Recessionomics - update 4
The film Terminator Salvation was apparently one of biggest independent movies ever made. Not financed by the major studios but (long behold) financed by a hedge fund that helped the producers buy the rights for the Terminator franchise. All this in a recession hey?
So when money is tight the suing begins, in fact it already began in Terminator Salvation pre production as 'another' producer wanted his cut.
What does this mean for the producers and their company Halycon? Possible bankruptcy.
Whatever the outcome will be of this litigation entanglement, it all falls under the title Recessionomics.
“Terminator Salvation,” one of the most expensive independent film productions ever, on Monday became embroiled in a legal fight between two of the film’s producers and a hedge fund that had provided $30 million to purchase rights to the “Terminator” series.
Halcyon, a company owned by the “Terminator Salvation” producers Derek Anderson and Victor Kubiceck, filed suit in Los Angeles Superior Court accusing Kurt Benjamin — whom they said helped set up financing for the rights purchase while working at the Pacificor hedge fund — of fraudulent dealings that have pushed Halcyon to the brink of foreclosure on its loan."
New York Times Link
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