Latest in Chapter 11

Deluxe has named Eric Cummins as its new CEO as the longtime Hollywood production and distribution services provider emerges from a Chapter 11 bankruptcy process. Cummins will succeed current CEO John Wallace, who is retiring after nearly 35 years in the media and entertainment industry, the company said. Along with…

The bankruptcy proceeding of the The Weinstein Company, which has been grinding on for 15 months, saw yet another delay Friday as a pivotal hearing was rescheduled to July 15. U.S. Bankruptcy Court Judge Mary Walrath in the District of Delaware was scheduled to hear a request by the company’s estate to appoint law…

With the deadline for bids on Relativity having passed, it looks like another business partner of the Ryan Kavanaugh-led company has a problem with what's going to happen next and who will own the joint – not that we know specifically what EuropaCorp is really upset about or what they say they are owed. In a heavily…

EXCLUSIVE: After more than four years of lawsuits, disputed loans, tattered reputations and tens of millions in fees, the vitriolic war between film financier David Bergstein and Aramid Entertainment looks to be almost over. And the victor might shock you. The parties have reached a settlement agreement, according to…

UPDATE, 8:28 PM: Rhythm & Hues just confirmed Deadline’s report in a press release. The VFX studio says it expects a “competitive auction” on March 27, which will be decided in court on March 28. But don’t count JS Communications out yet: I’m told they’re still exploring their options and may still throw their hat…

UPDATE, 5:25PM: A federal bankruptcy court today approved JS Communications’ stalking horse bid for the financially troubled Rhythm & Hues. With the South Korean media company now firmly in place to bid on the company, the auction process out of Chapter 11 will begin. If no other bidders put their name in the hat, the…

Bankrupt VFX house Rhythm & Hues must find a buyer by mid-March if it is going to recover out of Chapter 11, the company said in a court filing this week (read it here). The El Segundo-based effects studio, which won an Oscar last month for Life Of Pi after laying off 250 workers and seeking bankruptcy protection…

UPDATE: Inferno’s Bill Johnson forwarded a press release which better explains why the company filed Chapter 11. According to the release, the company can continue to do business unimpeded, and the move was to protect part of the company from a judgment involving the 2005 film Just Friends. Release is below story. EARL…