Or no Hobbits at all...

[Sauron the White]

from WCH

If you don't pay your bills, you're a deadbeat

Very true. And from that I take it that the Estate gave an itemized bill to NL to pay? It could be that because of the deal that JRRT himself signed, NL feels that the royalty threshold has not yet been reached. In that case, they can make a legal arguement for not having a bill to pay.

As I have said, I am all in favor of the Estate getting every dollar owed to them. I am totally and completely against any kind of legal ruse or claim that would restore the rights to both HOBBIT and LOTR back to the Estate over the legitimate claim of Saul Zaentz.

The cynical part of me suspects that something like that may be part of all this. And that same cynical part also suspects that the Estate would not mind preventing any more films being made for year after year while this winds it ways though a series of courts.