Ill-judged refurbishment of modern studios (13)
I believe the answer is:
misunderstood
'ill-judged' is the definition.
(judged unfairly or misunderstood)
'refurbishment of modern studios' is the wordplay.
'refurbishment of' indicates an anagram.
'modern'+'studios'='modernstudios'
'modernstudios' is an anagram of 'MISUNDERSTOOD'.
(Other definitions for misunderstood that I've seen before include "Failed to comprehend" , "Not correctly comprehended" , "Failed to construe meaning correctly" , "Failed to see the right meaning" , "Read wrong" .)