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I am owed in total excluding VAT following amounts
Main feature - concert film balance on production costs owed on agreed budget : £11,278.95
then a deferred production fee which relates to a waterfall (which I didn't understand) £19,371.00, Director fee also part of waterfall £7,000.00
Secondly additional to main feature we were asked to deliver a Live cinema broadcast at an agreed cost which they signed off on and we delivered this April 23rd 2015 - net budget £32032
So excluding VAT its over £67K we are owed on services and products delivered....I just need to understand what if the deal terms are fair and if they are worth the paper they are written on.....
I cant seem to attach deal term PDF and Invoice for the april 23rd show as reference
OK seems the attachments worked, sorry ive duplicated there...oops
Ok Both Nineteen Fifteen Productions (me) and ScreenLive Entertainement (the party who contracted us) are Limited companies
Yes the CEO's words to me were " You can see my problem, I have a gap of £175K in my cash flow"
Not sure why he took on a project he couldn't afford and based his whole business on ancillary sales (which were forecast at around £150K) but none of that was promised or guaranteed)
He wanted ALL rights for perpertuity which i understand under UK copyright law is 50yrs....so in theory he has 50 years to make his return on his investment...?
I just need to know if i can commence litigation if they refuse to come to an agreement over the monies owed...and if they acted fraudulently, by commissioning us to deliver the live show when they knew they couldnt pay for it??
I can send my most recent correspondence with them if it helps?
EP Records and Nineteen Fifteen are co producers of this project
Sorry my fault to clarify
Nineteen Fifteen Productions and EP Records (we have a separate agreement between us)
So ScreenLive have been working with Nineteen Fifteen as the lead producer (Nineteen Fifteen have been engaging and paying suppliers throughout the process...EP Records are simply editorial producers - all finances have been running via 1915.
Hope that makes sense??
thank you very much
that is MOST helpful and as you say I need to decide on a course of action
I agree that a statutory demand may be required