7 Feb 2011

Movie studio shareholder in receivership

8:14 am on 7 February 2011

The majority partner in the studios where productions such as Xena, Whale Rider] and Legend of the Seeker were filmed, is in receivership.

Tony Tay Film Ltd owns 55.6% of Auckland Film Studios in west Auckland.

Auckland Council Investments, a council agency, owns the balance of the shares.

Chief executive Gary Swift says the receivership will not have an impact on the day-to-day running of the studio, which is hired out to film production companies.

Mr Swift says he expects to hear from the receivers once they have looked at the various assets of Tony Tay Film Ltd and its creditors.

He says Auckland Council Investments has not made any decision on whether it would consider buying the remaining shares.