Weinstein reaches $44m settlement with sexual assault accusers, creditors

Weinstein reaches $44m settlement with sexual assault accusers, creditors

Disgraced Hollywood mogul, Harvey Weinstein, has reached a tentative $44-million settlement with women who have accused him of sexual assault as well

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Disgraced Hollywood mogul, Harvey Weinstein, has reached a tentative $44-million settlement with women who have accused him of sexual assault as well as creditors of his former studio. The proposed deal, which has not been finalized, was hammered out this week during mediation hearings stemming from bankruptcy proceedings for the Weinstein Co.

Under the proposed settlement, $30 million would be earmarked for accusers, unsecured creditors and former Weinstein Co. employees, while the remaining $14 million would be used to pay legal fees of the company’s directors and officers. Insurance companies, potentially including Chubb Limited and AIG, are expected to make the payment on behalf of the Weinstein Co., which filed for brankruptcy last year.

Two knowledgeable people said Walt Disney Co., through its insurance companies, could contribute funds to help pay for the settlement. Some of the alleged misconduct occurred when Disney previously owned Bob and Harvey Weinstein’s successful studio Miramax.

The move comes 19 months after allegations of misconduct were first detailed, unleashing a cascade of accounts from dozens of women who came forward with claims of assault, rape and verbal abuse. The groundswell gave rise to the #MeToo movement, which prompted Hollywood to take a sobering look at how it conducted business.

The Wall Street Journal first reported the tentative settlement, saying that news of the deal was raised during a bankruptcy court hearing in Wilmington, Del.

Thursday’s tentative agreement follows months of contentious mediation hearings. The goal has been to reach a global settlement that would resolve all of the civil suits lodged against Weinstein. More than a dozen lawsuits have been filed on behalf of accusers. A bankruptcy judge will decide on whether to approve the settlement on June 4.

The Hollywood producer behind such Oscar-winning hits as “Shakespeare in Love,” “Chicago” and “The King’s Speech” faces accusations from more than 80 women who allege harassment and assault, including actresses Ashley Judd, Rose McGowan and Annabella Sciorra. However, some of his accusers aren’t on board with the proposed settlement.

“Ashley Judd’s case against Harvey Weinstein is ongoing, and we intend to bring it to trial. She is not a part of any settlement” said her attorney, Theodore Boutrous Jr.

Attorneys Douglas Wigdor and Kevin Mintzer said their client Wedil David, who alleges that Weinstein raped her in a Beverly Hills hotel room in 2015, also rejected the deal.

“Sadly, rather than adequately compensate the rape and sexual assault victims of Harvey Weinstein…the proposed deal would provide millions of dollars to the ultra-wealthy directors of the Weinstein Company…and their big firm lawyers,”

Weinstein is currently out on bail. The former movie mogul has denied all accusations of nonconsensual sex.