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'Christopher Columbus' Sails Right Past Bankruptcy

May 06, 1992|DAVID WILLMAN | TIMES STAFF WRITER

The return of the Nina, Pinta and Santa Maria apparently will not be stalled by bankruptcy proceedings.

Producers of "Christopher Columbus: The Discovery," a film to be distributed later this year by Warner Bros., have averted a possible involuntary bankruptcy petition, sources said Tuesday.

The producers of "Columbus" have agreed to pay $160,000 to drivers, barge operators, security guards and other small creditors involved in making the movie, according to representatives of the creditors and the producers.

"There has been a resolution of the matter," said Schuyler Moore, an attorney in Century City who represents the producers, Alexander and Ilya Salkind. "From our point of view, it's just simply paying off the creditors."

Moore said the Salkinds, best known for producing "Superman," would not be available for comment.

The Salkinds' promised payment to the creditors is but another twist to what has become a controversy-riddled project. Last month, Marlon Brando, who has a role in the film, told the trade publication Daily Variety that he disagreed with part of the script and had demanded that his name be removed from advertising.

The promised payment by the Salkinds followed demands from the creditors, about 40 of them based in the Virgin Islands and Los Angeles. The creditors said their attorney would file a petition seeking to force the Salkinds into involuntary Chapter 7 bankruptcy unless the money was paid.

"Columbus" commemorates the 500th anniversary of the explorer's arrival in the West Indies. The movie, with a reported budget of $50 million, was filmed in part in the Virgin Islands and is to star Brando, Tom Selleck, Rachel Ward and George Corraface.

Another film related to Columbus' arrival, "1492," is scheduled to be released this year by Paramount Pictures.

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