Paramount has reached a tentative settlement in its lawsuit with Federal Insurance Company over claims of a breach of a $100 million COVID-19 policy agreement connected to the upcoming film “Mission: Impossible — Dead Reckoning”
According to filings obtained by TheWrap, the framework for the settlement was agreed upon this past Wednesday, just ahead of a mediation deadline. The settlement is expected to be finalized by Aug. 5, and the terms of the settlement have not been disclosed.
In August 2021, Paramount filed a lawsuit claiming that Federal Insurance owed the studio the full $100 million policy after production on the seventh “Mission: Impossible” film paused in February 2020 due to a positive COVID-19 test by an unidentified crew member.
Federal Insurance only agreed to pay $5 million for the production delay, which lasted five months, arguing that there was no evidence that the infected production members “could not continue their duties,” even though they could have spread the virus to the rest of the cast and crew.
“Mission: Impossible — Dead Reckoning” is set to be released in two parts, with part one being released on July 14, 2023 and part two on June 28, 2024.
Pamela Chelin contributed to this report.
Paramount Settles Lawsuit With COVID-19 Insurer for ‘Mission: Impossible’ Films
Studio had accused Federal Insurance Company of breaching agreement to pay $100 million over production pause from confirmed COVID-19 test
