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
Technicolor and its former CEO, Frederic Rose, have been indicted in France on charges of fraud and breach of trust in connection with their role in the bankruptcy of Tarak Ben Ammar’s post-production group, Quinta Industries, and its subsequent acquisition of the company in January 2012.
The indictment, handed down by the high court of Nanterre, follows a criminal complaint filed by Quinta Communications, the parent company of Quinta Industries, in April 2012, which prompted a thorough preliminary investigation by French authorities. During the seven-year probe, computer and phone records of executives, including Rose’s, were examined. Rose, who had joined Technicolor from Alcatel-Lucent in 2008, was ousted from the company last month and replaced by Richard Moat.
Quinta Industries, a former French leader in the post-production and visual effects sectors, went bankrupt in December 2011. Technicolor, which had acquired 17.5% of Quinta Industries in 2006, made a bid to acquire its key assets once...
The indictment, handed down by the high court of Nanterre, follows a criminal complaint filed by Quinta Communications, the parent company of Quinta Industries, in April 2012, which prompted a thorough preliminary investigation by French authorities. During the seven-year probe, computer and phone records of executives, including Rose’s, were examined. Rose, who had joined Technicolor from Alcatel-Lucent in 2008, was ousted from the company last month and replaced by Richard Moat.
Quinta Industries, a former French leader in the post-production and visual effects sectors, went bankrupt in December 2011. Technicolor, which had acquired 17.5% of Quinta Industries in 2006, made a bid to acquire its key assets once...
- 12/18/2019
- by Elsa Keslassy
- Variety Film + TV
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