Prospect Park Files For Bankruptcy; Owes Erika Slezak $205,000 and ABC $1.7 Million





The plot thickens in the ongoing saga of Prospect Park. On Monday, the company announced they have filed for Chapter 11 bankruptcy. According to The Hollywood Reporter, the company cites owing ABC $1.7 million.


The law firm of Andrew Kurth  is reportedly owed over $750,000. Lavely & Singer is owed $112,000. Both firms are representing the production company in their lawsuit against ABC. Actress Erika Slezak is reportedly owed $205,000.

Prospect Park lists in their filing, $50 million in assets and at least $10 million in liabilities. PP also owes the Screen Actors Guild $86,000, $50,000 to the Directors Guild and $76,000 to showrunner Brenda Hampton

 

31 Responses

  1. Profile photo of samIShot
    samIShot

    How dare they screw Erika Slezak of all people!!!!!
    Anyone wondering why they are suing ABC over this ridiculous character story, this is why.
    Now can they please just give up so we can sub James Franco in for RH, kill Franco, and bring Todd Manning back to town.

  2. Profile photo of DonnyA2001
    DonnyA2001

    WOW! That is nuts! I guess the shows belong to ABC again? Can we now get rid of awful Franco and bring RH back as Todd? I actually buy Todd and Carly together. As much as I’d love to have John McBain back on GH, the character of Silas is in much too deep story wise…I like Silas’s connection to Caleb.

    As for Kristen Alderson, if they HAVE to use her I’d much prefer Kiki hit the road and Starr come back, but I honestly would get rid of her completely. I’d bring on Serena (preferably) or Christina Baldwin for Michael’s new love interest.

    Or better yet ABC-bring back OLTL and AMC in some way or fashion :)

  3. Profile photo of prenest
    prenest

    Am I missing somthing, if PP has $50 million in assets with $10 million in liabilities why file for bankrupcy?

    Would you not sell off assets to pay the liabilities, and give Erica her money?

  4. Profile photo of FoxyMegan
    FoxyMegan

    [quote=prenest]Am I missing somthing, if PP has $50 million in assets with $10 million in liabilities why file for bankrupcy?[/quote]

    You’re right. The numbers don’t add up (unless you reverse them).

  5. Profile photo of gslam
    gslam

    [quote=FoxyMegan]I hope she unleashes Niki Smith on those bastards.[/quote]

    This.

    Thank you, FM! :D

    Prospect Park and all of their shenanigans (is there a better word for all of this?) are all such a joke. Pitiful. What’s sad is that they destroyed the legacy of OLTL in a stupid bid to be “hip” and “relevant.” Those are more than buzzwords, they require substance. And OLTL was anything but substantive in the new version.

    And how could you owe the QUEEN of OLTL THAT much money?!? What a joke!

  6. Profile photo of Yoryla
    Yoryla

    Well no surprise here. I hope this will finally start to spell the end of the non-sensical lawsuit with ABC and PP.

    However, I don’t think Todd, John and Starr would still be returning. It is more likely that they can at some point be mentioned again. But a return is something I cannot see in the future.

  7. Profile photo of Bob Lamm
    Bob Lamm

    Weren’t we told again and again in these discussions how Prospect Park really had it together, how each successive fiasco really wasn’t that bad, how those of us who were critical of Prospect Park were wrong?

  8. Profile photo of soapjunkie88
    soapjunkie88

    [quote=Bob Lamm]Weren’t we told again and again in these discussions how Prospect Park really had it together, how each successive fiasco really wasn’t that bad, how those of us who were critical of Prospect Park were wrong?[/quote]
    Yeah we were all haters who were critical at one point of the company that couldn’t handle budget, schedule or contracts. Prospect Park has been a train wreck since the very beginning.
    Their first attempt to bring back AMC and OLTL that failed so miserably after ABC created cliffhangers for both shows should have showed much more people that these guys are in over their head.

  9. Profile photo of kbirdusa
    kbirdusa

    They were idiots for choosing to put on a soap at all. Let’s take two shows that are in decline with tiny ratings, belonging to a declining genre, and revive them online with four new shows a week.

    How moronic.

  10. Profile photo of soapjunkie88
    soapjunkie88

    [quote=Bob Lamm]We weren’t all haters or critical. Some people here defended Prospect Park endlessly.[/quote]
    I meant those who were critical of PP with “we all”. ;) I know that there were some who defended PP to the very end.

  11. Profile photo of Bob Lamm
    Bob Lamm

    We weren’t all haters or critical. Some people here defended Prospect Park endlessly.

    Meanwhile, I totally missed what’s really important. If Prospect Park goes into bankruptcy, that will ruin my $700 billion lawsuit against them for… well, I can’t remember what it’s for, but it’s got to be as valid a lawsuit as theirs against ABC.

  12. Profile photo of jsg03jd
    jsg03jd

    Chapter 11’s are very common especially in this economic climate. Marvel Entertainment went through it once or twice I think.

    The company likely does not have enough liquid assets or cash on hand to service its debts and obligations, hence this Chapter 11 filing. Either the company will reorganize and emerge from Chapter 11 with a cleaner balance sheet or it could liquidate and sell itself to interested parties during the bankruptcy proceedings.

  13. Profile photo of stefanstavros
    stefanstavros

    All I want out of this is for OLTL rights to revert back to ABC so Frank and Ron can bring back Todd and other fan favorites. And I LOVE Erika Slezak as much as any devoted fan, but 200k is a drop in the bucket for her, I’m sure. Of course she deserves to be paid, but that woman has made so much $ over 40 years that I’m sure she’d be set even if she lived to 100. Once again, I’m not saying she doesn’t deserve her pay, so don’t go ballistic whoever…LOL

  14. Profile photo of ANGELWENDY15
    ANGELWENDY15

    Loved all your comments especially releasing Nicki Smith at PP. I could just see her now-Ha!!! Erika is a daytime icon, of course she wants the money entitled to her. Also read Robin Strasser is after them for her salary. These are two strong women who were icons on soaps for years and years. Hope they fight for what they deserve.

    I’d love for Todd Manning to return. The whole Franco character just hasn’t worked because of James Franco’s original performance of the character. He was a total pyscho, with no feelings or emotions. I hated his character. I have always liked Roger H. and as evil as Todd was, you always somehow felt sympathy for him because of Roger’s take on the character. I doubt it will happen but still liked Roger best as Todd.

  15. Profile photo of Bob Lamm
    Bob Lamm

    @Jillian Bowe Does your comment mean that you don’t think my $700 billion lawsuit against Prospect Park looks like a winner? :-)

    My attorneys, whom I found through the latest edition of DUMMY LAWYERS FOR DUMMY CLIENTS, have assured me that at a minimum I can get Prospect Park to settle for $400 billion.

  16. Profile photo of FoxCrane
    FoxCrane

    [quote=gslam]
    And how could you owe the QUEEN of OLTL THAT much money?!? What a joke![/quote]

    My guess is that ES could have been one of the few, maybe only, actor on OLTL that got some kind of guaranteed episode count over a far more extensive period of time (like a year or something), more like a standard daytime contract for a vet of her stature. And perhaps this $250K adds up to what remains of her “future” guaranteed salary. IOW, she’s already been paid for what she performed in, but this would represent what remains on her extended contract. That’s my guess. And given that production ceased, they might have to pay her this in a lump sum. (But actually, taxwise, I’m thinking it could be to her benefit, if payments were spread out.) – jmho

  17. Profile photo of Yoryla
    Yoryla

    [quote=kbirdusa]They were idiots for choosing to put on a soap at all. Let’s take two shows that are in decline with tiny ratings, belonging to a declining genre, and revive them online with four new shows a week.
    How moronic.[/quote]

    How funny it is to see a comment like this, while there are people in another thread chastising Anne Sweeney for wanting to cut those shows in her time.

    And as a clarification, I agree with you.

  18. Profile photo of blake3b
    blake3b

    I agree that Todd Manning needs to be back and Franco be gone. Seems ME is fine as Silas, though I liked him better as the cop. I’d rather have Starr Manning than Kiki also.

  19. Profile photo of dsmwmn
    dsmwmn

    [quote=DaytimeFan0001]I agree, a complete fail. Who ran this business? One minute there are billboards on Sunset Blvd, and the next Slezak can’t get 200k in earned wages?[/quote]

    PP probably owes the billboard company too. It seems they didn’t pay anyone. Makes me wonder if the shady buggers were promising folks “lawsuit money.”

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