MCEG Debt Talks Continue: Management Company Entertainment...
From Times Staff and Wire Service Reports
MCEG Debt Talks Continue: Management Company Entertainment Group, which is behind on repayment of a $72.5-million loan and $1.4 million in debenture debt interest, continued discussions with its chief creditor, GE Capital. The company expects to receive another extension from GE, which also has the option of forcing the Santa Monica-based company into bankruptcy. MCEG is best known for producing “Look Who’s Talking.” MCEG’s British subsidiary, Virgin Vision Ltd., also received a $5-million loan from GE for use as working capital.
