Before MGM's financial trouble they were looking into having Darren Aronofsky direct a reboot of Robocop. Of course, Darren Aronofsky went on to direct Black Swan and is now working on a new Wolverine film, so it seemed unlikely that his version of Robocop was going to move forward.
Since MGM recently recovered from their financial problems, they have been on the looking to leverage their top franchises and Deadline is reporting that MGM has approached Brazillian director Jose Padilha to direct a reboot of Robocop:
"MGM has targeted Robocop as its first major franchise play, and they worked hard to find a filmmaker who could play on a global field. They were impressed by Padilha's track record with taut crime dramas Elite Squad and a sequel that came out in 2010."
It does not appear this deal is set in stone, but we now know that MGM is actively pursuing directors and talent to get this remake off the ground quickly.