Films to be Auctioned: A major lender...

Films to be Auctioned: A major lender to Color Systems Technology announced plans to sell more than 80 motion pictures used as collateral, including “Black Beauty,” “Kit Carson,” “The Last of the Mohicans” and “8 1/2.” According to a legal notice, General Electric Pension Trust will auction the film titles June 12 because Color Systems defaulted on its borrowing agreement. Color Systems, a Marina del Ray firm that converts black-and-white film to color videotape, notified shareholders in March that it had missed recent debt payments and hoped to restructure its debt of $21 million, of which about $15 million was owed to General Electric Pension Trust.