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ZOETROPE CORPORATION, ZOETROPE PRODUCTIONS AND FRANCIS AND ELEANOR COPPOLA SEEK CHAPTER 11 PROTECTION AND FILE JOINT PLAN OF REORGANIZATION

 ZOETROPE CORPORATION, ZOETROPE PRODUCTIONS AND FRANCIS AND ELEANOR COPPOLA SEEK CHAPTER 11 PROTECTION AND FILE JOINT PLAN OF REORGANIZATION
 SAN FRANCISCO, June 30 /PRNewswire/ -- Zoetrope Corporation, Zoetrope Productions and Francis and Eleanor Coppola today filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the Northern District of California, San Francisco division. At the same time, the debtors filed a joint plan of reorganization.
 Coppola said, "This bankruptcy filing closes the book on a complicated, decade-long series of financial and legal problems arising from the making of One From the Heart in 1982. It will finally let us resolve all remaining debts and obligations stemming from this film and enable me to focus my attention on current projects."
 The bankruptcy filing does not affect American Zoetrope, Coppola's successful film and television production company formed in 1991. American Zoetrope has a non-exclusive first-look agreement with Columbia Pictures and a full slate of film and television projects in production and development including the eagerly awaited Bram Stoker's "Dracula," directed by Coppola and starring Gary Oldman, Winona Ryder, Anthony Hopkins and Keanu Reeves. "Dracula" will be released by Columbia Pictures at Thanksgiving.
 The proposed plan of reorganization provides for full payment of most claims, with the treatment varying by class of claims. The largest creditor of the debtors will receive newly issued shares of capital stock of the two corporate debtors in exchange for its claims.
 -0- 6/30/92
 /CONTACT: Andrea Priest or Betsy Kenny of Ogilvy Adams & Rinehart, 212-557-0100/ CO: Zoetrope Corporation ST: California IN: ENT SU: BCY


PS -- NY094 -- 5382 06/30/92 17:45 EDT
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Publication:PR Newswire
Date:Jun 30, 1992
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