A U.S. bankruptcy judge in Delaware has approved a Weinstein Company liquidation plan that includes a $17 million allocation to Harvey Weinstein’s sexual assault victims.
An attorney for the Weinstein Company confirmed the settlement to CNN on Monday. The $35.2 million liquidation plan allocates $17,064,525.30 to establish a “Sexual Misconduct Claims Fund.” According to the outlet, it creates a liquidation trust for the payment of sexual misconduct claims, according to court documents.
“It is true that Judge (Mary) Walrath approved the settlement plan at a hearing today,” said Attorney Paul Zumbro. They are “pleased with Judge Walrath’s ruling, and particularly so given there is now a mechanism that allows victims to receive compensation without having to endure the hardships and uncertainties of litigation,” he added.
The Weinstein Company Holdings LLC filed for Chapter 11 bankruptcy in 2018, along with 54 affiliate companies. The company was later sold to Lantern Capital, a Dallas-based private equity firm, for $310 million.
In March 2020, Harvey Weinstein was sentenced to 23 years in prison on criminal sexual acts and rape charges. Weinstein still faces six additional sexual charges in Los Angeles.
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