Hedge Fund Has Fight On Its Hands Over ‘Terminator’

Feb 8 2010 | 8:27am ET

In bidding for the rights to the “Terminator” action movie franchise whose purchase it helped finance two years ago, hedge fund Pacificor is expected to have some company.

Halcyon Holding Group, which bought the “Terminator” rights two years ago with a $30 million loan from Pacificor, is set to auction off the asset today. The auction, to be held at the offices of consultant FTI Capital Advisors, is expected to attract bids from such Hollywood heavy-hitters as Sony Pictures and Threshold Entertainment.

The rights have already attracted an offer from Lions Gate Entertainment, which bid $15 million and 5% of future revenues last month. But Pacificor, which claims that Halcyon owes it $32 million, plans to submit a creditors bid. If such a bid is permitted by the bankruptcy court, it would force other bidders to top it. If none does, Pacificor would wind up with the “Terminator” rights.

Halcyon contends that it owes the hedge fund only $4 million. The company, owned by the producers of the last installment in the “Terminator” franchise, had sued Pacificor, alleging that the hedge fund had filed illegal liens in an effort to force it into bankruptcy. That suit has since been dropped.


In Depth

Firm Focus: Sustainable Insight Capital Bullish On ESG

Aug 12 2014 | 9:18am ET

Bruce Kahn spent over 15 years as a research scientist/consultant on environmental...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note