Bankruptcy judge Barry Russell delivered a serious blow to the Aramid Entertainment Fund's case against Miramax co-owner Ronald Tutor and film financier David Bergstein this week, issuing five orders that disallow most of Aramid's claims to upwards of $140 million.
Aramid and other creditors have been engaged in a protracted legal dispute with Tutor (pictured left), his former business partner and several of their companies. Tutor, a construction tycoon, is co-owner of Miramax and other film properties.
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Aramid was seeking money for loans they made to companies that then went bankrupt, believing Tutor defrauded lenders. However,