CIM Group, which developed the Hollywood & Highland complex, objects to Kodak's attempt to remove its name from the popular theater
The landlord for the Oscars theater has struck back in court against Kodak's attempt to get its name off the theater weeks before the biggest event in film.
In a filing Wednesday, CIM Group, which developed the Hollywood & Highland complex that houses the Kodak Theater, accusing the bankrupt company of trying to pull out of its contract after it has already reaped the benefits of it.
A hearing is set for Feb. 15, less than two weeks before this year's Oscar ceremony.
In its motion, CIM insisted it has held up its end of the bargain struck back in 2000 — when the Oscars moved to the newly opened Hollywood & Highland complex and Kodak stuck its name on the theater.
Kodak's attempt to back out after its has reaped the benefits “is not only legally impermissible, but practically impossible,” the motion states.
CIM argues that Kodak must still pay its annual installments, at least for this year since the Awards are so close.
Most of the filing details the various benefits Kodak has accrued, citing the “national and international exposure” that comes with having the name on the theater, especially in light of events like the Oscars.
The filing asks the court to uphold the sponsorship agreement, at least through 2012.
Tom Sherak, the Academy’s president, has stressed that the matter is between Kodak and CIM. However, the Academy can reject a new sponsor if it doesn’t like it.
The Academy has also discussed moving the site of the Oscars, but its talks with CIM continue.
Pamela Chelin contributed to this report.
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