The Weinstein Company Files for Bankruptcy
Weinstein Co’s Attorney, Paul Zumbro, reiterated to the U.S Bankruptcy Court Judge that the bankruptcy filing would in no way protect CEO Harvey Weinstein, who has been accused of sexual misconduct with over 70 women.
Zumbro says the filing will still allow anyone to “pursue civil or criminal claims” against the ex-Chairman. Since September of last year, the company has spent months looking for someone to buy it out. A Texas based private equity firm, Lantern Capital, has agreed to purchase the company out of bankruptcy for $310 million. The company will then undergo a bankruptcy auction later this spring.
The Weinstein Company has also announced that it has released anyone who suffered sexual misconduct from Harvey Weinstein from “non disclosure agreements”. Agreements, Weinstein reportedly used to keep the women he abused quiet.
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Image: The Weinstein Company Logo
