Weinstein Accusers Face Difficult Road to Recovery in Bankruptcy
The deal, however, did not set aside money to compensate Harvey Weinstein's accusers—a key aspect of earlier, and ultimately unsuccessful, negotiations between New York's attorney general and a group of interested buyers.
March 23, 2018 at 05:30 PM
6 minute read
Harvey Weinstein at the Weinstein and Netflix Golden Globes after-party at Beverly Hilton Hotel adjacent on Jan. 8, 2017 in Beverly Hills, California. Photo Credit: Photo: Kathy Hutchins/Shutterstock.com
Victims of Harvey Weinstein's alleged sexual misconduct may be left out in the cold following a deal to sell The Weinstein Co.'s assets in bankruptcy, experts said this week.
The embattled film and television studio on Monday filed for Chapter 11 protection in Delaware with an agreement in place to sell its assets to investment firm Lantern Capital Partners for $310 million, subject to better offers submitted during the fast-tracked proceedings.
The deal, however, did not set aside money to compensate Harvey Weinstein's accusers—a key aspect of earlier, and ultimately unsuccessful, negotiations between New York's attorney general and a group of interested buyers. Instead, the victims are expected to form a committee of unsecured creditors to pursue their interests in bankruptcy.
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