The famed Weinstein Company will reportedly be liquidated.
It was almost one year ago when Harvey Weinstein was convicted on various counts related to sexual assault. The disgraced film executive was sentenced to 23 years in prison, and following his conviction, Weinstein’s alleged victims have been waiting for the court to decided how to move forward with his finances. According to reports, a judge has ruled on the fate of at least one of Weinstein’s businesses.
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A bankruptcy judge his reportedly ordered that the famed Weinstein Company be liquidated. It stands at a worth of approximately $17 million and those funds will be allocated among the victims. The judge made a statement about the division of the finances after the ruling.
“I will not get into an analysis of whether one victim’s claim has more validity or more value than another’s,” Judge Mary Walrath during a hearing yesterday (January 25). “Every victim of Harvey Weinstein was victimized and deserves to have a say into the plan confirmation. If they choose not to release Mr. Weinstein, they have the right to have a jury trial.”
In order for the victims to receive their portion of the money, they must agree to “release Weinstein of future claims.” If she decides against that, she will reportedly have her financial judgement significantly reduced. Earlier this month, nearly 40 accusers agreed to the settlement deal.