The big screen adaptation of The Hobbit could be in jeopardy after the estate of JRR Tolkien launched a lawsuit against the film company behind the blockbusting The Lord of the Rings trilogy for $150 million. New Line Cinema have been accused of failing to pay royalty payments from the $6 billion made from the franchise. The Tolkien Trust filed the suit in LA on Monday. The trust are seeking $150 million in damages, as well as terminating New Line's rights to The Lord Of The Rings prequel The Hobbit. The film, which was to be split into two parts, is being produced by the trilogy's director Peter Jackson, and was expected to see Sir Ian McKellen and Andy Serkis reprise their roles. However, the suit could put an end to that. The Tolkien trust lawyer Steven Maier said, "New Line has not paid the plaintiffs even one penny of its contractual share of gross receipts despite the billions of dollars of gross revenue generated by these wildly successful motion pictures. "To make matters worse, to date New Line has even prevented the plaintiffs from auditing the last two films of the series. The trustees are very aggrieved by New Line's arrogance." It's not the first time that New Line have had disputes over royalty payments. Jackson was involved in a lengthy battle with the studio over profit participation before they resolved their differences in December.