By Anthony Breznican
Updated January 11, 2011 at 08:45 PM EST

Image Credit: Karen Ballard; David Gabber/PR PhotosJames Bond’s vacation is over.

After the financial wrangling over the fate of MGM led the family that produces the 007 films to halt development of their 23rd installment last year, the project is back on track with plans for a Nov. 9, 2012 release date, MGM confirms to EW. (Deadline first reported the story.)

Daniel Craig will return for his third run as the superspy. What was more in question was whether Oscar-winning director Sam Mendes, who had been attached to the movie before it was put on hiatus, would still be participating.

The announcement today from MGM and EON Productions confirms Mendes will remain as the filmmaker, with a script from Neal Purvis, Robert Wade and John Logan. EON is run by Michael G. Wilson and Barbara Broccoli, children of the late producer Albert R. “Cubby” Broccoli, who launched the franchise with Sean Connery’s Dr. No in 1962.

Read more:

MGM out of bankruptcy

James Bond back in 2012? Not quite…

MGM takeover by Spyglass officially approved

Is James Bond dead? This week’s EW cover

Daniel Craig officially cast in ‘The Girl with the Dragon Tattoo’

A director royale? The James Bond series may just get handed to Mendes, Sam Mendes