Taking advantage of their new-found success and status, the couple formed a production company, "Gloria Films", producing the comedy "Three Husbands" with Eve Arden and Ruth Warrick, and the film noir "The Scarf" starring John Ireland and Mercedes McCambridge. Unfortunately, Caspary and Igee forgot the first rule of finance, "never use your own money", and had put all their own funds and savings into the company. Their films were contracted to United Artists, and when United Artists went into bankruptcy and restructuring in 1950, the films of Gloria Films were tied up in litigation and the couple lost everything. Many small production companies went bankrupt as a result of United Artists' troubles – Caspary could not afford to, as she would have lost future royalties for works she had written and any payments for reprints of her books. Igee was devastated at the loss; he never became the bread winner of the couple. In December, Caspary drove to MGM and sold them a story treatment for $50,000 dollars with a 50% advance. In January, she sold them another for $45,000, and in February, sold one to Paramount for $35,000. This last sale, the couple deposited in New York, which was fortunate as it was a long time before they worked again in Hollywood.