Weinstein $44m proposal not final
HARVEY Weinstein has reached a tentative $44 million (about R633m) agreement to settle lawsuits involving women who accused him of sexual misconduct.
As part of the proposed settlement, which was first reported by the Wall Street Journal, $30m would go to alleged victims of the disgraced Hollywood producer, former Weinstein Company employees and creditors, and their lawyers.
The remaining amount would be used toward legal fees, the newspaper reported, citing people familiar with the matter.
Representatives for Weinstein and the Weinstein Company could not be reached for comment.
The New York attorney general’s office declined to comment, as did Robert Feinstein, an attorney for the committee of unsecured creditors.
News of the proposal, which has not been finalised, was revealed on Thursday during a federal bankruptcy court hearing in Wilmington, Delaware. The Weinstein Company filed for bankruptcy last year after weathering an onslaught of civil lawsuits brought forth by accusers, who alleged Weinstein and his former company engaged in misconduct.
The lawsuits include a class action filed on behalf of Weinstein’s alleged victims and a suit from the New York attorney general.
Adam Harris, an attorney representing Weinstein’s brother and business partner, Bob Weinstein, the company’s former chairperson, told Judge Mary Walrath on Thursday that a tentative deal was reached the day before, after months of mediation hearings, according to Variety. If finalised, the money would likely be paid by insurance policies, the Times reported.
The proposed deal comes more than a year and a half after women first started accusing Weinstein of sexual misconduct. Since then, more than 80 women – a list that includes high-profile actresses and models such as Ashley Judd, Rose Mcgowan, Angelina Jolie, Gwyneth Paltrow and Cara Delevingne – have come forward with allegations ranging from sexual harassment and verbal abuse to rape.
The numerous accusations against Weinstein helped ignite the #Metoo movement, which has led to public scrutiny of Hollywood and the global entertainment industry.
Amid the scandal’s fallout, the Weinstein Company, once one of the largest independent film studios in the US, floundered and accumulated hundreds of millions of dollars in debt. Weinstein’s former company was behind Oscar-winning films The King’s Speech and The Artist, which both earned best picture awards in consecutive years. As a producer, Weinstein’s credits also include Pulp Fiction, Shakespeare in Love and Gangs of New York, among other titles.
The settlement is a civil matter, so it would not affect any pending criminal cases against Weinstein, who is facing charges of sexual assault in Manhattan.
The disgraced movie mogul, whose trial is set to begin in September, has pleaded not guilty and denied all accusations of non-consensual sex.
The parties involved in the civil cases are expected to meet next week with a mediator to go over additional details of the proposed agreement, Feinstein told the judge, Variety reported.
“The end goal of that mediation is to do a global settlement of the class action and all the tort claims against the Weinstein Co,” Feinstein said.
Elizabeth Fegan, an attorney representing Weinstein’s accusers in the class action, did not respond to a request for comment. | The Washington Post