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Palm greases ‘Guillotine’

Prod'n co. to give pic an urban update

Palm Pictures and its label Arthouse Films will remake classic chopsocky “Master of the Flying Guillotine.”

Remake will be first on Palm’s development slate. Of late, shingle has been actively acquiring films for distribution, but expects to be back in the production game soon.

First released in 1975, period pic tells story of a one-armed boxer lured to participate in a tournament by a vengeful Shaolin master who holds him responsible for the death of his disciples. Writer-director Jimmy Wang Yu also starred as the one-armed boxer.

Pathfinder Pictures re-released “Guillotine” in the spring.

Deal was brokered by Palm Pictures and Arthouse execs David Koh, Jose Martinez and Mark Ragone with Wong Hoi and attorney Jonathan Lonner for First Distributors in Hong Kong.

Palm plans to give an urban update to “Guillotine” with a hip-hop soundtrack.

Full production slate will be announced after the Toronto film fest, said Koh, who heads up acquisitions and production. Palm has produced eight films in the last three years including “The Cup,” “Lockdown” and “Black and White.”

“We plan to develop two types of properties. The first being films in the $250,000 to $6 million range which we would develop and finance. These would include digitally shot movies and original DVD projects,” continued Koh. “The others are bigger-budget projects such as ‘Guillotine,’ which we will develop and then seek production partners.”

Palm just released “Stoked: The Rise and Fall of Gator” in Gotham on Friday. Other current titles include Claude Berri’s “The Housekeeper” and thriller “The Eye.”