Bond 23

Bond 23 may never get made due to MGM's bankruptcy woes.

What I don't understand is why they won't just sell the rights the distribute Bond films. Is it because they'll have to use the money to pay off creditors? But then do they really expect to not have to sell the rights to creditors when filling for bankruptcy? If they do something is wrong with our courts.

My question is why the Coase Theorem isn't applying here. The transaction cost of selling the right are tiny (just have a second price auction) and the efficient outcome is to start producing Bond 23 ASAP while Craig and Mendes can work on the film. But that isn't what's happening.

And that sucks.