Things looked bleak for the producers of
Terminator Salvation. Despite earning
$371 million worldwide, producers
Derek Anderson and
Victor Kubicek had problems repaying a $30 million loan from hedge fund Pacifcor and
filed for bankruptcy.
Now, it appears Anderson and Kubicek will be allowed to fight on.
Variety reports that a judge has given the two the
time they need to develop Terminator 5 so that they can repay the loan.
The court agreed with Anderson and Kubicek's Halcyon Co. in estimating the value of the
Terminator franchise at $70 million, well above the debt owed to Pacificor. Anderson has said in court filings that "he is informed" that Sony will put up the funds to pay back Pacificor.
Anderson went on to say:
"Victor and I are both huge Terminator fans, and we do see [Salvation] as a foundation for where we take the franchise in the future. Studios are enthusiastic. We have no regrets, all the trials and tribulations aside."
Kubicek added:
"Obviously, this is the last place we thought we would be in ... But you have to deal with what's in front of you. It's been eye-opening."
Terminator 5 is currently being developed.