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

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note