Co. files for bankruptcy with debts of $45 mil
TOKYO — Distrib Movie-Eye Entertainment filed for bankruptcy at Tokyo District Court on Tuesday with debts of $45 million.
Launched in 2000 by former Gaga Communications exec Kaz Tadashiki, Movie-Eye focused on the theatrical and video distribution of foreign pics.
Among its releases were Edward Yang’s “Yi yi,” Clint Eastwood’s “Million Dollar Baby,” Paul Haggis’ “Crash” and Olivier Dahan’s “La Vie en rose” and Japan-China co-productions “Last Love, First Love” from helmer Hisashi Tomo, Chih-yen Yee and Ten Shimoyama’s “About Love” and Yibai Zhang’s “The Longest Night in Shanghai.”
The company produced Masahiko Nagasawa’s drama “Night Time Picnic,” Shinya Tsukamoto’s “Nightmare Detective,” Yeming Wang’s “Tea Fight” and Keisuke Yoshida’s “Cafe Isobe.”
In 2008 Movie-Eye launched a drive to become a listed company, but gave up when the stock market turned sour.
By that time it was over-extended and fell into the red when it could no longer raise funds in a recessionary market. In the fiscal year ending in March its sales totaled $29.5 million.