely favourable to Tapestry reads the lawsuit.

According to Myriad Tapestry sought to extend the agreement in order to maintain the favourable split. However Myriad insists that the full distribution rights should reply to Myriad next week under the distribution agreement.

Peter Abrams a partner in Tapestry Films said he had not received the complaint.

I don t know anything he told variety.com.

The lawsuit notes that Van Wilder stars Ryan Reynolds in a breakout role and has proven popular with movie audiences on an ‘evergreen basis long after its initial release.

--IANS
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