‘Terminator Salvation’ producers file for Chapter 11

London: Three companies owned by the producers of the film ‘Terminator Salvation’ filed for Chapter 11 bankruptcy this week, court documents showed, according to a report in the Los Angeles Times.Producers Derek Anderson and Victor Kubicek, who own the franchise rights of "Terminator", also sued their primary investor, hedge fund Pacificor, the paper said.

The L.A. Times said Anderson and Kubicek did not make a payment demanded by Pacificor, which financed their purchase of "Terminator" rights and made two loans worth $9 million to Halcyon Co, their production company. Anderson and Kubicek said in the lawsuit, according to the paper, that they could not make the payment because of a lien that Pacificor placed on Dominion Holdings, a company through which they earned their producing fees on the movie. "If it were not for these allegedly illegal liens that compromised Halcyon`s liquidity, the company would not have had to file for Chapter 11 protection," Halcyon`s bankruptcy counsel, Scott Gautier of Peitzman, Weg & Kempinsky, told the paper in an emailed statement. "But its business is sound and we are confident that it will emerge from the Chapter 11 process intact and able to meet all its legal obligations," Gautier told the paper. "Terminator Salvation" sold $370 million worth of tickets globally, according to the paper. It was the fourth installment in the "Terminator" series. The first three starred California Governor Arnold Schwarzenegger. Peitzman, Weg & Kempinsky and Pacificor could not be immediately reached for a comment by Reuters. The bankruptcy cases are IN re: T Asset Acquisition Co LLC U.S. Bankruptcy Court Central District of California, No. 09-31853, Halycon Holding Group LLC No.09-31854 and Dominion Group LLC No. 09-31855. Bureau Report