Goldman Sachs vs. Hollywood producer case heats up
The battle pitting a top Hollywood producer against troubled Goldman Sachs seems to be heating up. Goldman (NYSE: GS) has answered Joel Silver's $30 million lawsuit, asking it be tossed out of court for being "implausible" and "absurd," reports the Hollywood Reporter.
The man behind "Die Hard," "The Matrix" and "Sherlock Holmes" sued Goldman in May claiming that "Goldman agreed orally to pay Silver $35 million (later reduced to $30 million) in exchange for a share of profits from films produced under his Dark Castle genre label."
Goldman Sachs responds in its filing: "That these sophisticated parties would enter into a series of oral agreements unconditionally requiring payment of millions of dollars and transfer of significant rights to valuable entertainment assets is entirely implausible."
"That some of these parties would then enter into a detailed written agreement for the transfer of the same assets to a different party without so much as mentioning any of the prior oral agreements is absurd," the defendants argue. But Silver's lawyer is confident that oral agreements are enforceable in California.
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