(2011) Tags: Fox
Icon Film Distribution Ltd v. Cottonwood Pictures LLC
Claimant Cottonwood Pictures, LLC hereby alleges as follows: Cottonwood brings this Arbitration Demand to require distributor Icon Film Distribution Ltd. to honor the terms of a written distribution agreement for the motion picture “The Tree of Life”.
Pursuant to a May 16, 2008 Motion Picture Lease Agreement between Cottonwood and Icon — Icon was given certain rights to exploit the Picture in the United Kingdom for a term of 15 years after the Picture’s release. In return, Icon was to pay Cottonwood an advance payment totaling $2.25 million and certain percentages of the gross receipts arising from the exploitation of the Picture in the United Kingdom. Additionally, lcon agreed to pay the remaining amount of its minimum guarantee to Cottonwood. While Icon has paid to Cottonwood $450,000 of the $2.25 million advance payment, lcon has failed to pay the remaining $1.8 million of the advance.