Its been a long time since I have heard anything about this project until HorrorView posted up this update about casting. It appears that Tony Todd and Robert Englund have hopped on board joining Kane Hodder. Initially the site had listed Bill Moseley as another to join the cast. But Dread Central looked a little deeper and discovered that his deal had fallen threw. He is being replaced by Richard Riehele.

Hatchet is a story of a boy, Victor Crowley, who is stuck in a burning house. When his father finds the house ablaze he runs for a hatchet and proceeds to chop the door down. Little does he know that his son is pressed up against the door trying to get out and the hatchet hits him directly in the head. Years later his father died and than stories began to circulate that late at night you could hear Victor Crowley crying out for his father.
You can check out the official website where they have a journal that is ocasionally updated by the director, Adam Green. There is also some interesting info on some of the other cast and crew as well.