NEW YORK, Jan. 4 /PRNewswire/ -- A New York state court last week ordered Ronald O. Perelman to pay at least $4 million to Applehead Pictures LLC for refusing to make capital contributions to the film development company in violation of their contract.
In 2007, Applehead retained Susman Godfrey to sue Mr. Perelman for breaking its contract with the company. In last week's decision, the court granted Applehead's motion for a summary judgment, rejected all of Mr. Perelman's defenses, and ordered Mr. Perelman to pay Applehead the full amount of his capital contributions plus 9% interest running from January 1, 2007. The total value of the claim is now over four million dollars.
Steve Susman and Jacob Buchdahl, partners in Susman Godfrey's New York office, represent Applehead. "When you sign your name to a contract, you must honor that contract, no matter who you are," said Susman. Susman Godfrey is a 90-lawyer litigation boutique with offices nationwide; the New York office opened in 2007.
SOURCE Applehead Pictures LLC