The studio Weinstein is going to go bankrupt

AFP

AFP

Monday, February 26, 2018 05:17

UPDATE
Monday, February 26, 2018 05:17

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The Weinstein Company will go bankrupt, reported the american media, two weeks after the prosecutor of the State of New York had attached conditions to the takeover of the studio founded by Harvey Weinstein and his brother Robert.

The studio is in turmoil since the charges made in October of sexual abuse by the all-powerful producer and the tens of complaints filed against Weinstein, who has produced award-winning films celebrated such as “The Artist,” “The King’s Speech” or “The Iron Lady”.

“While recognizing that this solution is extremely damaging to our employees, our creditors and all potential victims, the board of directors has no other choice but to adopt the only viable option to maximize the remaining value of the company: a process of bankruptcy ordained,” said the council in a press release quoted Sunday in the Los Angeles Times.

The New York Times has also published the same news release. The two dailies have indicated that the negotiations regarding the takeover of the studio Weinstein by a group of investors led by an ex-head of the Obama administration, Maria Contreras-Sweet has failed.

This group was ready to finalize the purchase of the Weinstein Company for an amount of $ 500 million, just before the public prosecutor of the State of New York Eric Schneiderman does takes any legal action against the studio on the 11th of February.

The attorney Schneiderman, “three simple principles” should be respected in any project of recovery: “The victims should be properly compensated, the employees in the future are protected and the officers of the corporation committed, or to have allowed (the abuse) will not be rewarded.”

“Any offer that removes the Weinstein brothers, but leaves intact the rest of the leadership should be unacceptable,” he also stressed.

According to Mr. Schneiderman, the draft recovery plans to entrust the presidency of the new company, to David Glasser, former director of operations of studio Weinstein, a proposal he called”unacceptable”.

The Los Angeles Times said that the studio Weinstein had sent a letter to potential investors, accusing them of not having made an offer that ensures the financial rescue of the company and which would meet the requests of the prosecutor of New York.

The brother of Harvey Weinstein, Bob, is currently the head of the company after the dismissal last year of Harvey Weinstein.

More than a hundred women including celebrities such as Ashley Judd, Gwyneth Paltrow and Salma Hayek have accused Harvey Weinstein of the have harassed, assaulted, or raped, often there are years or even decades.

The producer fallen, unseen since the beginning of the scandal, would be currently in treatment for addictions sexual in a specialized center of Arizona.