Forums - Movies Discussion - Weinstein Company files for bankruptcy, ends all non-disclosure agreements

U.S. film and TV studio The Weinstein Company, whose ex-Chairman Harvey Weinstein has been accused of sexual harassment and assault, said on Monday it filed for bankruptcy and was ending all non-disclosure agreements that may have silenced some women.

The Weinstein Company filed for bankruptcy in the Delaware court, listing $500 million to $1 billion in liabilities and $500 million to $1 billion in assets, and said it struck a deal with an affiliate of private equity firm Lantern Capital Partners to acquire its assets.

The bankruptcy comes after the studio spent months looking for a buyer or investor. The company inked a deal with an investor group led by former Obama administration official Maria Contreras-Sweet, but the group terminated its offer earlier this month after seeing that the company had more liabilities than previously disclosed.

The Weinstein Company said in a statement it entered into a “stalking horse” agreement with a Lantern Capital affiliate, that would purchase substantially all of the assets of the company.

More than 70 women accused the company’s co-founder, Harvey Weinstein, who was one of Hollywood’s most influential men, of sexual misconduct, including rape. Weinstein has denied having non-consensual sex with anyone.

“Since October, it has been reported that Harvey Weinstein used non-disclosure agreements as a secret weapon to silence his accusers. Effective immediately, those ‘agreements’ end,” the company said in an emailed statement.

Launched in October 2005, the studio produced and distributed critically acclaimed hits including “The King’s Speech” and “Silver Linings Playbook,” as well as TV series such as long-running fashion reality competition “Project Runway.”

https://www.reuters.com/article/us-weinstein-company-bankruptcy/weinstein-co-files-for-bankruptcy-ends-all-non-disclosure-agreements-idUSKBN1GW08P



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Awe that sucks. All those jobs lost because of one dick head who can't handle his dick and has no game.



 

China Numba wan!!

Well, he went down pretty quickly.



Honestly I hope more of the old guard crumbles. They have created this actual toxic environment where they excuse sex assault and pedophilia in the name of art.



 

Do not remember the last time I watched a Weinstein production. No lose, besides the jobs. RIP.



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Now the NDAs are void, I’m interested in seeing some full disclosure.

Last edited by mysteryman - on 21 March 2018