Advertisement

Cannon Group said it made another overdue...

Share

Cannon Group said it made another overdue interest payment to bondholders, again within the 30-day period allowed before it is considered in default. The latest payment was $2.56 million to holders of notes due Nov. 1. Earlier this month, the Los Angeles film maker paid $11.8 million interest overdue since Oct. 15. The troubled company recently said it received $68 million in advances in mid-November from “a group of companies” related to Interpart, a Luxembourg firm that now owns 50% of Cannon.

Advertisement