On July 1, 2016, Gold Alchemy LLC filed for Chapter 7 bankruptcy protection with the U.S. Bankruptcy Court for the District of Delaware. According to the petition, the debtor’s estimated assets are $10 to 50 million, and estimated liabilities are $50 to 100 million.
Alchemy is a distribution company formerly known as Millennium Entertainment. According to Deadline Hollywood:
Alchemy was an enormous buyer out of the 2015 Cannes Film Festival, acquiring titles such as the Colin Farrell film The Lobster and Nanni Morretti’s Mia Madre. The company was financially healthy when it was known as Millennium Entertainment, however financial straits ensued during the Bill Lee era at Alchemy. Alchemy acquired content distribution outfit AnConnect and Anderson Digital a year ago, saw the departure Lee at the end of 2015, with Alchemy’s Scott Guthrie and Kelly Summers being promoted to co-presidents in an effort to correct the company’s course. Previously Guthrie was COO, while Summers was SVP of strategy and financial planning.
According to the docket, the Section 341 meeting of the creditors is scheduled for July 25th at 10:00 a.m. at the J. Caleb Boggs Federal Building, 844 King Street, Room 2112, Wilmington, Delaware.
The Trustee assigned to the case is George L. Miller. The debtor is represented by the law firm of Morris, Nichols, Arsht & Tunnell. Judge Kevin Gross is presiding over the case.
Carl D. Neff is a partner with the law firm of Fox Rothschild LLP. You can reach Carl at (302) 622-4272 or at firstname.lastname@example.org.