12 February 2013 8:31 AM, PST | The Wrap | See recent The Wrap news »

Within 24 hours, Rhythm & Hues Studios went from accepting a BAFTA award for its arresting visual-effects work on "Life of Pi" to filing for Chapter 11 protection. It was a shocking turn of events for a company that is up for two Oscars for its work on the 3D epic "Pi" and for "Snow White & the Huntsman," and a sign that the visual-effects industry may be headed for a reckoning. Just last week, it seemed Rhythm & Hues had cooked up a deal to avoid bankruptcy thanks to a $20 »


- Brent Lang

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