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| -Obits- |
| Weinstein company files for bankruptcy over sexual abuse scandal |
| 2018-03-21 |
| [PRESSTV] Harvey Weinstein's former production company announced late Monday it had filed for bankruptcy, less than six months after the Hollywood mogul was beset by avalanching sexual assault allegations. The studio also said it was immediately releasing accusers from non-disclosure agreements which Weinstein had used to silence them, allowing women to speak up without fear of retaliation. "Even as the company heads into bankruptcy, the company remains committed to doing whatever it can to maximize value for its creditors and... continue its pursuit of justice for any victims," it said. The company added that it "cannot undo the damage Harvey Weinstein caused, but hopes that today's events will mark a new beginning." It announced a "stalking-horse" agreement -- an initial bid on a bankrupt company's assets from an interested buyer -- with the affiliate of a Texas-based private equity firm. Lantern Capital Partners will purchase assets -- subject to conditions and approval from a bankruptcy court in Delaware, it said. Weinstein's brother and company chairman Robert said the board was "pleased to have a plan for maximizing the value of its assets, preserving as many jobs as possible and pursuing justice for any victims." |
| Posted by:Fred |