From Susie Labry to All meetup Members - News Articles Re Axium
Payroll Bankruptcy

Variety Magazine
http://www.variety.com/article/VR1117978721.html?categoryid=18&cs=1

[QUOTE]

Axium files for bankruptcy

Failure hits biz in paycheck

By JUSTIN CHANG, MICHAEL FLEMINGAxium Intl., the entertainment
industry's third-largest provider of payroll and accounting
services, has closed unexpectedly and filed for Chapter 7
bankruptcy.

Axium shuttered operations Tuesday, a day after its lenders froze
the company's bank accounts. Immediate impact was unclear, but some
of the frozen funds included paychecks for film projects.

Director Charlie Matthau told Daily Variety that much of the money
he was owed on the recently completed indie drama "Baby O" was
frozen Tuesday.

"I was supposed to go pick up a $75,000 check from the DGA, until
they told me there was this problem, that Axium had gone out of
business and all the accounts were frozen, " said the helmer, son of
the late Walter Matthau. "I feel totally violated, and I'm hoping
that the Guild will be able to help me."

Matthau said Axium notified him recently that the money had been
wired into his account.

"In fact, they'd done no such thing, and they were hiding this 400-
pound gorilla of bankruptcy," he added. "Because of that memo, I
hope that the City Attorney or District Attorney looks into this. It
has affected me and likely a whole lot of other people."

A Chapter 7 bankruptcy filing is designed to govern the liquidation
of company assets. Axium reps were not available for comment
Tuesday, and the headquarters offices on Wilshire Boulevard were
shuttered.

Axium president Ruben Rodriguez had left the firm. Axium employees
were told Monday not to come to work until further notice, and if in
contact with their clients, to tell them that Axium could no longer
process their business.

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."

Axium's recent work included providing the payroll services
for "Grace Is Gone," "The Savages," "Feast of Love" and "Babel."

A veteran accountant at a production company who regularly used
Axium for projects said he was completely stunned by the bankruptcy.

"I never saw this coming or imagined that this could happen," the
exec said. "Axium had a terrific budget system, and software that
allowed you access to records for all of the productions you did
over the past several years. If that software is frozen, I don't
know what I'm going to do."

Links posted in this story:Charles Matthau, Feast of Love, Ruben
Rodriguez, Screen Actors Guild, The Savages, Walter Matthau

(Dave McNary contributed to this report.)

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Backstage West:
http://www.backstagewest.com/bso/news_reviews/la/article_display.jsp?
vnu_content_id=1003694130

[QUOTE]

SAG Looking Into Axium

January 08, 2008
By Lauren Horwitch

The Screen Actors Guild has responded to reports that leading
entertainment-industry payroll company Axium International has shut
its doors and filed for bankruptcy.

"We have been told that Axium has ceased operations and filed for
bankruptcy protection," Duncan Crabtree-Ireland, SAG deputy national
executive director and general counsel, wrote to Back Stage via
email. "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."

Reports of the company's offices in Los Angeles and Burbank, Calif.;
New York; Vancouver, British Columbia; Toronto; and London closing
began this morning. Axium employees were told via email not to show
up to work starting Tuesday. Sources told The Hollywood Reporter
that company president Ruben Rodriguez was no longer with the firm.

In addition to providing payroll services for film and TV studios,
the company also provided such service for Broadway and theatrical
productions.

[UNQUOTE]

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Other Articles:
Defamer Article:
http://defamer.com/342441/breaking-hollywood-payroll-company-axium-
declares-emergency-bankruptcy-studios-may-be-out-big-bucks

Filmmaker Magazine:
http://www.filmmakermagazine.com/blog/2008/01/breaking-news-axium-
payroll-shuts-down.php

Susie Labry
lasunshinebr@...