From sexual abuse scandal to bankruptcy. According to the American media, the Weinstein Company, a film company founded by Harvey Weinstein and his brother Robert, will declare bankruptcy. The news comes two weeks after the New York state attorney set the terms for the acquisition of the studios.
The story linked to the scandal of sexual abuse by the influential Hollywood producer and the dozens of complaints filed against Weinstein, who produced award-winning films.
“While acknowledging that this solution is extremely harmful to our employees, our creditors and all potential victims, the board has no choice but to adopt the only viable option to maximize the company's residual value: an orderly bankruptcy process ,” the board explained in a statement reported in the Los Angeles Times. The New York Times also published the same version.
The two newspapers talk about the failure of negotiations for the acquisition of the studios by a group of investors led by a former Obama administration official, Maria Contreras-Sweet. Investors would have been ready to take over the Weinstein Company for a figure that, according to reports circulated in recent days, would be around 500 million dollars.
But then the New York Attorney General launched a lawsuit against Weinstein, his brother and the company, setting the terms of sale for fear that the imminent operation could leave the victims of the abuses accused of dry-mouthed by the manufacturer, which at the moment is not yet charged.
