Tech and VFX giant Technicolor and its former CEO Frederic Rose have been indicted on fraud and breach of trust charges in France, per a report in French trade La Lettre Audiovisuelle, which we have confirmed.
The high court charges come after a seven-year investigation into Technicolor’s part in the 2011 bankruptcy of Tarak Ben Ammar’s post-production firm Quinta Industries, which Technicolor had owned a stake in but then fully acquired in early 2012.
Producer Ben Ammar had alleged that Technicolor worked against his company to force it into bankruptcy, and then purchased his assets at cut down price. Ben Ammar has filed both criminal and civil suits, the latter demanding €60M in damages.
The local judge in Nanterre, France, said she suspected Technicolor of having played a crucial role in Quinta Industries’ demise. She also accused Technicolor of having hidden its intention to launch its own post-production firm Technicolor Entertainment Services France,...
The high court charges come after a seven-year investigation into Technicolor’s part in the 2011 bankruptcy of Tarak Ben Ammar’s post-production firm Quinta Industries, which Technicolor had owned a stake in but then fully acquired in early 2012.
Producer Ben Ammar had alleged that Technicolor worked against his company to force it into bankruptcy, and then purchased his assets at cut down price. Ben Ammar has filed both criminal and civil suits, the latter demanding €60M in damages.
The local judge in Nanterre, France, said she suspected Technicolor of having played a crucial role in Quinta Industries’ demise. She also accused Technicolor of having hidden its intention to launch its own post-production firm Technicolor Entertainment Services France,...
- 12/19/2019
- by Andreas Wiseman
- Deadline Film + TV
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