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Member Alert: Procedures for Re-issuance of Returned MGM Residuals Checks
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On November 3, 2010, MGM filed a voluntary bankruptcy petition with the United States Bankruptcy Court. Due to technical issues relating to the bankruptcy process, MGM bank accounts were briefly frozen for a period spanning November 3 and November 4, 2010. During this period, MGM checks were not honored upon deposit and therefore may have bounced. The company intends to honor all past and future obligations arising under Guild collective bargaining agreements, and is already taking steps to do so, even while in bankruptcy.   

IF YOU HAVE A RESIDUALS CHECK DRAWN ON MGM THAT BOUNCED DURING THIS PERIOD, PLEASE CONTACT SAG AT (323) 549-6074 TO FIND OUT ABOUT PROCEDURES FOR RE-ISSUANCE OF A NEW CHECK AND REIMBURSEMENT FOR PROPERLY DOCUMENTED BANK FEES INCURRED BY RETURN OF YOUR CHECK. MGM has agreed to issue new checks and reimburse you for such fees, and we do not expect you will have any problem with these new checks. If you have a returned check, please return that check to the SAG Residuals Department, Attn: MGM Returned Checks, 5757 Wilshire Blvd., Los Angeles, CA 90036-3600, along with a copy of any bank documentation demonstrating fees paid by you with respect to this returned check. The Guild will coordinate with MGM and expects that a new check – along with fee reimbursement – will be sent to you within the next several weeks.