The Louisiana Economic Development department is fighting two lawsuits seeking $91 million from the state agency over tax credits related to its film production incentive program.
The state sought an injunction July 31 in the U.S. Bankruptcy Court in New Orleans against Jackson, Mississippi-based Element Pictures LLC to stop the two lawsuits filed in Civil District Court for Orleans Parish, records show.
Element Pictures alleges it was cut out of a bankruptcy court settlement deal between the now-defunct Louisiana Institute of Film Technology, known as LIFT, and Louisiana Economic Development over tax credits. Element Pictures, which says it was a part-owner of LIFT, has a film production office in New Orleans. The company claimed in the two lawsuits that it should be awarded $91 million in damages from the state. See more at The Advocate.