Kavanaugh's studio filed for bankruptcy on Thursday (30Jul15), throwing a number of upcoming movie projects into jeopardy, and he has now revealed the move came at a very difficult time because his expectant partner, model Jessica Roffey, has been in hospital suffering complications with her pregnancy.

He tells The Hollywood Reporter, "My wife has been in the hospital for a month. I'm watching two babies of mine go through hard times. It's almost surreal because on one hand I'm having a doctor tell me, 'I don't know what's going to happen to this baby,' and on the other hand I'm having my lawyers telling me, 'I don't know what's going to happen to this baby.' But in my lifetime, everything has happened for a reason."

Kavanaugh goes on to declare he is committed to saving his film company and hopes it can emerge from the bankruptcy proceedings.

He adds, "I can't really comment on the bankruptcy. I can just say it's the beginning of the bankruptcy, and that's not going to be the end. A lot is going to happen... Am I sorry? Of course I am. This company should not be in bankruptcy."