Film Finances Unveils Company Sale In Prepackaged Chapter 11, Cutting Ties With Private-Equity Parent 777 Partners
Exclusive: Film Finances, a global leader in film completion guarantees, and its related companies are set to be acquired by Film Services International, a new investor group with insurance company backing.
The purchase agreement under a voluntary, prepackaged Chapter 11 known as a 363 Sale was filed in Delaware court Tuesday to sever the completion bond giant from its private equity owner, Miami-based 777 Partners, whose legal and financial woes — from a failed Australian airline to a disastrous run for British football club Everton — have been making headlines this year.
Peter Coleman, CEO of Ffi Holding, said the new ownership group is committed to providing a substantial amount of capital to grow the various businesses and seek other acquisitions.
“We are excited to partner with this new group, which sees the huge value and expertise that our bond professionals and various businesses spanning all phases of the production services process bring with thousands...
The purchase agreement under a voluntary, prepackaged Chapter 11 known as a 363 Sale was filed in Delaware court Tuesday to sever the completion bond giant from its private equity owner, Miami-based 777 Partners, whose legal and financial woes — from a failed Australian airline to a disastrous run for British football club Everton — have been making headlines this year.
Peter Coleman, CEO of Ffi Holding, said the new ownership group is committed to providing a substantial amount of capital to grow the various businesses and seek other acquisitions.
“We are excited to partner with this new group, which sees the huge value and expertise that our bond professionals and various businesses spanning all phases of the production services process bring with thousands...
- 11/5/2024
- by Jill Goldsmith
- Deadline Film + TV
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