Gilliam has mentioned that he has Johnny Depp in mind as a modern-day advertising executive who travels back in time.
The screenplay, by Gilliam, Tom Stoppard and Charles McKeown, allows for wildly imaginative production design and some rich, dark comedy.
Suddenly, Gilliam seemed powerless in Hollywood's grip.
Knowing this, the three actors chosen by director Terry Gilliam to complete Ledger's final role - which was filming at the time of his death - Johnny Depp, Jude Law and Colin Farrell decided to step in.
The film was put on hold, while director Terry Gilliam decided how he was going to finish out the film without one of its stars.