You will be redirected back to your article in seconds

Carolco liquidation plan OK’d despite Live beef

A liquidation plan for bankrupt Carolco Pictures was approved by the U.S. Bankruptcy Court in Los Angeles Thursday, despite objections by Pioneer Electronics and its subsidiary Live Entertainment.

In the plan, Carolco attorneys have declared their intent to sue former Carolco investor and Japanese distributor Pioneer for $11 million in claims. Live and its 50% owner Pioneer charge that Carolco owes them a total of more than $80 million.

Carolco attorney Howard Weg told Variety, “The liquidating trust will, hopefully, soon be in a position to begin making significant distributions to creditors who have been waiting now over two years to receive some payment on account of their very substantial claims.”

The projected payout to creditors is expected to total between $74.6 million and $105 million in cash, film devel-opment projects, litigation claims and interest.

More Scene

  • Brandon Flynn, Timothy Granaderos, Alisha Boe,

    Alisha Boe Says Brock Turner Case Was Her 'Bible' for '13 Reasons Why' Season 2

    A liquidation plan for bankrupt Carolco Pictures was approved by the U.S. Bankruptcy Court in Los Angeles Thursday, despite objections by Pioneer Electronics and its subsidiary Live Entertainment. In the plan, Carolco attorneys have declared their intent to sue former Carolco investor and Japanese distributor Pioneer for $11 million in claims. Live and its 50% […]

  • Yara ShahidiMTV Movie & TV Awards,

    Yara Shahidi, Noah Schnapp, More Talk the Dangers of Social Media at MTV Awards

    A liquidation plan for bankrupt Carolco Pictures was approved by the U.S. Bankruptcy Court in Los Angeles Thursday, despite objections by Pioneer Electronics and its subsidiary Live Entertainment. In the plan, Carolco attorneys have declared their intent to sue former Carolco investor and Japanese distributor Pioneer for $11 million in claims. Live and its 50% […]

  • A Night in the Writers' Room

    'Vida,' 'One Day at a Time' Showrunners Recount Being Called Racial Slur in Writers' Room

    A liquidation plan for bankrupt Carolco Pictures was approved by the U.S. Bankruptcy Court in Los Angeles Thursday, despite objections by Pioneer Electronics and its subsidiary Live Entertainment. In the plan, Carolco attorneys have declared their intent to sue former Carolco investor and Japanese distributor Pioneer for $11 million in claims. Live and its 50% […]

  • A Night in the Writers' Room

    Parity Takes Center Stage at Variety's 'A Night in the Writers' Room' Drama Panel

    A liquidation plan for bankrupt Carolco Pictures was approved by the U.S. Bankruptcy Court in Los Angeles Thursday, despite objections by Pioneer Electronics and its subsidiary Live Entertainment. In the plan, Carolco attorneys have declared their intent to sue former Carolco investor and Japanese distributor Pioneer for $11 million in claims. Live and its 50% […]

  • American Black Film Festival opening night

    Trevor Jackson Was Originally Told He Was 'Too Young' to Star in 'Superfly' Remake

    A liquidation plan for bankrupt Carolco Pictures was approved by the U.S. Bankruptcy Court in Los Angeles Thursday, despite objections by Pioneer Electronics and its subsidiary Live Entertainment. In the plan, Carolco attorneys have declared their intent to sue former Carolco investor and Japanese distributor Pioneer for $11 million in claims. Live and its 50% […]

  • Women In Film Crystal and Lucy

    Brie Larson Says She Learned Her Own Strength Playing 'Captain Marvel' Role

    A liquidation plan for bankrupt Carolco Pictures was approved by the U.S. Bankruptcy Court in Los Angeles Thursday, despite objections by Pioneer Electronics and its subsidiary Live Entertainment. In the plan, Carolco attorneys have declared their intent to sue former Carolco investor and Japanese distributor Pioneer for $11 million in claims. Live and its 50% […]

  • 2018 NBCUniversal Upfront

    Andy Samberg on Returning to NBC With 'Brooklyn Nine-Nine': 'It Feels Like Home'

    A liquidation plan for bankrupt Carolco Pictures was approved by the U.S. Bankruptcy Court in Los Angeles Thursday, despite objections by Pioneer Electronics and its subsidiary Live Entertainment. In the plan, Carolco attorneys have declared their intent to sue former Carolco investor and Japanese distributor Pioneer for $11 million in claims. Live and its 50% […]

More From Our Brands

Access exclusive content