GUAM STILL TRYING TO RECOUP FILM INVESTMENT

PACIFIC ISLANDS REPORT

Pacific Islands Development Program/East-West Center
With Support From Center for Pacific Islands Studies/University of Hawai‘i

GUAM STILL TRYING TO RECOUP FILM INVESTMENT
Spent $800,000 on box office bomb "Max Havoc"

By Zita Y. Taitano

KOROR, Palau (Palau Horizon, April 15, 2008) –The Guam Economic Development Authority (GEDCA) continues to go after the producers of the movie Max Havoc: Curse of The Dragon.

This morning a scheduling conference hearing was held on the case.

According to GEDCA legal counsel Arthur Clark, they are seeking the $800,000 guaranty that was issued to producer John Laing as well as the Guam Motion Pictures Corporation for the movie's production.

In 2004, GEDCA had pledged the funding as collateral for a loan to the now defunct Guam Motion Pictures Corporation.

The film, which was a huge flop, went straight to video.

The corporation defaulted on the loan and since then GEDCA has been trying through the court system to get the $800,000 back.

Clark said Laing had filed a lawsuit in California and attempted to get out of paying back the money. However, the case was dismissed with prejudice and referred back to Guam's courts.

"As far as we're concerned it's been a lot of stonewalling on their part," Clark said.

Marianas Variety: www.mvariety.com

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