In 2019, Ari Emanuel tried to play peacemaker between producer Joel Silver and Silver’s monetary backer, Daryl Katz.
It didn’t work, and now Emanuel finds himself dragged into the bitter feud between the ex-partners.
Silver, producer of “The Matrix” and “Deadly Weapon,” went into enterprise with Katz, the pharmaceutical billionaire who owns the Edmonton Oilers, in 2015. However the relationship soured, and by 2019 Katz was accusing Silver of failing to fulfill his monetary projections in half as a consequence of Silver’s colossal money owed.
Silver has accused Katz of reneging on their settlement, and of creating “extortionate threats” and threatening to slash Silver’s wage from $7 million a yr to $1 million.
Enter Ari Emanuel, the consummate Hollywood dealmaker. In March 2019, Emanuel held a gathering in his workplace with Silver and with Katz’s attorneys in an effort to hash issues out. He floated the concept of bringing in recent financing — from Genesis Media Capital — to pay for some new movies in addition to some ongoing tasks. He additionally threw out the potential of working a deal with Sony.
None of that got here to fruition, however Emanuel stored speaking to Silver and Katz via Might 2019 in order to attempt to attain a deal.
“They didn’t come to any kind of decision, as Mr. Katz repeatedly expressed excessive hostility and private dislike towards Silver,” in line with a doc not too long ago filed on Emanuel’s behalf.
In September 2020, Emanuel bought a subpoena from Katz’s attorneys. Emanuel was requested to sit down for a deposition and supply enterprise information courting again to 2014, which had been speculated to make clear Emanuel’s data of the dispute. Emanuel’s attorneys fought the subpoena, however an arbitrator dominated that he needed to comply.
Emanuel has now gone to a Los Angeles Superior Court docket decide in an effort to overturn the arbitrator’s ruling. Katz and Silver are due for an arbitration listening to on their long-running dispute on March 1.
Except he can get a decide to cease it, Emanuel might be compelled to testify. Emanuel’s attorneys argue that he’s not a celebration to the arbitration settlement between Silver and Katz, and subsequently he mustn’t must testify.
In the meantime, Silver has retained the companies of convicted felon Anthony Pellicano to assist him resolve the dispute. Maybe Pellicano can succeed the place Emanuel didn’t.