Ryan Kavanaugh‘sย ongoing efforts to revive hisย Relativity Studios took another turn as actor Kevin Spacey stepped away from a chairman position at theย company this weekend — a move that could test the patience of U.S. Bankruptcy Court Judge Michael Wiles.
According to court papers filed in New York late Saturday, Relativity Media has assembled $75 million in new financing for its post-bankruptcy life, and executives need approval from Wiles before they can spend it.
The company also acknowledged what has been widely suspected: that it won’t open the Kate Beckinsale drama “The Disappointments Room” on March 25 or the Kate Bosworth thriller “Before I Wake” on April 8 even though both are still on the release calendar.