Media Insider: Film production firm Stripe Studios (Comedy) Ltd owes $2.25m, including more than $600,000 to US comedian and actress - liquidator’s report
US comedian and actress Iliza Shlesinger has opened up on the Stripe Studios saga: 'My patience has been exhausted.'
US comedian and actress Iliza Shlesinger has opened up on the Stripe Studios saga: 'My patience has been exhausted.'
For the first time, details have emerged of the extent of financial problems behind a film production firm - a liquidator’s report reveals how the company’s managing director and the NZ Film Commission are pointing fingers at each other, while millions of dollars are owed to creditors.
A New Zealandfilm production company has debts of more than $2.25 million - including hundreds of thousands of dollars to its headline star, a leading international comedian and actress, according to a liquidator’s report.
The boss of Stripe Studios (Comedy) Ltd claims a funding agreement U-turn by the NZ Film Commission (NZFC) is to blame for the liquidation - but the NZFC says it “rejects that it is responsible in any way for the financial circumstances” of the company.
American Iliza Shlesinger - who has featured in several Netflix comedy specials and alongside actors such as Mark Wahlberg in films - is among unsecured creditors owed $765,110 by Stripe Studios (Comedy) Ltd, according to the liquidator’s first report into the company.
Shlesinger is understood to be owed the vast majority of this money - well in excess of $600,000.
Her debts are “related to unpaid performance remuneration on a series being filmed by the company”, says liquidator Keaton Pronk.
A further two secured creditors have registered security interests of more than $1.5m against the company - $1,428,902 for Fulcrum Media Finance and $75,477 for Film Finances Inc, according to Pronk’s report.
Shlesinger was in New Zealand last year to film Iliza Shlesinger: This Tastes Funny, a 10-part unscripted travel series produced by Stripe Studios.
Stripe managing director Alex Breingan was listed as an executive producer on the project.
In a statement to the NZ Herald, and in earlier court documents, Shlesinger has outlined her anguish about the situation.
In a court affidavit, she says of her unpaid fees: “We have not received a straightforward answer as to why the Fee has not been paid. Instead we have been met with deflection, excuses, delaying tactics and empty promises from Stripe Studios and Mr Breingan. It has reached a point where my patience has been exhausted.”
The show - which was filmed across New Zealand - has stalled in post-production and has not been screened.
The travel show was produced and promoted by Stripe Studios - but has not seen the light of day.
Stripe Studios (Comedy) Ltd was placed into liquidation in March after a successful application to the High Court at Auckland by Shlesinger.
It is also one of 11 Stripe-related companies that are now in receivership, with Breingan refusing to engage with media, or make any public comment.
The liquidator’s report into Stripe Studios (Comedy) Ltd reveals differences between Breingan and the New Zealand Film Commission, with each party pointing the finger at the other for the financial troubles.
“The liquidators have interviewed the director in relation to the affairs of the business,” writes Pronk.
“The director has advised that the liquidation was the result in a reversal in position by the NZ Film Commission in relation to the pre-approval certificates.
“The liquidators understand from their investigation that there may be deficiencies with the original application to the NZ Film Commission that have caused this reversal in position.”
Comedian Iliza Shlesinger.
The Film Commission told Media Insider it “rejects that it is responsible in any way for the financial circumstances leading to Stripe Studios (Comedy) Limited being placed into receivership and liquidation”.
A spokeswoman said the NZFC had granted a provisional certificate to make a screen production grant (now known as a screen production rebate) to Stripe Studios (Piven) Ltd in July 2023 for a comedy series titled Starting from the Bottom.
Stripe Studios (Piven) Ltd was the name of Stripe Studio (Comedy) Ltd’s previous entity, the spokeswoman said.
“The NZSPG (New Zealand screen production grant) is now known as NZSPR (New Zealand screen production rebate) however the Starting from the Bottom provisional certificate was issued under the previous NZSPG criteria.
“Provisional certificates include the wording, ‘Please note that this is a provisional certificate only and you must apply for a final certificate in order to qualify for a New Zealand grant’.
“Only productions that are issued a NZSPG final certificate qualify for and receive NZSPG funds. After a grant or rebate is made NZFC publishes this information on its website.
“No application for a NZSPG final certificate for Starting from the Bottom has been received by the NZFC.”
The NZFC statement makes no mention of any application for a show called Iliza Shlesinger: This Tastes Funny.
Shlesinger has headlined six Netflix comedy shows, the latest in 2022. She has also featured in 10 films, including Spenser Confidential in 2020, alongside Wahlberg, and Pieces of a Woman featuring Vanessa Kirby.
It is understood that if anyone does buy the Stripe show, rights clearance issues would need to be sorted - Shlesinger’s grant of rights for the use of footage was conditional on the payment of the fee to her.
In her first public comments on the matter, Shlesinger told the NZ Herald she hoped the Stripe Studios show would screen one day.
“It’s a shame such a wonderful project has been stalled because of this issue,” she said in the statement.
“The people we met while filming throughout Aotearoa/New Zealand, from Russell to Bluff, opened up their hearts, businesses and homes to us. So to not get to create the show we set out to make feels like Alex took advantage of their generosity and I hate that.
“I had such an incredible month filming and I hope we can get the show edited and out into the world because Kiwis have a beautiful culture and spirit and I felt so privileged to get to experience that on a travel show. I hope we can share it soon.”
Breingan did not reply to emails this week, requesting comment. An out-of-office message referred all Stripe inquiries to receivers BDO.
Editor-at-Large Shayne Currie is one of New Zealand’s most experienced senior journalists and media leaders. He has held executive and senior editorial roles at NZME including Managing Editor, NZ Herald Editor and Herald on Sunday Editor and has a small shareholding in NZME.
