Latest News

Terminator producers file for Chap 11 despite revenues of $300 million.

Posted by Administrator (adminadv) on [PUBL_DATE]
Latest News >>

Written by Free Audio Books - Free audiobooks on August 20, 2009 – 5:39 am -  

Although Terminator Salvation has sold a healthy $370 million worth of tickets around the world and has yet to be released on DVD, Anderson and Kubicek didn’t make a payment demanded by Santa Barbara hedge fund Pacificor, which financed their $30-million purchase of the “Terminator” rights in 2007 and made two subsequent loans to their Halcyon Co. production firm worth $9 million.
In a lawsuit Monday, Anderson and Kubicek said they couldn’t make the payment because of a lien that Pacificor placed on Dominion Holdings, a company through which they earned their producing fees on the movie.
Anderson and Kubicek have had several legal disputes with former business associates in their short careers as film producers, during which “Terminator Salvation” has been the only movie they released.
According to several people familiar with their “Terminator Salvation” deal, Anderson and Kubicek will earn the greater of $5 million or 5% of the movie’s revenues as producers.

Last changed: Sep 04 2014 at 3:47 PM

Back


Comments

None Found

Add Comment