'Terminator' producers file for bankruptcy, creditors include Schwarzenegger, Christian Bale, McG
source: http://latimesblogs.latimes.com/entertainmentnewsbuzz/2009/08/terminator-producers-file-for-...
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- vistapoint
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It sounded bad when they filed the lawsuit recently...
"The producers of "Terminator Salvation" have filed for bankruptcy and their list of creditors is a veritable "who's who" of Hollywood.
Just a day after the duo sued their investors for allegedly pushing them into a series of bad business decisions and placing what they claim is an illegal lien on their property, three companies belonging to Derek Anderson and Victor Kubicek, owners of the "Terminator" franchise rights and the producers of May's "Terminator Salvation," filed for Chapter 11 bankruptcy on Tuesday.
Even though the movie has sold a healthy $370 million worth of tickets around the world and has yet to be released on DVD and in other post-theatrical markets, Anderson and Kubicek apparently couldn't stay afloat. As detailed in yesterday's lawsuits, they don't have the assets to pay back one of several loans made by Santa Barbara hedge fund Pacificor, which financed their $30-million purchase of the "Terminator" rights and loaned $9 million for other operating expenses.
Anderson and Kubicek have had several legal disputes with former business associates in their short careers as film producers, as reported by the Times in May.
The list of creditors for Anderson and Kubicek's three companies -- T Asset Acquisition Company, Dominion Group and Halcyon Holding Group -- includes four major studios and several big names involved in "Salvation," including star Christian Bale and director McG. Even California Gov. Arnold Schwarzenegger, whose face is briefly seen near the end of the movie, is on the list...."
"The producers of "Terminator Salvation" have filed for bankruptcy and their list of creditors is a veritable "who's who" of Hollywood.
Just a day after the duo sued their investors for allegedly pushing them into a series of bad business decisions and placing what they claim is an illegal lien on their property, three companies belonging to Derek Anderson and Victor Kubicek, owners of the "Terminator" franchise rights and the producers of May's "Terminator Salvation," filed for Chapter 11 bankruptcy on Tuesday.
Even though the movie has sold a healthy $370 million worth of tickets around the world and has yet to be released on DVD and in other post-theatrical markets, Anderson and Kubicek apparently couldn't stay afloat. As detailed in yesterday's lawsuits, they don't have the assets to pay back one of several loans made by Santa Barbara hedge fund Pacificor, which financed their $30-million purchase of the "Terminator" rights and loaned $9 million for other operating expenses.
Anderson and Kubicek have had several legal disputes with former business associates in their short careers as film producers, as reported by the Times in May.
The list of creditors for Anderson and Kubicek's three companies -- T Asset Acquisition Company, Dominion Group and Halcyon Holding Group -- includes four major studios and several big names involved in "Salvation," including star Christian Bale and director McG. Even California Gov. Arnold Schwarzenegger, whose face is briefly seen near the end of the movie, is on the list...."
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MovieMuser
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The new Terminator-related bankruptcy is just the latest of very, very many - If you follow the link there's a feature about the numerous companies that have gone under over the years after becoming involved in the Terminator franchise in one way or another
(incidentally, the LA Times story has now been updated to say Christain Bale, McG and Arnie aren't creditors, it's just that there names are mentioned in the bankruptcy filing)
- 2 years ago
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MovieMuser
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remanns
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Sounds like Christian Bale provides ground for termination.
- 2 years ago
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remanns
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abbym0308
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I wonder if we'll get another Christian Bale freak out viral out of this!?
- 2 years ago
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abbym0308
