Bipasha's Singularity in financial trouble
Bipasha Basu's Hollywood debut Singularity, a time travel epic, has run into financial trouble as the company behind the production owes millions of dollars to creditors and the cast and crew. The efforts are on to save the movie.Updated: Feb 08, 2012 18:19 IST
Bipasha Basu's Hollywood debut Singularity, a time travel epic, has run into financial trouble as the company behind the production owes millions of dollars to creditors and the cast and crew.
The company behind the Australian-UK co-production has been placed into administration. An estimated $15.13 million is owed to creditors, according to Worrells Solvency & Forensic Accountants, which is winding up Singularity Productions Pty Ltd, Australian website Inside Film reported.
The efforts are on to save the $ 28 million movie, bulk of which has been completed.
In a meeting in Brisbane, the creditors discussed completing the film by June 30, which will entitle the film to government rebates allowing creditors to be re-paid, the website said.
More than $13 million of Australian-based expenditure is expected to be eligible for the 40% Producer Offset rebate once the film is complete.
The film has been directed by Oscar-nominated Roland Joffe and stars Josh Hartnett, Basu, Abhay Deol and Neve Campbell.
Worrells told creditors that it had now secured all of the company's books and records, which it was reviewing, while outstanding company returns had now been lodged with the Australian Taxation Office.
The problem apparently started when Belgian-sourced funding secured by film company Corsan, controlled by one of the film's offshore producers, Paul Breuls, dried up during production.
"Our number one focus is to do everything we can to get the Australian creditors paid," said Grant Bradley, who oversaw the Australian leg of the production.
The period drama is about marine biologist Jay Fennel (Hartnett), who undertakes a near-fatal dive to save his wife while exploring an 18th Century merchant ship wreckage.
In a coma, he is transported to Pune of 1778 where British captain James Stewart (also played by Hartnett) falls in love with a warrior woman, played by Basu.
The film was also shot in India for four weeks.