Yahoo News The Weinstein Company is going into bankruptcy
The Weinstein Company has filed for bankruptcy.
On Monday (March 20), the production company – which was thrown into disarray when boss Harvey Weinstein was accused of sexually misconduct against more than 100 women – announced bankruptcy in the hope of entering an organised sale process with Lantern Capital Partners for the majority of its assets.
Harvey denies all criminal allegations made against him.
The disgraced producer founded the company alongside his brother Bob, but resigned in October last year in the wake of the scandal.
Related: Christopher Eccleston feels "stupid" for not realising extent of Harvey Weinstein scandal
It's now thought Lantern Capital Partners will buy the company's remaining assets by entering into a stalking horse agreement with the former Oscar-winning production company.
"While we had hoped to reach a sale out of court, the board is pleased to have a plan for maximizing the value of its assets, preserving as many jobs as possible and pursuing justice for any victims," Bob Weinstein said in a statement to TheWrap.
During its bankruptcy filing, the board also announced all Non Disclosure Agreements signed with the company during the course of its pre-bankrupt era will be defunct, meaning harassment whistleblowers such as Zelda Perkins will be released from signed contracts enacted by Harvey Weinstein.
In theory, this means we could see more accusers step forward, although several NDA signers have already come forward to shine a light on their experience with The Weinstein Company, most memorably in Channel 4's Working with Weinstein documentary last month.
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