Helkon Media's production subsidiary Kinofilm Muenchen Filmproduktion and the Vienna-based associated company Helkon Media GesmbH have become the latest divisions of the bankrupt German media group to file proceedings for insolvency.

Kinofilm Muenchen Filmproduktion, which produced such films as Hans-Guenther Buecking's Die Haeupter Meiner Lieben and Peter Gersina's Vienna, submitted its application to the local court in Munich on December 16. Meanwhile, Helkon Media GesmbH - a 100% subsidiary of Kinofilm Muenchen -filed for insolvency proceedings at Vienna's commercial court last week.

The filing for insolvency of the Helkon Media mother company was originally made in August with the proceedings being officially opened at the beginning of October.

Meanwhile, another insolvent Helkon subsidiary, Peppermint GmbH, has been saved from oblivion through a takeover by the financing-merchandising group Greenlight Media. The outfit has been renamed as Peppermint International.

Still under the management of Peppermint founder Michael Knobloch, Peppermint International will oversee and control the international distribution of all Peppermint and Greenlight properties and on-screen rights.

In addition, as part of a restructuring and refocusing of its activities, Greenlight had sold its interests in its international sales arm Greenlight International and the Berlin Animation Film (BAF) fund to the Dresdner Bank.

Greenlight served as executive producer in collaboration with BAF on seven animation series and Europe's currently largest animation feature project Happily N'Ever After, based on the company's successful SimsalaGrimm TV series.