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The Weinstein Company Sold At Bankruptcy Auction Delivering A Blow To Rapist Harvey Weinstein May 4. 2018
Harvey Weinstein Lantern Capital, owned by Broadway producer, Howard Kagan, has won the bankruptcy auction of, The Weinstein Company, delivering a terrible blow to disgraced movie producer and rapist Harvey Weinstein. Over 100 women have stated Weinstein sexually harassed, assaulted or raped them, using his influence as a Hollywood movie producer to commit sex crimes against women or he would destroy their careers. Lantern Capital won the auction with a bid of $315,000,000. The figure is $150,000,000 less than was expected, but has been accepted. Lantern Capital has also agreed to assume $110,000,000 in Weinstein Company debt. The board of The Weinstein Company is pleased with the sale, but it marks the end of Weinstein's movie career and influence in Hollywood, which he will not take well (and that's a good thing for women). The bid is said to include $30,000,000 for Weinstein victims, but that figure seems low in light of the sheer number of women he has harmed. CNN is reporting "the relatively low price of the deal, and the financial problems at the company, have raised concerns among its creditors about whether they will get the money owed to them...among the most recent objections were filings by actor Brad Pitt, who said he is still owed money from the 2012 Weinstein Company movie Killing Them Softly, and Heidi Klum, who said she is owed money from the television show Project Runway, which was produced by the company." Other claims have been filed by rappers Eminem and Jay Z. CNN also states of the bankruptcy case, "The company also faces a civil rights suit filed by New York Attorney General Eric Schneiderman based on allegations of sexual harassment of employees. Schneiderman is on record saying he wants to ensure that any sale includes a fund to compensate victims." Victims also have the right to personally sue Weinstein as a private citizen for the sex crimes he committed against them. Therefore, even if they are of the view there is not enough money in the sale of the Weinstein Company to gain financial compensation, they can always go after Weinstein in court, as an individual, suing for sexual harassment and assault. Weinstein still has a few homes, art work, cars, jewelry, cash, stocks, furniture and designer clothes. These are assets that can be liquidated to pay court judgments against him. Weinstein ruined many lives and even defrauded charity, behaving like a monster. There was no necessity for his behavior. It was pure arrogance. He deserves to be sued senseless. STORY SOURCE Remains of the Weinstein Company sold -- to the only real bidder May 2, 2018: 11:32 AM ET - The remains of the Weinstein Company, once a leading independent movie studio, are slated to be sold. After no serious bids emerged ahead of the Monday deadline to submit for the company's bankruptcy auction, the Dallas firm Lantern Entertainment is poised to buy the assets of the company for $310 million. That's nearly 40% less than was being offered for the company a few months ago, and just a fraction of how much the company was worth before the sexual misconduct scandal that toppled its founder Harvey Weinstein last year. Lantern had entered a bid to get the auction process started. It is an arm of private equity firm Lantern Capital, whose holdings include such assets such as American Zinc Recycling and GoodBulk, a bulk cargo shipping line. Lantern Capital did not immediately respond to request for comment... Weinstein Co. Declares Lantern Capital Winner of Bankruptcy Sale The Weinstein Co. declared Tuesday afternoon that Lantern Capital was the winning bidder in its bankruptcy sale, turning away a late bid from Broadway producer Howard Kagan. The company announced that Kagan’s $315 million bid, which was submitted Tuesday morning, lacked a financing commitment and other qualifications. “Lantern’s bid clearly achieves the highest and best value for the estate and its creditors,” Ivona Smith, an independent member of the Weinstein board said in a statement. “We look forward to working with Lantern to close the transaction and consummate the going concern sale.” Mary Walrath, a Delaware bankruptcy judge, must still sign off on the sale. Lantern had offered $310 million plus the assumption of project-based liabilities totaling $115 million. The committee of unsecured creditors has already filed an objection to the form of the Lantern bid, saying it is not clear that the Weinstein Co. is achieving the maximum return for creditors. The New York attorney general’s office is also expected to weigh in... RELATED ARTICLES Harvey Weinstein Removed A Woman's Tampon And Sexually Assaulted Her During Her Period Via Oral Sex Madonna Has Sexually Harassed And Groped People Without Permission Much Like Harvey Weinstein Harvey Weinstein's Fall From Grace As Sexual Harassment And Charity Fraud Claims Surface Ashley Judd Sues Sexual Predator Harvey Weinstein For Ruining Her Acting Career Harvey Weinstein Sued In New York For Raping An Aspiring British Actress Harvey Weinstein Labeled A Rapist Confirming Previous Site Claims |
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