'Reservoir Dogs' star backs funding for British production

'Reservoir Dogs' film star Michael Madsen is raising money through a UK Enterprise Investment Scheme, to finance a London-based film, 'Red Light Runners'.
Madsen will, via his Choctaw production company, co-produce the film with Clark Westerman.
Madsen played Mr Blonde in 'Reservoir Dogs' and is working on a high-budget Western 'Blueberry' and again with director Quentin Tarantino on 'Kill Bill' for release next year.
He plans to film 'Red Light Runners', a crime thriller, at studios and on location in and around London. It will star Madsen, along with former 'Eastenders' and 'The Krays' actor Martin Kemp, Christopher Penn ('Reservoir Dogs', 'Footloose') and Ian Buchanan ('Panic Room', 'Twin Peaks'). Madsen is currently negotiating with Harvey Keitel and Dennis Hopper to appear in the film.
Described by the Hollywood Reporter as a "sociological heist", 'Red Light Runners' revolves around petty criminals from all walks of life, who are manipulated by the film's central character (Madsen) into committing much more serious crimes.
For the scheme to go ahead, the producers have set a £2 million threshold, to be reached by 17 July. If this is not met, then investors will receive their money back. If it is successful, then the company hopes to raise £8 million in total by 15 August.
The EIS structure allows for income-tax relief and CGT deferral relief at the time of investment and returns will be free of CGT, as long as the investment is held for a minimum of three years. ommission will be payable to intermediaries.
Producer and scriptwriter Clark Westerman, who is also managing director of Red Light Runners plc, describes the film as a realistic, mainstream project, which has already won backing from some of the industry's biggest names.
"This is not a minority art film. It is aimed at the UK and US mass markets and it has the benefit of a list of well-known, highly respected actors. Many EIS films projects don't take into account US box office, where a majority of film revenue is derived," he said.
"We also have no intention of making the film for less than our targeted budget as this would negatively impact quality."
'Red Light Runners' will be directed by British music video director Nick Egan, who has worked with Alannis Morrisette, Oasis, Duran Duran, Mick Jagger, INXS, and Kylie Minogue.
Red Light Runners, www.redlightrunners.co.uk
(GMcG)