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16 Feb 2009

Credit Crunch Hedge Fund Killers - Movie Debut

West Palm Beach ( - Playing a hedge fund banker turned killer, Dougray Scott stars in the 'credit crunch' movie: New Town Killers. It being shown for the first time in Scotland tonight as part of the Glasgow Film Festival's fifth anniversary.

Filmed in Edinburgh's streets, according to UK's DailyRecord, the movie is high octane, violent and bloody. New Town Killers was made for only £1 million and with perfect timing, as it has already been dubbed the first credit-crunch movie of 2009.

It shows Dougray as a cold-hearted hedge fund banker who turns killer for kicks, playing a 12-hour game of hunt, hide and seek with underprivileged people, according to the paper.

"In creating a scenario where the well-heeled and privileged prey on the poor and deprived, director Richard Jobson is clearly wearing political concerns on his sleeve in his latest film, and is to be admired for it." Says Michael Hayden, of the British Film Institute, "Yet New Town Killers is not bleeding-heart social commentary, but an ambitious and kinetic thriller, a tension-packed joyride through Edinburgh streets; it is obvious Jobson knows the city well, and that he loves it, he presents it wonderfully."

Also in the film is James Anthony Pearson, Joy Division guitarist and actress Liz White, in debt and playing the banker's game for cash. It also stars Joely Richardson, Vanessa Redgrave, Eddie Izzard, Jason Priestley and Brian Cox as Dougray's dad, Dennis.

Dougray said, "The fact that Jobson wrote this before all the banking collapses is incredible. The film gets a cinema release in June.

- Alexis Akesson

Mexican Hedge Fund Takes Over Canadian Mining Company

Canadian mining, development and exploration company, Frontera Copper Corporation, has agreed, due to the recent downturn in the copper market, to Mexican hedge fund Invecture's hostile take over bid.

After determining that the hedge fund, Invecture Group, S.A. de C.V's, offer was superior to the offer previously received from Southern Copper Corporation, the Company's financial advisor, RBC Capital Markets, said that from a financial point of view, the hedge fund's offer is fair to Frontera shareholders.

Frontera's principal activity is the production of copper cathode from the Piedras Verdes run-of-mine heap-leach copper operation in Sonora, Mexico. Based on the January 1, 2008 ore reserves and the estimated recoverable copper contained on the leach pads at December 31, 2007, approximately 1 billion pounds of copper is projected to be produced over the remaining 17-year life of the operation.