Claims against Hemdale reach $ 43.3 million

Claims against NSB Corp., the former Hemdale Film Corp., continued to mount yesterday as the three Hollywood guilds and Oak Prods. Inc. joined the involuntary bankruptcy petition against the company.

Combined, the guilds and Oak’s claims, filed in U.S. Bankruptcy Court, total $ 7.33 million.

That brings the total owed to all creditors who are pushing the troubled indie into an involuntary Chapter 7 liquidation to about $ 43.3 million.

Specifically, the Directors Guild of America said it is owed $ 963,142; the Screen Actors Guild claims $ 4,786,438 past due; and the Writers Guild is reportedly owed $ 1,424,256. Oak claims it is owed $ 154,065 for profit participation under a settlement agreement, stipulation and court order.

The group of angry creditors gave the company until Friday to either pay off its debts, accept a Chapter 7 bankruptcy liquidation or convert it into a Chapter 11 reorganization.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading