Bankruptcy Judge Approves Weinstein Co. Liquidation After Three-Year Odyssey & Last-Ditch Protest By Handful Of Victims

Bankruptcy Judge Approves Weinstein Co. Liquidation After Three-Year Odyssey & Last-Ditch Protest By Handful Of Victims
A bankruptcy court judge Monday confirmed a liquidation plan for the former Weinstein Co., which filed for Chapter 11 three years ago as disgraced mogul Harvey Weinstein imploded in a sea of sexual abuse and harassment accusations.

Weinstein the man is serving a 23-year sentence for rape and assault at a correctional facility in upstate New York. The assets of his company were sold to a private-equity firm, with proceeds going to secured creditors. A group of unsecured trade creditors and Weinstein victims have been arguing over how divide what’s left, basically settlement money offered by insurance companies.

After years, a large majority of both agreed to accept the latest iteration of the plan earlier this month that includes $17 million for a sexual misconduct claims fund that will be divided among the women, and another $8.4 million for other bankruptcy claims. It’s quite unusual to have bankruptcy case where one
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