IATSE MEMBERS:
The IATSE has filed a blanket Proof of Claim with respect to all monies owed under the collective bargaining agreement. If any union member believes they have any claims other than arising under the collective bargaining agreement, then they should file their own Proof of Claim accordingly.

UPDATE ON CREDITORS MEETING:
A Creditor's Meeting was held on April 11 in Los Angeles. Craig Rice, Jared Yeater, several attorneys and other creditors attended this meeting. Propaganda, however, did not attend the meeting, claiming that they had not received due notice. Therefore, they were channeled into the meeting via conference call and another LA meeting was scheduled with Propaganda on April 24, the same day of the scheduled Propaganda/Weiden & Kennedy hearing. Craig Rice will be attending this April 24 meeting.

What we found out:
Propaganda initially owed Wells Fargo $2 million but has recently brought that debt down to $700,000. It seems that Propaganda has $1 million left in assets, which means that after the Wells Fargo payment, there will be only $300,000 left for all other creditors. Creditors include Entertainment Partners, 150 Propaganda employees, unions, Liberty Livewire, our community and several others.

We will know more after April 24. Please stay tuned.

Click here to see previous updates concerning Propaganda