Los Angeles, March 30 (IANS) The producers who brought "Van Wilder" to the screen 15 years ago are now engaged in a legal fight over who owns the distribution rights to the film.
Myriad Pictures filed the suit on Wednesday in Los Angeles Superior Court, seeking a declaration that it will take full rights to the film on the 15th anniversary of its release on April 4, reports variety.com.
According to the lawsuit, Myriad contends that its partner in the project, Tapestry Films, engaged in secret negotiations with the distributor, Lionsgate, to extend the distribution agreement beyond the 15-year term.
Myriad asserts that under the agreement, Tapestry was receiving 80 per cent of the proceeds to just 20 per cent for Myriad, though Myriad put up the financing for the film.
"The participation split is extremely favourable to Tapestry," reads the lawsuit.
According to Myriad, Tapestry sought to extend the agreement in order to maintain the favourable split. However, Myriad insists that the full distribution rights should reply to Myriad next week under the distribution agreement.
Peter Abrams, a partner in Tapestry Films, said he had not received the complaint.
"I don't know anything," he told variety.com.
The lawsuit notes that "Van Wilder" stars Ryan Reynolds in a breakout role, and "has proven popular with movie audiences on an 'evergreen' basis long after its initial release".
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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.