COMPANY TOWN ANNEX
From Times Staff and Wire Reports
Carolco Fails to Make Interest Payments: The cash-strapped producer of big-budget “Terminator 2: Judgment Day” and “Basic Instinct” said it did not make the payments on some senior notes. The company said $13.4 million in principal is outstanding on one batch of notes, with $41.5 million in principal outstanding on another group. It has a 30-day grace period before default occurs.
