Get the latest gossip
Red Ink At Landmark Theatres As Fortress Slams Charles Cohen For Transferring Personal Assets Amid Lawsuit
Landmark Theatres plunged in value from Covid, high interest rates and Hollywood strikes, according to a deposition by Landmark owner Charles Cohen.
The deposition was filed by Fortress in New York State Supreme Court, where a judge has ruled that Cohen defaulted on a loan and must auction off underlying properties including Landmark to pay it back. The judge also ruled in a separate but related case that Cohen is on the hook for a $187 million personal loan guarantee pending the results of the auction, which is set for November 8 unless the two sides agree to a settlement. Specifically, a new proposed order asks that Cohen “be restrained from making or suffering any sale, assignment, transfer, or interference with any property in which he has an interest until that judgment is satisfied.”
Or read this on Deadline
