Penningtons Manches Cooper has advised Heracles Productions Limited, a new venture company established by Tim Sargeant and Jake Seal, on the acquisition of all rights, materials and equipment relating to full-length feature film presently called ‘The Chelsea Cowboy’ from Life Begins Film Limited (in Administration) through its Administrators, ReSolve Advisory.
This deal helps to secure the future of an independent feature-film after ‘The Chelsea Cowboy’ was initially put on hold when Life Begins Film ran out of funding before it could be completed.
The Penningtons Manches Cooper corporate and restructuring team was led by partner and global head of corporate Matthew Martin, with support from disputes senior associate Dominic Speedie. The wider team included specialists- insolvency partner Alex Fox and IP partner Chris Shelley who provided advice ahead of and during the transaction on various commercial aspects relating to ‘The Chelsea Cowboy’.
Tim Sargeant of Heracles Productions, commented, “As one of the film’s original investors I am thrilled we have secured ownership of this incredible film in the making. The whole team had put their hearts and souls into making it another great British film before the untimely administration of its largest single funder. We hope to release the film next year for the world to see. I’d like to thank Alex, Matthew, Dominic and the wider corporate and restructuring team at Penningtons Manches Cooper who advised us on this important acquisition, vital to secure the future of ‘The Chelsea Cowboy’.”
Matthew Martin commented, “It has been great to work with Tim and Jake on this acquisition which has enabled them, as one of the film’s original investors, to continue the production of ‘The Chelsea Cowboy and we look forward to its release next year. This is a further example of our corporate team’s activity in the media and entertainment sector – having also recently advised New Era Music Company, a global record label and media company, on its completed acquisition of Defected Records Ltd.”