(2007) Tags: Paramount
MARATHON FUNDING, LLC v. PARAMOUNT PICTURES CORPORATION
In December 2006, Marathon Funding, LLC, agreed to invest in a slate of 14 motion pictures to be produced and distributed by Paramount Pictures Corporation, including what would become the Oscar winner for best picture in 2007 — “No Country For Old Men” — which starred Tommy Lee Jones and Javier Bardem. Pursuant to that agreement, Paramount issued an accounting statement to Marathon in late 2009 that deducted a little more than $2 million from Marathon’s account. Marathon later determined that Paramount did so to cover a portion of a $15 million payment Paramount made to Tommy Lee Jones due to a drafting error Paramount made in its contract with Jones.
Marathon sued Paramount for breach of fiduciary duty, contending that Paramount should not have charged Marathon for Paramount’s error.