The Weinstein Company — the iconic Hollywood brand that became the catalyst for a cultural reckoning in terms of sexual harassment and assault — is officially filing for bankruptcy. And while this may seem like good news (because, karma) it may actually have negative implications for a number of Harvey Weinstein’s victims.
Basically, when a company files for bankruptcy, lawsuits against the company generally become void. Meaning women and former employees/collaborators who are currently suing The Weinstein Company for harassment and misconduct will no longer be able to pursue their legal cases.
After facing initial lawsuits and firing co-founder Harvey Weinstein last year, the company was approximately $520 million in debt. A group of investors was planning to purchase the brand, but the Weinstein company has said that necessary funds were not provided quickly enough, and they have thus been forced to fold.
The lawsuits this news could affect are many and varied. British actress Kadian Noble had filed a lawsuit on the grounds that the company had violated sex trafficking laws while in France. Meanwhile, husband and wife production duo Scott Lambert and Alexandra Milchan had an Amazon series backed by the Weinstein Company cancelled due to the controversy, and they argue that the company knew the scandal was going to break but made a major deal with them anyway.
However, all is not completely lost. Some of the lawsuits named Harvey Weinstein himself, as well as his brother, Bob Weinstein, as co-defendants in the case, meaning that the lawsuits can still move forward against them as individuals. The company just will no longer be part of the case.
We know that this is a complicated process, but we hope the victims ultimately get the justice they deserve.