Film Funder Loses Fight Over Missed Deadline Guarantee
Law360, London (May 28, 2021, 1:19 PM BST) -- A movie financier lost an appeal on Friday that sought to overturn a ruling allowing Allianz and other insurers to avoid paying millions of pounds under a completion guarantee, finding there was no ambiguity in a policy clause governing returns.
The Court of Appeal ruled that the producer of "Starbright" and its main financier had not "returned" some components of the movie sufficiently rapidly under the terms of the insurance contract when they had concerns about quality before the deadline. The film features "The Lord of the Rings" star John Rhys-Davies.
The appeal turned on the word "return" in a completion guarantee. The judicial...
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