The Weinstein Company says it will file for bankruptcy

The Weinstein Company says it will file for bankruptcyFiling for bankruptcy protection creates more uncertainty about how women who allege they are victims of Weinstein could be compensated. The scuppered deal had a provision for a victims’ fund, but in bankruptcy the women may now be treated as unsecured creditors that can recoup only pennies on the dollar for their claims. The Weinstein Company had been close to inking an agreement this month to be taken over by investors led by former Obama administration official Maria Contreras-Sweet for more than $500 million, but a lawsuit filed by New York’s Attorney General Eric Schneiderman on Feb. 11 complicated the negotiations.

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