London Savoy Hotel Sees Risk Of Loan Violations

BFI London Film Festival Kicks Off With ‘Captain Phillips’

our editor recommends ‘Captain Phillips’: Tom Hanks Reflects on Somali Culture at L.A. Premiere The movie, which stars Hanks as the titular captain of a U.S. container shipthat was hijacked off the Somali coast in 2009, heralded the beginning ofthe 12-day movie jamboree from the British capital. At the opening ceremony, which was beamed around the U.K. to 30 screens live from London’s Odeon Leicester Square, autograph hunters gathered to cheer Hanks, who was accompanied by his wifeRita Wilsonoutside the theater.BFI chief executive Amanda Nevill welcomed the guests and thanked sponsors for their financial support for the festival.Clare Stewart, marking her sophomore edition as the BFI’s head of exhibitionand distribution, took to the stage to welcome Greengrass and company. PHOTOS:On Board With ‘Captain Phillips’: Exclusive Portraits of Tom Hanks and Barkhad Abdi With Hanks starring in both the opening and closing film,Saving Mr. Banks, and the fact he is a producer on Parkland,which will have its own LFF gala — Stewart joked about how next year’s festival may have to create a “Hanks” sidebar. Along with thanking producersDana Brunetti and Michael De Luca, Stewart also thanked Sony for bringing CaptainPhillips to the festival.Stewart introduced Greengrass to the stage with the director immediately bringing Hanks up to applause. “If tonight goes well, I’ll come back,” promised Hanks, who also gave a shout out to the cast and crew in the audience and producers Scott Rudin, de Luca and Brunetti.”We all survived a trip on the SS Greengrass,” Hanks quipped. Greengrass, a Londoner, thanked his dad who was “somewhere in the audience” as the movie began. The 57th BFI London Film Festival, in partnerhship with American Express,will welcome over 500 guests for the 12 day event including over 150directors with over 110 actors in tow for the 235 feature films set to unspool. VIDEO:’Captain Phillips’ Trailer: Tom Hanks Negotiates With Pirates Talent expected to show for the various gala events and festival shindigs includes Kate Winslet, Josh Brolin, Jason Reitman, Tom Hiddleston, Jesse Eisenberg, John Curran, Dane DeHaan, Alex Gibney, Greg Wise, Robin Wright, Ari Folman, Anna Kendrick, Emily Mortimer, Julia Louis-Dreyfus, Charlie Cox, Jodie Whittaker, Christian Cooke, Annabelle Wallis, Tahar Rahim, David Thewlis and Terry Gilliam. The event will also play host to its usual mix of career interviews,masterclasses, and other special events with cast, crew and filmmakers. The festival will close with the world premiere of John LeeHancock’s Saving Mr.

If the financial projections arent met, loans to the company, controlled by Saudi billionaire Prince Alwaleed Bin Talal and a unit of Lloyds Banking Group Plc, could become repayable on demand. The Breezeroad directors said they dont think a covenant breach would have a detrimental impact on the groups ability to operate, according to the filing. Costs could be cut to avoid breaching loan terms or talks with lenders and shareholders could be held to resolve any loan violations, the directors said. The hotel had a pretax loss of 53.5 million pounds ($85 million) in 2012, an 8 percent increase from a year earlier, according to the filing to Companies House describing last years results. Revenue rose about 3.5 percent to 58.5 million pounds last year. Prince Alwaleed Kingdom Holding, an investment company controlled by Alwaleed, and a unit of Lloyds, each own half of the Savoy, according to a statement in April, when the hotels debt was refinanced. At that time, the London hotel was valued at more than 600 million pounds. Kingdom is supporting this asset and has a plan with Lloyds for the hotel, Charles Henry, a spokesman for the Riyadh-based company, said by telephone. Lloyds spokesman Emile Abu-Shakra said the bank remains fully supportive of the management and this iconic hotel. We are confident that the business will continue to trade profitably and that it will be able to meet all creditor payments as they fall due, he said by e-mail. Lloyds is also one of the hotels lenders, he said. Credit Agricole SA (ACA) and DekaBank Deutsche Girozentrale have also provided loans to the Savoy, according to Aprils statement. Representatives of the Savoy declined to comment.