September 14, 2012
By John Clark
The production company behind Brad Pitt's upcoming movie, "Killing Them Softly," is filing for bankruptcy in Los Angeles bankruptcy court, according to a report from the Wall Street Journal.
The company, Inferno International LLC, produces and finances major Hollywood films, and sources say that its distribution affiliate, Inferno Distribution LLC, has also filed for bankruptcy protection.
Among the films that the group has bankrolled over the years are "Killer Elite," "The Women," and "The Kids Are All Right," according to reports. The company itself admitted in its bankruptcy petition that it sought the aid of its bankruptcy attorney in order to "sort out the numerous claims, disputes and litigation involving their businesses and assets," sources say.
Sources indicate that the company has numerous creditors, and is also the target of several lawsuits from entities such as the Directors Guild of America and the Screen Actors Guild.
In addition to the lawsuits from Hollywood unions, Inferno has also been tussling with former partner Alan Mann for several years. The source of their dispute is a disagreement over revenues earned from the film, "Just Friends," a romantic comedy released in 2005.
Sources say that a primary reason for Inferno's bankruptcy filing was a recent judgment against the company won by Mann. The judgment, apparently, threatened to put the production company out of business, so Inferno plans to appeal the decision.
The Chapter 11 filing is somewhat surprising given the young age of the production company, which has pledged to "emerge from bankruptcy as a stronger and healthier business enterprise."
According to sources, Inferno Distribution was founded in 2002, and Inferno International was started a few years later, in 2008. Both businesses make money by licensing and distributing the rights to movies in foreign countries.
Another source of revenue for the companies is coordinating with banks and private equity firms to raise funds for movie production. With Brad Pitt's new film, "Killing Them Softly," for example, Inferno offered its services as an executive producer and primary financier, while Pitt's own companies, Plan B Entertainment and Chockstone Pictures, served as producers.
In addition, two subsidiaries of the company, Inferno Films and Inferno Features, are not included in the recent bankruptcy filing, sources say.
PAID ATTORNEY ADVERTISEMENT: THIS WEB SITE IS A GROUP ADVERTISEMENT AND THE PARTICIPATING ATTORNEYS ARE INCLUDED BECAUSE THEY PAY AN ADVERTISING FEE. It is not a lawyer referral service or prepaid legal services plan. Total Bankruptcy is not a law firm. Your request for contact will be forwarded to the local lawyer who has paid to advertise in the ZIP code you provide. Total Bankruptcy does not endorse or recommend any lawyer or law firm who participates in the network nor does it analyze a person's legal situation when determining which participating lawyers receive a person's inquiry. It does not make any representation and has not made any judgment as to the qualifications, expertise or credentials of any participating lawyer. No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers. The information contained herein is not legal advice. Any information you submit to Total Bankruptcy does not create an attorney-client relationship and may not be protected by attorney-client privilege. Do not use the form to submit confidential, time-sensitive, or privileged information. All photos are of models and do not depict clients. All case evaluations are performed by participating attorneys. An attorney responsible for the content of this Site is Kevin W. Chern, Esq., licensed in Illinois with offices at 25 East Washington, Suite 400, Chicago, Illinois 60602. To see the attorney in your area who is responsible for this advertisement, please click here, or call 866-200-8052.
FLORIDA ONLY: Total Bankruptcy is considered a lawyer referral service in the state of Florida under the Florida Rules of Professional Conduct. By all other standards, Total Bankruptcy is a group advertisement and not a lawyer referral service.
If you live in Mississippi, Missouri, New York or Wyoming, please click here for additional information.
By an Act of Congress and the President of the United States, we are a federal Debt Relief Agency. Attorneys and/or law firms promoted through this Web site are also federally designated Debt Relief Agencies. They help people file for relief under the U.S. Bankruptcy Code. Disclosures Required Under the U.S. Bankruptcy Code.