Los Angeles-based international sales company Cinema Management Group (CMG) has filed for Chapter 7 voluntary bankruptcy in US bankruptcy court in California.
According to court documents, CMG has liabilities of just over $10.2m. A creditors meeting has been set for January 15.
The fate of the company’s staff and of the films it is representing was unclear at press time. The company’s website lists a staff of eight executives, led by president and founder Edward Noeltner.
In a statement to Screen, Noeltner said: “My wife’s ongoing illness requires me to devote 100% of my time going forward to her and our family. For this reason, I am unable to continue the daily operations of CMG and decided it is best to let a trustee wind up the business. For that reason, CMG filed a Chapter 7 bankruptcy case.”
Launched by Noeltner in 2003, CMG has handled sales on live-action and documentary films including Gasland, Good Hair and horror titles The Collector and The Collection. It handled sales and arranged financing on 2017 animated Oscar nominee Loving Vincent and has recently focused on independent animated features, among them Adventures In Zambezia 3D, Noah’s Ark, Charlie The Wonderdog, Buffalo Kids, Panda Bear In Africa and Kayara.
Before relocating to Los Angeles to launch CMG, Noeltner spent two years as New York-based senior vice president of international distribution and sales for Miramax. Earlier in his career he did stints in Europe with Svensk Filmindustri, Pandora Cinema and Senator International.
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