David Bergstein

This article is about the investor involved with Hollywood films. A different David Bergstein is the spokesperson for the Democratic Congressional Campaign Committee
David Bergstein

Bergstein, circa 2014
Born David Rafael Bergstein
August 9, 1962 (age 52)
New York City
Occupation Producer, entrepreneur, investment banker
Years active 2004 – present

David Rafael Bergstein (born 1962) is an American businessman, writer and former film producer.

Early life and education

Bergstein was born in Brooklyn, New York[1] and grew up with his father Leonard Bergstein, an engineering professor and Holocaust survivor.[2] Bergstein received a BS in pre-medicine at Polytechnic Institute of New York University and attended the Benjamin N. Cardozo School of Law.[2]

Career

In 1994 Bergstein co-founded Graybox (now Cyrano Group), a private equity and consulting firm where he is CEO.[2] Part of his career involved buying and selling distressed assets.[1]

In 2003, Bergstein and business partner Ron Tutor loaned money to Franchise Pictures, a film production company headed by Elie Samaha. When the company went bankrupt, Bergstein and Tutor became owners of dozens of Franchise's films. By 2006 they had also acquired Capitol Films and ThinkFilm, in the process becoming major players in the independent film sector.[1]

In March 2010, fourteen creditors attempting to force the five companies controlled by Bergstein and Tutor into Chapter 11 bankruptcy were granted an emergency motion by a court to have an interim trustee appointed to oversee the companies.[3][4] Capitol Films and ThinkFilm were formally declared bankrupt by a Federal judge in October 2010,[5][6] and Bergstein's remaining three companies—R2D2, CT-1 Holdings and Capco—in 2011.[6][7] One of the creditors that had forced Bergstein's companies into bankruptcy, Aramid Entertainment Fund, had its claims against Bergstein's companies dismissed in 2012 — a judgment that was upheld by the New York Supreme Court in 2013.[8] In 2012 the former in-house counsel for Capitol Films who had left the company to work for Aramid, was successfully sued by Bergstein for breach of fiduciary trust and malpractice and ordered to pay $50 million in damages to Bergstein.[9][10][11][12]

In 2014, another creditor, Screen Capital International, had its claims rejected by a federal judge. Lawyers successfully argued that it was not a legitimate creditor because it had purchased the claims from another entity.[13]

Bergstein also took an advisory role in the sale of Miramax in 2010 to an investor group that included his partner, Ron Tutor. The purchase, for $660 million, included the rights to more than 700 library titles.[14] In 2012, Bergstein sued the owners of Miramax alleging they had reneged on paying him a $6.1 million fee and a 3.33 percent stake as compensation for his role in the acquisition;[15] the litigation ended two weeks later when Bergstein and Miramax reached a settlement.[16]

Bergstein is on the board of the Sheriff's Youth Foundation, a youth program run by the Los Angeles County Sheriff's Department.[17] Bergstein, with his wife Sara, formally dedicated the Conejo Jewish Academy's adult education program to Bergstein's father, naming the program "Leonard Bergstein Jewish Academy."[18] He contributes to the Huffington Post, the Times of Israel and the Algemeiner.[2][19][20]

Selected filmography

The films Bergstein has been involved in include:[21]

References

  1. ↑ 1.0 1.1 1.2 Eller, Claudia; Friedman, Josh (August 25, 2008). "A tough Hollywood debut". Los Angeles Times. Retrieved March 19, 2014.
  2. ↑ 2.0 2.1 2.2 2.3 "David Bergstein Huffington Post". Huffington Post. Retrieved March 19, 2014.
  3. ↑ Fritz, Ben (March 18, 2010). "Creditors attempting to force David Bergstein's companies into bankruptcy (updated)". Los Angeles Times. Retrieved March 25, 2014.
  4. ↑ Fritz, Ben (March 30, 2010). "Court appoints trustee to oversee Bergstein's companies". Los Angeles Times. Retrieved March 19, 2014.
  5. ↑ Lang, Brent (October 6, 2010). "Bergstein's ThinkFilm, Capitol Films Declared Bankrupt". The Wrap. Retrieved March 25, 2014.
  6. ↑ 6.0 6.1 Fritz, Ben (February 9, 2011). "David Bergstein's three remaining companies forced into bankruptcy". Los Angeles Times. Retrieved March 19, 2014.
  7. ↑ Lang, Brent (February 9, 2011). "Bergstein's Remaining Companies Pushed into Bankruptcy". The Wrap. Retrieved March 25, 2014.
  8. ↑ Sundar, Sindhu (April 30, 2014). "Bergstein Beats Aramid's $190M Suit in NY Appeals Court". Law360. Archived from the original on March 19, 2014. Retrieved April 10, 2014.
  9. ↑ Patten, Dominic (August 22, 2012). "Capitol’s David Bergstein Awarded $50M+$500K In Lawsuit Against Ex-Counsel". Deadline Holywood. Retrieved 23 April 2014.
  10. ↑ Randles, Jonathan (August 21, 2012). "Bergstein Wins $49.5M From Atty For Forced Bankruptcies". Law360. Retrieved 23 April 2014.
  11. ↑ Winnick, Zach (August 13, 2012). "Ex-Bergstein Atty Admits Targeting Companies For Bankruptcy". Law360. Retrieved 23 April 2014.
  12. ↑ Randles, Jonathan (August 14, 2012). "Ex-Bergstein Atty Said She Would Destroy Docs, Jury Hears". Law360. Retrieved 23 April 2014.
  13. ↑ Chutchian, Maria (March 10, 2014). "Screen Capital's Claims Axed From Bergstein Bankruptcies". Law360. Archived from the original on March 21, 2014. Retrieved March 25, 2014.
  14. ↑ Schucker, Lauren A. E. (July 31, 2010). "Hollywood Outsiders to Buy Miramax". The Wall Street Journal. Archived from the original on March 25, 2014. Retrieved March 26, 2010.
  15. ↑ Fritz, Ben (April 9, 2012). "David Bergstein sues Miramax owners". Los Angeles Times. Retrieved March 26, 2014.
  16. ↑ Fritz, Ben (April 24, 2012). "Miramax and David Bergstein settle lawsuit". Los Angeles Times. Retrieved April 11, 2014.
  17. ↑ "Three New Members Join Foundation Board". Sheriff's Youth Foundation of Los Angeles County. Retrieved March 19, 2014.
  18. ↑ http://www.jewishacademy.com/2014Winter/detail.asp?ID=90
  19. ↑ "Reducing America's defense budget would be a mistake". The Times of Israel. Retrieved March 19, 2014.
  20. ↑ "David Bernstein". The Algemeiner. Retrieved March 19, 2014.
  21. ↑ "I Variety Profile – David Bergstein". Variety, 2009. Archived from the original on April 13, 2010.

External links