Parents Call in $200,000 Movie Loan
VANCOUVER, B.C. (CN) - Parents of the indie horror film-makers of "Twisted Twins" sued Industryworks Entertainment and American Mary Productions, claiming they haven't been paid back a $200,000 loan that financed the production of "American Mary."
Marius and Agnes Soska claim in B.C. Supreme Court that the defendants agreed in November 2011 to pay back the loan by October 2013, with 2 percent interest. The deal granted the plaintiffs a security interest in the film's copyright and in any Canadian tax credits granted on labor expenses from the film's pre-production, filming and post-production, according to the complaint. In addition, the agreement gave them 5 percent of the net profits made from "American Mary."
The repayment date was extended to Feb. 20, 2014, but the defendants defaulted, the Soskas say.
They demand $200,000 plus interest and damages for breach of contract.
They are represented by Anna D. Sekunova with Clark Wilson LLP in Vancouver.