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Saturday, September 01, 2001

Pittsburgh Post-Gazette

Trustee appointed at WRS

U.S. Bankruptcy Judge M. Bruce McCullough this week ruled that an interim trustee will manage WRS Motion Picture and Video Laboratory, which has filed for Chapter 11 Bankruptcy. The trustee cannot interfere with the Crafton production studio's attempts to reorganize but will oversee efforts to return materials such as videos and film reels stored in the company's vaults to WRS clients. The trustee will replace Chicago-based crisis management firm Alex D. Moglia and Associates, which had been appointed to manage WRS by the firm's lender, the National Bank of Canada, whose foreclosure on a $4.4 million loan forced WRS to halt operations.