There are reports that troubled American motion picture camera, and lens company Panavision is in default of a 2006 loan.
Hollywood Reporter has published an article stating that the Wilmington Trust, National Association, the successor collateral agent to Credit Suisse, has filed papers in New York state court and says Panavision is $1.7 million past due on an earlier loan from Credit Suisse.
However according to The Hollywood Reporter a Panavision spokesperson has responded stating, “We feel we have a strong position. We’re not worried about it. We are disappointed we couldn’t reach a commercial resolution on the dispute.”
Please catch up on the full story over at The Hollywood Reporter.