Speed Kills

(2018)

Grace Collins v. Richard Rionda Del Castro

On December 9, 2016, Plaintiff Grace Collins agreed to loan Defendant Hannibal Production Inc. $245,000  Del Castro told Collins that the loan would serve as “the very first seed capital to kick start the acquisition of the rights to produce” the film, Speed Kills, and that Collins’ loan would be repaid before any other obligations connected to the film”.

According to the loan agreement, in consideration for Hannibal’s receipt of the $245,000 principal loan amount, Hannibal was to pay Collins “a one-time interest payment” of $31,850.00 on December 5, 2017.  The loan agreement also obligated Hannibal to pay back the loan’s principal on December 5. He explained that the loan agreement was a “simple straight forward bridge loan agreement” and that she would be repaid after bank funding was acquired to finance the movie and no later than December 5, 2017.  The loan was not repaid, which prompted this lawsuit.

Judgment: Because this Court lacks jurisdiction to compel arbitration proceedings in Los Angeles California, it will instead enforce the loan agreement’s arbitration clause by granting Defendants’ Motion to Transfer.  [Arbitration documents are not available]