Debt seals Film Trustees fate

As expected, shareholders agreed Friday to put film financier Film Trustees into voluntary liquidation.

With debts of T4 million ($ 6.8 million) after funding Jeremy Thomas’ productions of “The Sheltering Sky,””Everybody Wins” and “Naked Lunch,” the company virtually had no alternative.

The shareholders, including Thomas, sales agent Terry Glinwood, Dutch bank Pierson, Heldring & Pierson and French distib AAA, appointed insolvency practioners Begbie Norton & Partners as liquidator.

The liquidator is expected to quickly put the company out of its misery by realizing whatever is left of the assets to pay the creditors, principally Pierson, Heldring & Pierson.

AAA is claiming that as Film Trustees had a contract to invest in Thomas’ films, it should have had the chance to co-fund and distribute his current picture, Bernardo Bertolucci’s “Little Buddha.” AAA is pressing that argument with the liquidator; Thomas could respond that as “Little Buddha” was fully underwritten by Francis Bouygues’ CIBY 2000, there was no such opportunity.

More Film

  • 'Get Out,' 'Dunkirk' Back In Theaters

    'Get Out,' 'Dunkirk' to Return to Movie Theaters Following Oscar Nominations

    As expected, shareholders agreed Friday to put film financier Film Trustees into voluntary liquidation. With debts of T4 million ($ 6.8 million) after funding Jeremy Thomas’ productions of “The Sheltering Sky,””Everybody Wins” and “Naked Lunch,” the company virtually had no alternative. The shareholders, including Thomas, sales agent Terry Glinwood, Dutch bank Pierson, Heldring & Pierson […]

  • Sundance Film Festival Placeholder

    A&E, Sundance Institute Partner on Documentary Film Grants (EXCLUSIVE)

    As expected, shareholders agreed Friday to put film financier Film Trustees into voluntary liquidation. With debts of T4 million ($ 6.8 million) after funding Jeremy Thomas’ productions of “The Sheltering Sky,””Everybody Wins” and “Naked Lunch,” the company virtually had no alternative. The shareholders, including Thomas, sales agent Terry Glinwood, Dutch bank Pierson, Heldring & Pierson […]

  • Anne Hathaway Live Fast Die Hot

    Anne Hathaway's 'Barbie' Moved Back Two Years to 2020

    As expected, shareholders agreed Friday to put film financier Film Trustees into voluntary liquidation. With debts of T4 million ($ 6.8 million) after funding Jeremy Thomas’ productions of “The Sheltering Sky,””Everybody Wins” and “Naked Lunch,” the company virtually had no alternative. The shareholders, including Thomas, sales agent Terry Glinwood, Dutch bank Pierson, Heldring & Pierson […]

  • Who is Sufjan Stevens? Oscars Introduce

    Who Is Oscar Best Song Nominee Sufjan Stevens, Beloved by Indie-Rock Fans and Music Supervisors?

    As expected, shareholders agreed Friday to put film financier Film Trustees into voluntary liquidation. With debts of T4 million ($ 6.8 million) after funding Jeremy Thomas’ productions of “The Sheltering Sky,””Everybody Wins” and “Naked Lunch,” the company virtually had no alternative. The shareholders, including Thomas, sales agent Terry Glinwood, Dutch bank Pierson, Heldring & Pierson […]

  • Bellucci, Belmondo Announced As Lumière Award

    Monica Bellucci, Jean-Paul Belmondo Announced as Guests of Honor at France's Lumière Awards

    As expected, shareholders agreed Friday to put film financier Film Trustees into voluntary liquidation. With debts of T4 million ($ 6.8 million) after funding Jeremy Thomas’ productions of “The Sheltering Sky,””Everybody Wins” and “Naked Lunch,” the company virtually had no alternative. The shareholders, including Thomas, sales agent Terry Glinwood, Dutch bank Pierson, Heldring & Pierson […]

  • 'Death of Stalin' Banned in Russia

    Russia Bans Dark Comedy 'The Death of Stalin'

    As expected, shareholders agreed Friday to put film financier Film Trustees into voluntary liquidation. With debts of T4 million ($ 6.8 million) after funding Jeremy Thomas’ productions of “The Sheltering Sky,””Everybody Wins” and “Naked Lunch,” the company virtually had no alternative. The shareholders, including Thomas, sales agent Terry Glinwood, Dutch bank Pierson, Heldring & Pierson […]

  • BAFTA L.A. and N.Y. Elect New

    BAFTA L.A., N.Y. Announce New Chair, Board Members

    As expected, shareholders agreed Friday to put film financier Film Trustees into voluntary liquidation. With debts of T4 million ($ 6.8 million) after funding Jeremy Thomas’ productions of “The Sheltering Sky,””Everybody Wins” and “Naked Lunch,” the company virtually had no alternative. The shareholders, including Thomas, sales agent Terry Glinwood, Dutch bank Pierson, Heldring & Pierson […]

More From Our Brands

Access exclusive content