PWI Holdings, the U.S. companies of Chilean pan-Latin America distributor PWI (Phoenix World Investments), filed for bankruptcy in a Los Angeles court this month.
PWI set up Santa Monica-based sales subsidiary Fine Entertainment in 2002; Los Angeles-based Veracruz Entertainment (which distributes DVDs of classic Latin American pics) in 2003; and U.S. production company PWI Cinemas the following year. Latter never made a pic.
In 2003 Margarita del Valle, former prexy of Fine Entertainment, lodged a sexual harassment and wrongful termination suit against PWI Holdings and its chairman, Arturo Feliu.
Del Valle claimed Feliu fired her when she rejected his sexual advances and that he refused to pay money owed under her contract. Del Valle’s anticipated and earned commission exceeds $1 million.
The bankruptcy does not affect PWI’s Chilean ops.