Vancouver: On March 16, the Supreme Court of British Columbia handed a $351,000 judgment to Water Street Pictures of Vancouver in a breach-of-trust lawsuit launched against now-defunct Forefront Releasing, along with Vancity Capital Corporation and the Business Development Bank of Canada.

The dispute related to a 1999 distribution agreement in which Forefront was to handle international sales for seasons one and two of Water Street’s teen soap Edgemont. Water Street is an associated company of Omni Film of Vancouver.

In 2000, Forefront Entertainment Group defaulted on loans from both Vancity and BDC. At the time, Forefront was about $1.2 million in debt, according to court documents, and by June 2001, as the company was winding down, the banks were collecting assets.

Water Street claimed it was owed distribution monies to the tune of $351,000.

The defendants argued that the funds were bank security, but Justice Nancy Morrison disagreed. It is not known if they will appeal.