Tribeca Audio Suit Settled
by Shannon Maughan -- Publishers Weekly, 9/29/2003
Tribeca Audio Inc., the New York City company run by audiobook producer and director Paul Ruben, has reached an out-of-court settlement in its suit against Canadian media outfit Imark Corporation and DH Audio.
Ruben filed suit in March 2002 in Toronto for nonpayment of services he had performed working on productions for DH Audio. In 2002, Imark Corporation claimed it was a separate entity from DH Audio and that DH Audio alone owed the money. Imark had acquired DH Audio in the 1990s; a May 2002 financial report from Imark, stated that DH Audio and another Imark division, Animazing Entertainment, had "discontinued operations."
After a year of legal wrangling during which Imark shifted its financial focus to a satellite communications division of the company called LinCsat, and was delisted from the Toronto Stock Exchange, the matter was resolved earlier this month in Ontario Superior Court. Under the agreement, Imark paid Tribeca Audio C$30,000 ($22,000 U.S.).
