Gangs of London producer Pulse Films reportedly enters legal battle with Vice Media over allegations of $20M fraud

As per a recent report from Deadline, the founders of Pulse Films and Gangs of London's producer, Thomas Benski, and Marisa Clifford have decided to take legal action against Vice Media. According to them, as reported by the outlet, Vice Media allegedly still owes them more than $20 million after buying their remaining stake in Pulse Films.

However, Vice Media has rejected the allegations made by the Gangs of London producer, saying they have no basis. The company also stated that they are ready to fight the case if needed.

The dispute became public after a UK court ruling earlier this month. The judge did not allow them to get the documents they wanted from Vice but also did not decide who was right or wrong.

More on the story below.

What happened between Gangs of London producer Pulse Films and Vice Media?

As per the reports, Vice Media bought a big part of Pulse Films in 2016, the company behind Gangs of London. Five years later, after that purchase, Vice bought the remaining 22% share from the founders, Thomas Benski and Marisa Clifford, as well. However, they did give $10 million right away, with the rest supposed to be paid later through loan notes. The amount for the loan notes is reported to be $43.24 million.

A year after the agreement was made, the producers left Pulse Films, which was behind Gangs of London. They said that Vice executives told them that the company was doing okay and would soon be sold to Antenna Group. Because of this, they waited for their money to be returned instead of asking for it directly through contractual rights.

However, things took a different turn a year later, when Vice Group filed for Chapter 11 bankruptcy in May 2023. As reported by Deadline, a few months later, Soros Fund Management, Monroe Capital, and Fortress Investment Group bought the company at a bankruptcy sale.

The case names four parties, including Pulse Films and former Vice CEO Nancy Dubuc. Pulse Films owns shows like Gangs of London, which is now under Vice Studios.

The promise was not kept. Vice faced money problems and was unable to pay the $20.4 million it still allegedly owed the founders, which has led to the recent legal dispute with Vice Media.

While Benski and Clifford are taking legal action, Vice Media has also responded to their allegations. The company says there is no truth to the accusations and that it plans to fight the case. In a statement, a Vice Media representative said:

"Those allegations are groundless. In dismissing the application, the court relied on the vague, inconsistent and unsatisfactory way in which the allegations have been advanced. We will continue robustly to defend any claim, to the extent it is pursued."

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