Weinstein Co announces Lantern Capital as highest bidder in bankruptcy sale amidst objections by Hollywood actors

Lantern Capital has been introduced because the successful bidder within the chapter sale of The Weinstein Co, based and previously headed by the disgraced Hollywood producer Harvey Weinstein, as reported by Selection.

Harvey Weinstein. Fb

The chapter court-supervised sale will in the end have to be confirmed by the chapter court docket, and overcome any objections from New York Legal professional Common Eric Schneiderman, since he filed a civil rights go well with in opposition to Weisntein Co for pervasive sample of criminal activity in February, and has constantly demanded that any sale should adequately embrace compensation for the victims, as reported by Deadline.

In the meantime, Weinstein Co has issued a press release asserting the sale to Lantern for $310 million, turning down a final second $315 million bid by Broadway producer Howard Kagan citing lack of monetary dedication and different {qualifications}. “Lantern’s bid clearly achieves the best and greatest worth for the property and its collectors. We stay up for working with Lantern to shut the transaction and consummate the going concern sale,” mentioned Icona Smith, an unbiased board member of Weisntein Co, as reported by Indie Wire.

The co-founders of Lantern Andy Mitchell and Milos Brajovic additionally issued a press release, which mentioned, “We’re honoured by the board’s recognition and acceptance of Lantern’s deliberate acquisition. Lantern appears to be like ahead to persevering with our work with the constituents concerned on this court-supervised transaction. Moreover, we respect the numerous help from workers, enterprise companions, artistic expertise and quite a few trade leaders as we got down to launch this new firm. Lantern Leisure stays dedicated to offering premier content material with a various workforce in a protected atmosphere based on a tradition of respect and creativity,” as reported by Selection.

The 5 ladies who’ve filed a class-action legislation go well with in opposition to Harvey Weinstein in federal district court docket have backed Howard Kagan’s bid and issued a powerful assertion in opposition to Lanter’s supply because it doesn’t suggest any compensation for the victims. “Lantern’s bid by no means addresses the victims of Harvey Weinstein’s sexual assault enterprise, which might sweep the 100 plus cases of sexual assault, rape and extra underneath the rug,” mentioned their legal professional Elizabeth Fegan, as reported by Deadline.

(Also read: Brad Pitt, Jennifer Lawrence, Leo DiCaprio, Quentin Tarantino file objections over Weinstein Co bankruptcy sale)

<!– Revealed Date: Could 02, 2018 10:56 AM
| Up to date Date: Could 02, 2018 10:56 AM


Up to date Date: Could 02, 2018 10:56 AM

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