Peter Banning (Williams) is a grown man who has utterly forgotten he was ever a child. Uptight and stern, he lives in denial of who he once was - Peter Pan - until Captain Hook (Hoffman) kidnaps his children. He must journey back into Neverland, and with the help of Tinkerbell (Roberts) and the Lost Boys, rescue them.
Lacking all the hallmarks that made Spielberg the perfect choice in the first place, this bloated spin on J.M. Barrie - a grown up Peter Pan (WIlliams) tries to reclaim his inner child - remains the lowest point in the director's canon. There are still many pleasures - the pre Never Never Land sequences are crisp and effective, it is uniformly terrific to look at - but the reinvention of The Lost Boys as Sesame Street ruffians, the under utilised star power and the slapstick that dominates the final showdown are all unforgivable. What's more, Spielberg inserts a classic telling of the Pan yarn that reminds you how great it could have been. A huge disappointment.
How did such a dream project on paper turn out so wrong. It should remain one of the great mysteries of cinema. The less said about this one, the better. For Spielberg completists only.