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2012 | 2010 | 2009

3 items from 2012

Singularity may be set for more filming - Updated

15 March 2012 8:04 PM, PDT | IF.com.au | See recent IF.com.au news »

Troubled UK-Australian co-production Singularity may be set for further filming later this year.

Bollywood actress Bipasha Basu, who appears in the film,.recently told the Indian media that she had spoken to director Roland Joffé and further filming was set for April.

.I have always maintained that Singularity isn.t in major financial trouble,. she recently told the Hindustan Times. .I met Roland some time ago and he was excited. I.ve two days of shooting left, which I will complete in April, then we will work on promotions, so financial issues don.t figure at all..

The company behind the $28 million production, Singularity Productions, remains in liquidation owing an estimated $1.5 million to third-party creditors. Worrells Solvency & Forensic Accountants, which has been managing Singularity Productions since last October, held another meeting of creditors this week in Brisbane.

Contrarian Tax Unit.s Brett Thornquest, who is assisting the administrators, confirmed that »

- Brendan Swift

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Rescue plan hatched for Roland Joffe's Singularity

6 February 2012 7:21 PM, PST | IF.com.au | See recent IF.com.au news »

A rescue plan has been hatched to save embattled Australian-uk feature Singularity from administration.

The proposal, discussed at a creditors meeting held last week in Brisbane, involves completing the film by June 30, which would trigger millions of dollars in government rebates allowing creditors to be re-paid.

About $1.5 million is owed to third party creditors although some internal claims remain outstanding. An initial creditors report from Worrells Solvency & Forensic Accountants initially estimated $15.13 million was owed to creditors however it is understood that the major portion of that relates to an investment vehicle which partially funded the production.

Contrarian Tax Unit.s Brett Thornquest, who is assisting the administrators, said: .We.re optimistic that we can find a path forward to get creditors paid, get the film finished and get it released . it.s in everyone.s interest to do that..

Creditors are continuing to explore financial options ahead of another meeting scheduled for mid-March. »

- Brendan Swift

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Exclusive: Roland Joffe's Singularity, starring Josh Hartnett, in administration

1 February 2012 3:11 PM, PST | IF.com.au | See recent IF.com.au news »

The company behind $28 million Australian-uk co-production Singularity has been placed into administration, owing millions of dollars to creditors including cast, crew and suppliers.

The film . directed by Oscar-nominated Roland Joffé and starring Josh Hartnett, Bipasha Basu and.Neve Campbell . was plagued by budget troubles for months before administrators were finally called in late last year.

It is one of the biggest disasters to befall the Australian film industry in years. An estimated $15.13 million is owed to creditors, according to Worrells Solvency & Forensic Accountants, which is winding up Singularity Productions Pty Ltd.

Worrells told creditors that it had now secured all of the company.s books and records, which it was reviewing, while outstanding company returns had now been lodged with the Australian Taxation Office.

A number of sources have said the problems were directly caused when Belgian-sourced funding secured by film company Corsan . controlled by one of the film.s offshore producers, »

- Brendan Swift

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2012 | 2010 | 2009

3 items from 2012

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