Bid to save sinking ‘Ocean Warrior’

Restructuring could throw pic a lifeline

AMSTERDAM — The troubled “Ocean Warrior” film project sued earlier this month by its backers may yet survive efforts to put it into bankruptcy (Daily Variety, May 2).

MPC Capital, one of the partners in the $58 million pic — the biggest to come out of the Dutch tax incentive scheme — is proposing to create a new association to act as the managing partner of the project.

The first order of business will be to oust co-producer Bous de Jong from his current position as managing partner of production company Ocean Warrior Ltd. on the grounds that he has failed to come up with the funds needed to complete the film about environmental activist Paul Watson.

“Warrior” beached early February when it ran out of cash, but De Jong promised that additional financing would be found.

Under MPC’s proposal, the new association would consist of Pieter Kronenburg, one of the originators of the project, film financeer Chris Brouwer, and three others. The plan will be put before the pic’s investors May 21.