The Film Finance team at global law firm Reed Smith has recently closed two deals for Coutts & Co; the first in respect of the ITV channel-commissioned series “Foyle’s War”, and the second in respect of the new film “Nativity 3: Dude Where’s My Donkey?!” Partner Michael Maxtone-Smith led on both matters.
The latest production of British detective drama series “Foyle’s War”, which is set around the time of World War II and written by Anthony Horowitz, will be the ninth in the series. It is produced by Mr Horowitz’s wife, Jill Green, and stars Michael Kitchen and Honeysuckle Weeks. The team, led by partner Michael Maxtone-Smith and including associate Lucy Bleach, arranged for Coutts to lend against the ITV contract, the new “tax credit” for high-end television dramas that cost more than £1m/hour, and an international distribution agreement with Acorn Global Enterprises Limited. The series is scheduled to be broadcast next autumn.
The third in a series of children’s Christmas films, “Nativity 3: Dude Where’s My Donkey?!”, starring Marc Wootton, was financed after Coutts lent against the “tax credit” and a distribution advance from Entertainment One Limited. Two of the firm’s alumni, Laurence Brown and Spyro Markesinis represented respectively the production company and Entertainment One.
Reed Smith partner Michael Maxtone-Smith, commented:
“Coutts is a long-standing client of the firm, with whom we have been working since the 1980s. Both of these deals were ‘repeat transactions’ – which demonstrates the loyalty Coutts inspires in its customers. We are pleased to help them in their important support for the British film and TV industry.”
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