Latest Weinstein Settlement Proposal Trims Accuser Payouts Down to $17 Million

Latest Weinstein Settlement Proposal Trims Accuser Payouts Down to $17 Million
A new settlement proposal to close out the bankruptcy of The Weinstein Company includes a reduction in payouts to accusers compared to a previous plan.

The revised $35.2 million proposal designed to close out TWC’s financial obligations includes a $17 million victims’ fund — a decrease from a settlement proposal filed and rejected in July, which included an $18.9 million victims’ fund that would allow women from both the TWC and Miramax era to make claims, as well as a $5.4 million settlement for 14 individual victims as part of the liquidation of TWC.

The Tuesday filing, reviewed by TheWrap, said that the $35,214,882.30 proposed settlement, to be paid out by insurance companies, would be divided as such: “(i) the aggregate Cash amount of the Sexual Misconduct Claims Fund; (ii) the aggregate Cash amount to the Estates in the amount of the Liquidation Trust Settlement Payment; (iii) the aggregate Cash amount of the Former Representatives Defense Costs.
See full article at The Wrap »

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