Harvey Weinstein’s film and TV production company is to file for bankruptcy after the sexual harassment scandal that has engulfed the beleaguered firm scuppered a last-ditch $500m (£356m) deal to save the business. The allegations against Harvey Weinstein – a list Read moreUnder the proposed $500m deal, which would have given Contreras-Sweet’s consortium 51% control, the Weinstein Company was to be renamed with a new board of directors. Talks with Contreras-Sweet’s consortium had ground to a halt earlier in February after the New York attorney general’s officer filed a civil rights suit against the Weinstein Company and its co-founders, Harvey and Bob Weinstein. Weinstein-backed films including Robert De Niro’s War With Grandpa and Mary Magdalene, starring Rooney Mara, Joaquin Phoenix and Chiwetel Ejiofor, have been pulled from release last year. Once it enters into bankruptcy, prospective buyers are protected from inheriting the Weinstein Company’s legal liabilities.

Source: The Guardian February 26, 2018 08:55 UTC