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Swiss Firm Crédit des Alpes Launches Cost-Cutting Online Film Bond Division (EXCLUSIVE)
Swiss financial firm Crédit des Alpes is launching an online film bond division to provide cost-cutting opportunities to indie producers.
If a movie runs over schedule or over budget, the completion bonder pays to finish the film or makes the decision to abandon production and repays the investors who financed the project. The platform can also be used to “make payments to all different parties,” said Ifé Adebajo, The Film Bond’s VP of U.K. and Europe who described the tool as “a one-of-a-kind central piece of technology.” Crédit des Alpes, which is headed by Italian banker Fabrizio Cerina, claims they have roughly two dozen films that have boarded The Film Board, including “Bunny-Man,” an offbeat superhero movie being shot in Italy featuring a cameo by former heavyweight boxing champion Mike Tyson and produced by Andrea Iervolino through his TaTaTu shingle.
Or read this on Variety
