Relativity Owes Money On Movies Going Back At Least 8 Years
At least 10 movie productions appear among 145 debtors listed in Relativity’s bankruptcy filing so far. The limited companies’ names mimic titles of the films in question. The movies vary from specialized fare such as Joseph Gordon-Levitt’s feature directing debut Don Jon to major releases like Mirror Mirror, Relativity’s Snow White story that came out ahead of Universal’s more successful Snow White And The Huntsman back in 2012.
Specific creditors are not listed for these pictures in the court filing, but Hollywood guilds hold liens on at least two movies — the as yet unreleased Masterminds and Kidnap — which means that any creditor will have to deal with SAG-AFTRA, the Directors Guild of America and Writers Guild of America before selling those movies to settle Relativity’s debts, according to a report by Deadline corporate sibling Variety. The judge approved $8 million to be set aside for money owed to the guilds.
In a joint statement issued Friday, the unions said, “SAG-AFTRA, DGA and WGAW are closely monitoring the financial situation at Relativity and its related entities, including yesterday’s bankruptcy filing. Our legal teams are working with the company, and will continue working with post-bankruptcy personnel, to ensure that all our compensation, residuals and related health, pension and retirement claims are properly identified and resolved through the bankruptcy process. As always, it is a top priority to ensure that our members are treated fairly and compensated properly for their work, even when a producer is in a distressed financial situation.”
In addition to the four Relativity titles above, movie production debtors listed in the court filing include those for 3 Days To Kill (2014), The Best Of Me (2014), A Perfect Getaway (2009), 21 & Over (2013), The Spy Next Door (2010) and 3:10 To Yuma (2007). Several other debtor companies have names associated with titles of movies that have not been made.
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