VARIETY REPORTS ON AXIUM BANKRUPTCY
Variety has posted its story on the Axium bankruptcy, which we wrote about in the blog post below. Their story has a couple of quotes from affected parties — a director, Charles Matthau, who says he is owed $75,000 of his director’s fee on an indie film, and a production executive who comments on the loss of the long-term accounting and record-keeping functions of Axium’s software.
Earlier in the day I talked with an indie distributor who used Axium to pay SAG and DGA residuals on the company’s DVD releases. The DGA had called him and told him to cancel any checks he had recently written to the payroll company. He was hoping the SAG residuals he had just paid through Axium had reached the guild and wondered what would happen if they had not.
A SAG rep talks to Variety and gives the answer:
Duncan Crabtree-Ireland, SAG’s deputy national exec director and general counsel, said in a statement, “Screen Actors Guild is investigating the situation and will take every action possible to protect the interests of our members. While we are closely following the status of Axium, it is important to bear in mind that payment to talent is ultimately the responsibility of the employers and not the payroll companies they choose to engage.”