Disgraced blockbuster filmmaker John McTiernan is hoping to make a major comeback with a new film starring John Travolta.

The Predator and Die Hard director, who was jailed for his part in the Anthony Pellicano wiretapping scandal, revealed his professional plans to a judge during a bankruptcy dispute with bosses at First Interstate Bank, who want to foreclose on his ranch in Wyoming.

MCTiernan, who spent 10 months behind bars after pleading guilty to lying to law enforcement officers investigating him for hiring private eye Pellicano to wiretap a producer, is battling to save his home and declare bankruptcy, and, during a hearing on Wednesday (27Aug14), the director told U.S. Bankruptcy Judge Peter MCNiff all about his comeback plans.

In a bid to prove he'll soon be cash rich again, MCTiernan's lawyer revealed his client has "north of $2.5 million on the projects he has on the table," adding, "One of them is sealed and in the bank," according to The Hollywood Reporter.

Testifying in court, the moviemaker said, "I want to re-establish my career and rebuild my life."

He revealed he has completed work on three screenplays and the "sealed" deal is a film called Warbirds, which will star Travolta and potentially feature Johnny Knoxville and Queen Latifah, who have been offered roles.

An executive at Hannibal Pictures, the company behind the film, has confirmed the project has been given the go ahead.

MCTiernan added, "They (producers) offered (me) a million so far (to make the film), my agent is still hoping to get one million and a quarter."

The director also revealed he is trying to convince producers on another potential project not to hire Arnold Schwarzenegger, explaining, "It's a bad idea. I have to convince them not to."

And it seems his movie talk impressed the judge, who stated, "It is very interesting to hear you", as he stepped down from the witness stand.