Incentive Capital v. Camelot Entertainment Group et al

Filing 103

MOTION for Writ Attachment filed by Plaintiff Incentive Capital. (Attachments: # 1 Text of Proposed Order) Motions referred to Samuel Alba.(Pia, Joseph)

Joseph G. Pia (9945)
Nathan S. Dorius (8977)
PIA ANDERSON DORIUS REYNARD & MOSS
222 South Main Street, Suite 1800
Salt Lake City, Utah 84101
Telephone: [phone]
Facsimile: [phone]
E-mail: [e-mail]
[e-mail]
Attorneys for Plaintiffs
IN THE UNITED STATES DISTRICT COURT
DISTRICT OF UTAH, CENTRAL DIVISION
INCENTIVE CAPITAL, LLC, a Utah Limited
Liability Company,
[PROPOSED] ORDER GRANTING
MOTION FOR WRIT OF
ATTACHMENT

Plaintiff,
v.
CAMELOT ENTERTAINMENT GROUP,
INC., a Delaware Corporation; CAMELOT
FILM GROUP, INC., a Nevada Corporation;
CAMELOT DISTRIBUTION GROUP, INC.,
a Nevada Corporation, ROBERT P. ATWELL,
an individual; JAMIE R. THOMPSON, an
individual; STEVEN ISTOCK, an individual;
TED BAER, an individual; PETER
JAROWEY, an individual,

Civil No. 2:11-cv-00288
Judge Clark Waddoups

Defendants.

1

THIS MATTER is before the Court on Plaintiff Incentive Capital, LLC’s (“Plaintiff” or
“Incentive”), Motion for Writ of Attachment pursuant to Rule 64 of the Federal Rules of Civil
Procedure, and Rules 64 and 64C of the Utah Rules of Civil Procedure.
The Court HEREBY ORDERS, ADJUDGES AND DECREES AS FOLLOWS:
The Defendants Camelot Entertainment Group, Inc. (“CEG”); Camelot Film Group, Inc.
(“CFG”); and Camelot Distribution Group, Inc. (“CDG” and collectively with CEG and CFG,
“Camelot”) shall deposit with the Court any and all proceeds and/or revenue obtained from
exploitation of the Liberation Assets (a film and television library containing hundreds of media
titles) and the Distribution Assets (comprising 13 film titles) (collectively the “Library”) which
were pledged as security for the Note up to an amount equal to:
(i)

the amount of principal and balance owed by Camelot under the Note

executed between Camelot and Incentive to memorialize the loan (the “Loan”) made by
Incentive to Camelot in the initial principal amount of $650,000
(ii)

the amount necessary bring Camelot current on all outstanding monthly

Profit Participation Payments (monthly payments owed by Camelot to Incentive under the Profit
Participation Agreement of ten percent (10%) of all gross revenues generated by Camelot from
any third party in connection with Camelot’s exploitation of the Liberation Assets “in all media,
worldwide, from all sources”) presently owed by Camelot to Incentive,
(iii)

the amount required to bring Camelot current on all outstanding monthly

Loan Modification Payments (1.5% per month of the balance of the minimum sales target of
$2,284,500 not paid to Incentive by April 27, 2011) as well as any late fees and penalties as set
forth in the loan documents, and

2

(iv)

the amount needed to keep Camelot current on such payments during the

pendency of this dispute, for purposes of preserving the monies owed to Incentive under the
Loan and the Library from dissipation, to ensure the postjudgment availability of it to satisfy
Incentive’s claim against Camelot.
The amounts deposited with the Court shall be no less than $1,151,890.23.
DATED this _____ day of September, 2011.

BY THE COURT:

_____________________________
The Honorable Clark Waddoups
United States District Court for the
District of Utah

3