Inferno International, an executive producer on the upcoming Brad Pitt drama "Killing Them Softly," filed for bankruptcy protection last week in Los Angeles.
The company, which has also produced "The Kids Are All Right" and "Missing William," cited a legal judgment related to the 2005 release of the Ryan Reynolds comedy "Just Friends" as the reason for the filing.
Inferno has been involved in litigation regarding financial losses associated with"Just Friends." Inferno said it is appealing a ruling that left it on the hook for millions of dollars.
"The filings were necessary to protect the value of the companies and to restructure operations in those entities while the appeal can be decided," Inferno said in a statement to The Wall Street Journal, which first broke the news.
In its filing, Inferno lists the Screen Actors Guild, the Writers Guild of America, the Directors Guild of America, IATSE and American Express among its creditors. It also lists Alan Mann, a former partner who has been engaged in the legal battle over "Just Friends," as a creditor.