The film studio once run by Harvey Weinstein said it plans to liquidate in bankr...
- The film studio once run by Harvey Weinstein said it plans to liquidate in bankruptcy, as it tries to resolve civil lawsuits against former directors and officers arising from sexual misconduct claims against the onetime Hollywood mogul.
Lawyers for Weinstein Co asked a Delaware bankruptcy judge to convert the studio’s bankruptcy to a Chapter 7 liquidation from the Chapter 11 case filed in March 2018, according to papers filed on Tuesday night. Lawyers for Weinstein Co said Chapter 7 was best because the company had sold nearly all its assets in a $289 million sale last July to private equity firm Lantern Capital Partners, and lacked enough liquidity to reorganize under Chapter 11.
Weinstein Co’s plan to hire a law firm, Bernstein Litowitz Berger & Grossmann, to pursue claims it might have against the directors and officers drew two objections on Wednesday, including from New York Attorney General Letitia James.
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