Lindsay Lohan Dumped from Film

4/24/2010 1:20 PM PDT

Lindsay Lohan -- Dumped from Film

Lindsay Lohan was axed from a movie because she's not "bankable" -- this according a source connected with the production of the flick.

Lindsay was slated to star in "The Other Side," a movie about a grad student working on a deserted island.

David Michaels, the writer/director, tells TMZ, "Our team simply chose to move on from Lindsay and we'll soon be announcing a replacement."

But sources connected with the film tell us the people financing the film were skittish about relying on Lindsay.

The movie also stars Woody Harrelson, Giovanni Ribisi, Dave Matthews and Alanis Morissette.

And there's this twist ... at one point Brittany Murphy was attached to the movie.

Lindsay's rep had no comment.

BTW -- Lindsay was out at Chateau Marmont and Trousdale last night. Photo of her leaving below. Not too difficult to understand where Mr. Michaels was coming from.