Here's the whole ruling: https://pmcdeadline2.files.wordpress.com/2015/01/wb-gravity-... It's more complicated (of course) than Gerritsen makes it out to be. The Hollywood Reporter does a decent job of explaining the contours: http://www.hollywoodreporter.com/thr-esq/warner-bros-knocks-... (and, in fairness, it's more complicated than WB makes it out to be as well). Most of the ruling concerns itself with the admissi…
No, if you buy a company, you buy it lock stock and barrel - that includes outstanding debts, existing deals, and obligations. Otherwise it'd be trivial to make a company go millions in debt, then sell it to an accomplice who would keep the assets and poof the debts. This still happens, of course, but there are fraud laws against it, and successful attempts when they happen generally require wriggling through a lot o…
Also, Gerritsen specifically alleged "fraud", and so the ruling considers whether sufficient facts were presented which, stipulated as true, would have led to a colorable fraud claim.