The Weinstein Company (TWC), founded by brothers Bob and Harvey Weinstein, filed for bankruptcy in a profile court in the US state of Delaware, Reuters reported .
The first bidder for the purchase of all TWC assets was venture capital firm Lantern Capital. According to Variety, the company can pay from 300 to 450 million dollars. However, Lantern Capital will have to compete with other potential buyers. The auction will be under the control of the court.
According to one of the conditions for filing for bankruptcy, Weinstein Company annulled all non-disclosure agreements. As emphasized by The New York Times, now Weinstein Company employees can openly talk about cases of sexual harassment. Earlier they talked about this anonymously. It is not known whether Lantern Capital or another TWC buyer will pay compensation to victims of harassment.
In a statement, Weinstein Company thanked those who talked about harassment for courage and stressed that “no one should be afraid to speak out.” The management of the company expressed regret that “it can not completely fill the damage caused by Harvey Weinstein,” but hopes that today’s events “will mark a new beginning.”
Weinstein Company, which released films including “Inglourious Basterds”, “The King Says!” And “My Guy the Psycho”, announced the preparation of a bankruptcy petition in late February. In March, the sale of the company to investors broke down due to debt obligations, which became known “at the last minute.”
Since the fall of 2017, more than 80 actresses and other women have accused Weinstein of sexual harassment. A few days after the scandal began, the producer was fired from his own company.