Gold Tree Studios, a subsidiary of Gold Tree, has filed for Chapter 11 bankruptcy despite securing $1 billion in financing from Malka Group earlier this year. The bankruptcy filing reveals assets between $100,000 and $500,000 and liabilities between $1 million and $10 million. Gold Tree Studios, known for its editing suites and upcoming film featuring Al Pacino and Jessica Chastain, is headquartered in West Hollywood. The silence from Gold Tree and Malka Group adds uncertainty to the situation, leaving industry insiders and investors in suspense as they await further developments.

Read more at Yahoo Finance: This Hollywood Startup Raised $1 Billion Before Its Stunning Bankruptcy Filing, Here’s Why