Weinstein Company Goes Bankrupt Voids All NonDisclosure Agreements
Just before courts closed on Monday, the Weinstein Company filed for Chapter 11 bankruptcy protection in the state of New York, and in doing so, released anyone bound by a Weinstein Company non-disclosure agreement.
According to The New York Times, the company had been trying to hold on, keeping open an option to reorganize under a different, less polarizing name, and looking for an “angel investor” who might come along and keep the struggling production company afloat. Several companies expressed interest, but no help materialized, and now Weinstein’s namesake company needs protection from its creditors.
The Weinstein Company will now likely go on the auction block.
In a move that should help Weinstein’s alleged victims — which already number in the dozens — the bankruptcy filing includes a clause releasing anyone kept quiet under a non-disclosure agreement. The filing suggests that anyone “who suffered or witnessed any form of sexual misconduct by Harvey Weinstein” is now free to come forward with their own allegations. – READ MORE
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