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Bankruptcy Law

Weinstein Co. Bankruptcy Plan Approved Over Accusers’ Challenge

Jan. 25, 2021, 11:50 PM

The Weinstein Co. Holdings LLC won court approval of its bankruptcy plan to wind down by establishing a $17 million fund for Harvey Weinstein’s sexual abuse victims, overcoming four accusers’ challenge that liquidation unjustly benefits the defunct studio’s insurers and affiliated third parties.

The plan includes a settlement with a $35 million contribution from the company’s insurance providers. Of the total, $17 million will be reserved for about 50 abuse victims.

The Chapter 11 plan and dedicated victims’ fund allow the company to avoid a Chapter 7 liquidation run by a court-appointed trustee, Judge Mary K. Walrath of the U.S....

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