Company Town Annex

Carolco Files Claim Against Marvel: Lawyers for the production company, which is operating under Chapter 11 of U.S. Bankruptcy Code, are disputing in a court filing a Marvel Entertainment claim that Carolco's rights to make a live-action film based on the comic book superhero Spiderman reverts to Marvel this week. Carolco in bankruptcy court papers said that in 1991 it signed an agreement with Marvel for $3 million for the rights to a "Spiderman" film, adding that the company has invested more than $12 million in developing the film so far. Carolco added that it has paid director James Cameron, who agreed to write, produce and direct the movie, about $3 million.