Actors Guild Selling Foreclosed Films
In an effort to recoup more than $400,000 (GBP220,000) from stars including DAVID BOWIE and CHRISTOPHER PLUMMER, America's SCREEN ACTORS GUILD (SAG) is selling the rights to seven small films.
Bosses at SAG say the sales mark the first time the union has taken advantage of a clause in its contract with producers which allows it to foreclose on a film if royalties remain unpaid.
Producers often guarantee residual payments to actors using their films as collateral, the union said. But disputes are typically resolved using arbitration or other methods.
One film sold outright in a foreclosure auction held on 13 July (04) fetched "five figures", according to the union. The other six films will be sold through an agent.
Rights to sell the movies on home video, show them on cable and similar rights are among those offered, says SAG.
Among the films are THE LINGUINI INCIDENT,a 1991 film featuring Bowie and ROSANNA ARQUETTE; BLOOD MONEY, a 1996 film with JAMES BROLIN; and TELLING LIES IN AMERICA, a 1997 film with KEVIN BACON and CALISTA FLOCKHART.22/07/2004 21:22