A judge in New York State Supreme Court has directed Revlon Inc. chairman Ron Perelman to pay more than $3.4 million to a movie development company he cofounded with his ex-wife, actress Ellen Barkin.
Perelman started Applehead Pictures in 2005 with his then-wife and her brother George Barkin. According to court documents, Perelman agreed to pay $468,160 to cover the start-up’s operating expenses in 2005 and an additional $3.4 million over the following two years.
The couple separated in 2006. Applehead filed a breach of contract suit in 2007, alleging Perelman refused to make the 2006 and 2007 payments. He countersued and accused the brother and sister of breach of fiduciary duty.
Justice Debra James sided with Applehead in her decision to grant the company a summary judgment, which she signed in December and which was officially entered by a court clerk in Manhattan Thursday. The judge awarded the film company $3.4 million with 9 percent annual interest dating to January 2007.
Perelman spokeswoman Christine Taylor said Thursday that the financier would appeal the decision.
“The lawsuit brought at the behest of Ellen Barkin has never been anything more than a desperate last grab for further undeserved monies following her very substantial settlement with and release of Ronald Perelman,” Taylor told WWD.
The court will continue to hear other litigation in the case, including Perelman’s counter claims.