Mike Young Productions Inc. has filed a US$5 million lawsuit against a holding company it claims has blocked attempts to acquire the US arm of insolvent French toon studio Moonscoop.
MYPI is suing Moonscoop US Holdings in the US Superior Court, alleging breach of contract, interference and other counts, according to Courthouse News Service.
Moonscoop US Holdings is a subsidiary of Moonscoop SA, the French company behind Code Lyoko that went into administration this year. The US company owns 51% of LA-based Moonscoop LLC (formerly Mike Young Productions) following an acquisition in 2005. Mike Young owns the other 49%.
The lawsuit claims MYPI attempted to retake full control over the company were blocked before Moonscoop SA went into administration but this was rejected. Moonscoop’s French arm is accused of then offering the holding company’s assets to other companies in a bid to satisfy creditors.
MYPI wants the court to block Moonscoop US Holdings from interfering with its rights under the operating agreement, and is seeking $5 million in damages.
Moonscoop SA didn’t respond to requests for comment at press time.