In the wake of production cuts, Montreal-based CineGroupe has filed for protection from its creditors with the Quebec Superior Court. The Dec. 22 filing prevents creditors from taking any actions against the company within the time frame established by the court and allows the animation producer to continue operations as it restructures its debt.

The company significantly reduced production and staffing after delivery of several key projects, including P3K: Pinocchio 3000 and Pig City, season two. Last month, prior to the filing, CineGroupe reported the elimination of about 10% of its 300 contract and full-time positions.

The company is owned and operated by president and CEO Jacques Pettigrew, with Lions Gate affiliate Cinepix holding a 35% stake. Societe generale de financement du Quebec and an unnamed private investor are also equity shareholders. Since the animation house is privately owned, neither the size of debt nor the names of the company’s major creditors is publicly available.

-www.cinegroupe.com