- 68 -
documentation we do have is incomplete. In addition,
there are outright gaps in the chain of title as to
groups of pictures; that is, certain documents relating
to transfers of libraries are missing.
For the foregoing reasons, it is not possible to
determine what rights have effectively been acquired.
It also is unclear who possesses the rights other than
domestic video in the various pictures, and who
possesses the reversion rights in domestic video.
The memorandum related that Epic Productions provided chain-of-
title documentation for only 15 of the 65 film titles (and 22 of
26 development projects), and that many of the 15 film titles for
which Troy & Gould received documentation appeared to be the
subject of domestic video rights licenses to Embassy and
Concorde, but that some of those licenses expired in May 1997.42
Troy & Gould stated that rights to completed pictures in the
EBD film library were apparently acquired by three entities,
Epic, Sultan (or its predecessor, Nelson), and Trans World
Entertainment; however, Troy & Gould could not determine how
these entities acquired rights from other entities appearing in
the chain of title, e.g., Embassy. Troy & Gould concluded that
this failure represented a significant gap in the chain of title.
42 From its examination of these film titles, Troy & Gould
determined that the licenses were for a term of years, in most
cases 10 years from delivery, and that it appeared for the most
part that the licenses had recently expired or would soon expire.
Troy & Gould concluded that “as to pictures for which the video
license to Embassy or Concorde has expired, it would appear that
* * * [SMHC] has no rights whatsoever, unless there are other
assignments (for which we have no documentation) into our chain
of title from the producers or other rights holders.”
Page: Previous 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 NextLast modified: May 25, 2011