Gold Tree Studios Declares Bankruptcy

WEST HOLLYWOOD—On Tuesday, December 9, Gold Tree Studios, a Hollywood post-production company, filed for Chapter 11 bankruptcy. Gold Tree Studios was founded three years ago by the entrepreneur Tim Chonacas and deceased film producer William Immerman. Its flagship location is located on the Sunset Strip. According to its bankruptcy filing with the federal California bankruptcy court, Gold Tree Studios is filing under Subchapter V of Chapter 11. This is because it has filed as a small business. In addition, it has between 1 and 49 creditors, and the company also possesses between $100,000 and $500,000 in assets, as well as $1 million and $10 million in liabilities. Gold Tree Studios is one of several subsidiary companies that comprised of the studios parent company, Gold Tree. The studios bankruptcy filing does not indicate the cause of the studios financial situation.   By Daniel Diquinzio