ReSolve secures buyer for ‘The Chelsea Cowboy’ film

Boutique consultancy ReSolve has helped secure the future of an independent feature-film, after finding a buyer for the production. ‘The Chelsea Cowboy’ was initially put on hold when Life Begins Film ran out of funding, before it could be completed.

Chris Farrington and Cameron Gunn, Partners at ReSolve, were appointed Joint Administrators to Life Begins Film in mid-March. Upon appointment, the professionals held extensive discussions with two competing consortia of existing and new investors who expressed interest in acquiring the British crime film, ‘The Chelsea Cowboy’.

A biopic based on the life of actor, gangster and legendary lothario John Bindon, the film is now in postproduction. Directed by Ben Cookson, a press release from ReSolve suggests the film “showcases some of the country’s best and rising talent”, while IMDb notes the film will star Alex Pettyfer – who has appeared in productions such as Beastly and Magic Mike – and also featuring rapper Plan B – known for hits such as ‘The Sweeney’ and ‘Harry Brown’, and model Poppy Delevingne.

Following complex negotiations with both bidders, the asset was sold to a consortium of investors including the major original investors and a specialist packaging firm, Filmojy.com. The consortium will continue to fund the post-production and delivery of the film.

Chris Farrington, Partner at ReSolve, commented, “We are delighted to have sold “The Chelsea Cowboy” after several months of negotiations, and hope that the purchaser, Heracles Productions Ltd, together with the new funding being brought via the winning consortium, will result in a go-see movie that enjoys the critical and commercial success it richly deserves. Hopefully, the actors and other filmmaking professionals who were involved in the project before the Company’s insolvency will see this as an opportunity to get back involved and deliver a successful finished product that all concerned can be proud of and to everyone’s economic benefit.”

ReSolve negotiated the sale contract to include a percentage of any future profits the film generates after its release, which will flow back to the Company’s original investors and other creditors, as well as a significant voluntary write-down of existing debts owed to the winning bidder’s consortium. The Joint Administrators expect this sale will lead to the completion and “big screen release” of the British crime drama as soon as possible, according to ReSolve.

Tim Sargeant and Jake Seal of winning bidder Heracles Productions, added, “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 are working with our new funder, Dr Richard Wawman of Filmojy.com and with Black Hangar Studios and Studio Orwo on a revised script, completion of missing scenes, plus some new scenes that make it a truly exciting time; with world sales being handled by Orwo Distribution. We hope to release the film next year for the world to see.”