Legal action to wind up Inversion Productions, a company controlled by Philip Lee and Markus Barmettler, executive producers of “The Revenant,” has begun in Hong Kong. The action is being taken by …
in March 2019 that he and Barmettler had been trying to assemble the project for some seven years. Sun Entertainment said that it expected to provide a “significant portion” of the production budget., Sun Entertainment said that it had provided an initial $7.5 million loan to Inversion Productions, transferred in four instalments between December 2014 and February 2015. An additional $1 million instalment was loaned by Sun Entertainment in March 2019, bringing the loan principal to $8.5 million.
Sun says that the loans have not been repaid by Inversion Productions and the “Inversion” film has not been produced. In its winding up petition, Sun Entertainment says it is now entitled to $24.1 million, comprising the principal plus agreed interest and ‘default interest’ at 4% per month. Sun’s petition says that Inversion Productions is insolvent and unable to pay its debts.
Though the matter was discussed by Sun Entertainment and Hong Kong’s Independent Commission Against Corruption,understands that, beyond the civil winding up operation, no criminal actions have begun in any jurisdiction.Founded in 2011, Sun Entertainment has been involved in Hong Kong-Chinese co-productions such as 2017’s “Paradox” and 2015’s “SPL II: A Time for Consequences,” starring Wu Jing.
Lee was an associate producer on Ang Lee’s “Crouching Tiger, Hidden Dragon,” line producer on Zhang Yimou’s “Hero,” and executive producer on “Cloud Atlas” and “Assassin’s Creed.” Barmettler was producer on 2008 Chinese film “Purple Mountain,” and executive producer on “Conviction,” “Assassin’s Creed” and “The Captain.”
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