Important Message to Members Regarding Letters from Axium Bankruptcy Trustee

Important Message to Members Regarding Letters from Axium Bankruptcy Trustee

May 11, 2009

AXIUM ALERT


In the past week, those of you who received payments through Axium in the 90 days preceeding the Axium bankruptcy filing may have received letters from Howard Ehrenberg, the Chapter 7 Trustee for the Axium estates. These letters assert that all such payments must be returned to Mr. Ehrenberg, and that litigation may follow if such payments are not received within two weeks of the letter. These letters are appropriate under the law, but we believe that your wages paid in these circumstances fall within an exception to the legal rule.

Guild counsel has negotiated an agreement with Mr. Ehrenberg; if you notify Mr. Ehrenberg and the Guild that you have received such funds under a Guild contract, your situation will be referred to a separate administrative track. You will need to provide proof tying your payment to specific employment, but you will have a three-month window to do so.

If you have received one of these letters, you can promptly notify Mr. Ehrenberg at axiumtrustee@sulmeyerlaw.com, and your Guild at axiumissues@sag.org that you have received one of these letters, that the payments were paid pursuant to a Guild contract, and that you are participating in the Guild claim resolution process.

While we are not providing formal legal counsel at this time, we are pleased to be able to assist by relieving the time pressure, and hope to provide further information and assistance concerning adequate proof of your situation.

Again, if you choose to pursue this option, please notify your Guild and Mr. Ehrenberg at your earliest convenience. If you have any questions for your Guild, please contact the Axium Bankruptcy hotline at (323) 549-6450.