Cinefex has announced that ILM will be working on a live action version of Peter Pan. Scott Farrar, who has just completed Minority Report, will supervise the VFX of the film.
It will be directed by P.J. Hogan, who has directed outstanding comedies like Muriel's Wedding and My Best Friend's Wedding. The film is slated for a November 2003 release. Here is the info:
Thanks to vfx fan for the pointer.