A court-appointed trustee, John Hyde, officially took over management of bankrupt NSB Corp., (the former Hemdale Film Corp.) yesterday, as trade creditors and banks maneuvered to become members of a creditors committee that will negotiate the indie’s restructuring.The unsecured creditors committee includes: Credit Lyonnais (owed about $ 90 million, $ 30 million unsecured), Svenska Handelsbanken (owed $ 20.08 million), Chase Manhattan Bank (owed $ 1.7 million), the Screen Actors Guild ($ 6 million) , Permanent Trustee Co. ($ 4.54 million), Thomas Fox ($ 2 million) and American Gothic Prods. Inc. ($ 277,328). Attorney Stephen Chrystie, who filed the involuntary Chapter 7 petition that forced bankruptcy, was opposed to Credit Lyonnais as a committee member because the bank is a secured creditor with only about $ 30 million unsecured. “They should not be on this committee, because their position is essentially in conflict with the rest of the trade creditors and guilds,” noted Chrystie.
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- University of Central Florida, Orlando, Florida
- Ringling College of Art and Design, Sarasota, Florida
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- Drexel University, Philadelphia, Pennsylvania
- Entertainment One, Los Angeles, California