A unit of Eros STX Global Corp. that owns the distribution rights to a forthcoming Gerard Butler disaster movie sequel filed for bankruptcy in Louisiana, court papers show, Bloomberg News reported. FSO Jones LLC, a subsidiary of Eros STX, sought chapter 11 protection from creditors on Monday in New Orleans. The company listed assets of no more than $50 million and liabilities of as much as $500 million in its bankruptcy petition. FSO owns the rights to the sequel of a prior STX film, “Greenland,” according to a company statement. The bankruptcy filing is a bid to protect the project while the film production company works to close its sale of STX to Najafi Companies and address a contract dispute. “Although pre-production of this sequel is going well, we determined that it was necessary for FSO Jones to seek bankruptcy relief to protect the value of that entity for all of our stakeholders while we continue to work toward closing our strategic alternatives for this company,” representatives for Eros STX said in an emailed statement.
