Steven Spielberg and Will Smith's plans to update cult Korean movie Oldboy have been thrown into jeopardy - the original makers of the 2003 hit are allegedly not authorized to grant a remake.

Spielberg and Smith recently secured the rights to adapt director Park Chan-Wook's film from producers Show East.

But Show East filmmakers have found themselves at the center of a lawsuit from Futabasha bosses, the Japanese publishers of the original manga series, who claim the producers were in no position to negotiate with the Hollywood heavyweights and Universal studios.

Seoul-based Show East has since shut down and its executives have ceased all contact with Futabasha, further complicating legal proceedings, which began last week.

A spokesperson for Futabasha says, "We haven't been able to confirm that Show East is bankrupt, and at this stage we're not sure what effect this will have on the legal case."

However, Universal bosses are refusing to halt pre-production on Spielberg and Smith's planned version and have given them the green light to continue work on the forthcoming movie, according to the Hollywood Reporter.

(This news article provided by World Entertainment News Network)