Luxembourg-based production company Paul Thiltges Distributions has been declared bankrupt, it was confirmed on 6 March by the commercial court.
The company, founded in 1993, reportedly received approximately €20 million from the National Film Fund over the past decade, according to a parliamentary question tabled by Pirate Party MP Marc Goergen. The figure stems from a previous parliamentary inquiry into the Film Fund’s activities.
Speaking to RTL, producer Paul Thiltges confirmed that he is now cooperating with the court-appointed receiver, Marie-Laure Carat. Thiltges stated that both financially and personally, “a lot is at stake,” and declined to speak further to the press at this stage. He added that he is working closely with the receiver to do everything possible to avoid greater damage.
The bankruptcy has prompted political scrutiny. In his parliamentary question addressed to Minister for Culture Eric Thill, MP Goergen is seeking clarity on several points. He wishes to know the total amount of state funding the company received, how much has already been repaid, and what will become of the rights associated with the films it produced.
According to information from Radio 100,7, the production company is still awaiting a payment of approximately €1.7 million from an Italian partner. It remains unclear whether this outstanding payment is the sole cause of the bankruptcy. Meanwhile, the online news site Virgule has reported that the company’s financial difficulties may date back to 2023, following the liquidation of Fortuna Bank, where Paul Thiltges Distributions had taken out a loan.
Over its three decades of operation, Paul Thiltges Distributions built a reputation as a key player in Luxembourg’s film industry, often serving as a co-producer on internationally recognised projects.
Erratum
An earlier version of this article incorrectly included several films not produced or co-produced by PTD. The overview has been amended to reflect only the relevant productions.
