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Why ‘Rust’ Producers May Choose Bankruptcy Next
Hollywood Reporter ^ | 10/27/2021 | Eriq Gardner

Posted on 10/28/2021 10:54:57 AM PDT by marcusmaximus

Internal financial pressures will mount as the Alec Baldwin film lacked a completion guarantee.

Who believes that Rust — the Alec Baldwin movie that suspended production a week ago after the fatal shooting of the film’s cinematographer on a New Mexico set — will eventually be completed and released? The question isn’t the most important one following the accidental tragedy. Yet, it does inform the calculus on what’s to come.

-snip-

But the choice to finish or abandon the film could very well play a role on how this all shakes out. All productions begin with several rounds of risk assessment. Investors must look at the prospect of recouping, while even the most optimistic producers take out insurance in case anything goes wrong.

Rust was no exception, and the film insurance policy will likely cover at least part of the tab for the shutdown and probably even the costs for defending and settling negligence claims. (Some insurers exclude gross negligence. That’s a whole other discussion.)

(Excerpt) Read more at hollywoodreporter.com ...


TOPICS: News/Current Events
KEYWORDS: baldwincontrol; baldwinviolence; hepulledthetrigger; lockhimup
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Some insurers exclude gross negligence...
1 posted on 10/28/2021 10:54:57 AM PDT by marcusmaximus
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To: marcusmaximus

In the end, it’s all about money isn’t it. Pretty disgusting.


2 posted on 10/28/2021 10:58:44 AM PDT by Sacajaweau
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To: marcusmaximus
Is there anything in The Hollywood Reporter remotely close to being relevant?
3 posted on 10/28/2021 10:59:37 AM PDT by immadashell (New Planned Parenthood slogan: Black Babies’ Lives Don't Matter!c)
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To: marcusmaximus
Baldwin will never work again.

And doubt he won't say much about gun control...unless it's from a cell...and we all know that won't happen.

4 posted on 10/28/2021 10:59:52 AM PDT by Sacajaweau
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To: immadashell

as a Hollywood “insider”, only idiots read Variety or THR. And these producers (I’m a registered one myself) will simply CREATE another production company. We do this all the time. I can count how many times I go to small production or SFX company, and I would notice “Dude, wasn’t this called ABC123 productions?” THEM: “Nah dude, we’re DEF456 now.”


5 posted on 10/28/2021 11:04:19 AM PDT by max americana (FIRED LEFTARD employees at our office every election since 2008 and enjoyed seeing them cry.)
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To: Sacajaweau

Baldwin’s investors and production partners are going to throw him overboard with the bankruptcy filings.

He cocked the pistol. He pulled the trigger. He blasted the cinematographer in the chest and killed her.

If he’s not charged criminally thanks to the Soros Lezbo DA, at least he’s going to pay financially.


6 posted on 10/28/2021 11:04:25 AM PDT by marcusmaximus
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To: Sacajaweau

I doubt that, he will get work.


7 posted on 10/28/2021 11:05:43 AM PDT by Captain Peter Blood (https://www.freerepublic.com/focus/bloggers/3804407/posts?q=1&;pag, and that)
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To: marcusmaximus

I’d sure hate to be the insurance Co left holding the bag for this $hitshow...

I think LLoyd’s insures a lot of movies...


8 posted on 10/28/2021 11:06:07 AM PDT by Bobalu (Figure out what you like, learn enough to be dangerous, and then start fiddling around)
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To: Sacajaweau

He was just casually standing buy watching. The gun did it, not me. Yikes what a pickle Mr cocky has himself in now. Probably showing off and horsing around. It’s almost like he was destined to meet this fate because of things like we are going to kill Henry Hyde and his family. Prophetic!


9 posted on 10/28/2021 11:06:44 AM PDT by V V Camp Enari 67-68 ( This clears up a lot of misconceptions.)
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To: immadashell
Is there anything in The Hollywood Reporter remotely close to being relevant?

If you're not "in the industry," probably not.

10 posted on 10/28/2021 11:06:59 AM PDT by Steely Tom ([Voter Fraud] == [Civil War])
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To: Sacajaweau
In a business, it's all about the money.

Alec Baldwin may as well retire because he's probably uninsurable in the movie business right now.

11 posted on 10/28/2021 11:07:29 AM PDT by Alberta's Child ("All lies and jest, ‘til a man hears what he wants to hear and disregards the rest.")
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To: Bobalu

Insurance company isn’t going to pay because of gross negligence exclusion in not following standard risk management procedure in the use of firearms in movie productions. I think the insurer is Chubb.


12 posted on 10/28/2021 11:07:48 AM PDT by marcusmaximus
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To: V V Camp Enari 67-68
It’s almost like he was destined to meet this fate because of things like we are going to kill Henry Hyde and his family.

Possibly his very low IQ may have something to do with it.

13 posted on 10/28/2021 11:08:46 AM PDT by Steely Tom ([Voter Fraud] == [Civil War])
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To: immadashell

“Is there anything in The Hollywood Reporter remotely close to being relevant?”

This is the first discussion of a completion bond I have seen.


14 posted on 10/28/2021 11:13:24 AM PDT by TexasGator (UF)
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To: Captain Peter Blood

You maybe right, I’m sure Alec may be thinking “if it was only a drug or sex addiction I could come back and be applauded....”


15 posted on 10/28/2021 11:21:14 AM PDT by Lockbox (politicians, they all seemed like game show hosts to me.... Sting)
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To: marcusmaximus

The production company may duck it’s responsibility through bankruptcy, but I’d be willing to bet that baldwin will still be held financially responsible for his part of this foul up.


16 posted on 10/28/2021 11:23:03 AM PDT by farmguy
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To: marcusmaximus

There’s an LA Times article out today and excerpts are devastating. Things like over 500 rounds found on set. Nobody in charge of checking those guns did so.

I can’t read the article because of the pay wall.

There is an expert experienced armorer on Twitter who wrote a very long but extremely informative thread several days ago about precisely who is responsible on set and protocols. It’s worth a read. If anyone is interested I’ll post it here.


17 posted on 10/28/2021 11:26:59 AM PDT by BlueHorseShoe
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To: Alberta's Child
He should be convicted...Martha Stewart was.

Hmm...If I were the judge...No jail tie.

1000 hours of community service each year for the rest of his life..."Teaching Gun Safety" under the auspices of the NRA. He must teach in every state except Hawaii a minimum of 250 hours.

That's Justice!!

18 posted on 10/28/2021 11:27:17 AM PDT by Sacajaweau
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To: marcusmaximus

I may be wrong here, but I believe your only protection from
having to pay fines from a company, is to wait until the
fine is levied, then declare bankruptcy.

If you declare bankruptcy first, you have no recourse.

I toss this out as a starting point for discussion.

When would be the proper time to declare it to protect
yourself?

Personally, I don’t believe these folks should get any
protections whatsoever. The negligence was extensive.


19 posted on 10/28/2021 11:43:22 AM PDT by DoughtyOne (Democrats, fixing things that haven't been broken, so they don't work, for over 197 years.)
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To: DoughtyOne

Baldwin is reportedly worth $60,000,000 or so. That’s all on the table, bankruptcy or not.

He’s finished. Done. Stick a fork in him.

In a sane jurisdiction he’d already have been charged with manslaughter.

L


20 posted on 10/28/2021 11:46:34 AM PDT by Lurker (Peaceful coexistence with the Left is not possible. Stop pretending that it is.)
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