With MGM's restructuring plan complete after a $500 million line of credit from JPMorgan, there has been much news made about the studio's move to get both The Hobbit and James Bond 23 into production. But what about the films MGM shelved during its bankruptcy? Not much has been said about those languishing projects, though we have word this morning that Dan Bradley's Red Dawn remake, the most anticipated movie on their halted slate, may finally see a release sometime in 2011.

Red Dawn was shelved indefinitely early this year, at which time Bradley lobbied to have the war thriller picked up by Fox for a November release date. That never happened, and the completed film has sat on a shelf unseen ever since. The story revolves around a ragtag team of high school students who fight to save their town against a Chinese invasion.

With the film gearing up for a potential 2011 release date, it will now be going head-to-head with the similarly themed Tomorrow, When the War Began. Already a hit in Australia and other parts of the world, this adaptation of the John Marsden novel also pits a group of high school students against an invading army.

Those most excited to finally see Red Dawn crawl out of purgatory are the residents of Royal Oaks, Michigan, who participated in the faux invasion of their hometown. Many families were cast to take part in some of the bigger action scenes, and MGM's resurrection plan comes as a sign of hope that they will finally see their hard work on the big screen. The official release date will most likely land in the fall, as MGM isn't expected to fully emerge from Chapter 11 bankruptcy for several more months.