Entertainment attorney and producers rep Mark Litwak has resigned as chairman of Reelplay.com, an internet virtual marketplace for buying and selling film rights.

The resignation comes after a series of lay-offs last week at Reelplay which was launched in Oct 1999 as a showcase of film trailers, promotion reels, synopses, stills, credits and key art.

"I have enjoyed my time with Reelplay and wish the company the best of luck in all its endeavours," said Litwak in a statement. "I now intend to devote my energies to my law practice and to completing my sixth book which is about financing and distributing independent films." Litwak remains a shareholder and adviser to the company.