Rhythm & Hues, the special effects company that worked on the “Life of Pi” has found a party interested in buying the company out of bankruptcy. JS Communications Co., a South Korean Media company, has put in a bid to buy the company. The bid would assume about $16 million in debt in addition to paying approximately $1 million toward other liabilities. The agreement would require bankruptcy court approval prior to taking effect.

For more read, “Bankrupt ‘Life of Pi’ Special Effects House Finds Bidder.”