Hundreds of Canadian creditors out millions as werewolf movie frozen by insolvency

After months of anticipation, the much-awaited film adaptation of the first novel in the Wolves of Mercy Falls series, Shiver, has hit a roadblock. The production company, Mercy Falls B.C. Inc, has been forced into insolvency, leaving hundreds of Canadian creditors out millions of dollars. The financial woes that have plagued the film have put a halt to its release, leaving fans and creditors in limbo.

The battle between the producers of Shiver and the U.S.-based studio that pledged $20 million for the movie has been laid bare in court proceedings. Jeanette Volturno, the president of Mercy Falls B.C. Inc, claims that the studio has only paid $11 million of the agreed-upon amount and that the funds were often late and piecemeal. This lack of funding has caused a crisis, with the production unable to pay its vendors and creditors, bringing production to a standstill.

The film, which stars Maddie Ziegler and Levi Miller, began production in August 2024 and wrapped up principal photography in December, only to be derailed by financial issues. The post-production phase, which includes film editing, sound editing, and visual effects, remains unfinished due to the lack of funds. The film was originally set to be released in July 2026, but its future now hangs in the balance.

The creditor protection process has been initiated to give the production company breathing space while it restructures or finds financing to pay off its debts. A third-party monitor has been appointed to oversee the company’s finances, but Ryan Hamilton, the director of the U.S.-based studio, has objected to the proposal for creditor protection. Hamilton claims that his studio owns the intellectual property rights to the film and intends to complete and sell it in the future.

The court documents reveal that the production company owes millions of dollars to various creditors, including the City of Vancouver and the Canada Revenue Agency. Creditors like Wendy Cohen and Mark Hirschi have expressed frustration at the lack of payment, with Hirschi stating that the financial problems surrounding Shiver have had a significant impact on the local film industry.

As the battle over the financing of Shiver plays out in court, the fate of the film remains uncertain. Fans are left wondering if they will ever get to see the much-anticipated adaptation of the popular book series. Only time will tell if Shiver will rise from the ashes of insolvency to see the light of day.