Quentin Tarantino, Leonardo DiCaprio, Rachel McAdams, and More File Objections to Weinstein Co. Sale
In the wake of dozens of allegations of sexual assault thrown at The Weinstein Company's leading man Harvey Weinstein, the company has been forced to file bankruptcy. Variety reports that the company is angling to win court approval this Wednesday in its sale to Lantern Capital. The deal is expected to go through by the end of the week, but some A-list stars have filed objections to the sale's provisions.
Less than 24 hours after Weinstein plead not guilty to a new batch of sex-crime charges, Quentin Tarantino, Brad Pitt, Meryl Streep, Julia Roberts, George Clooney, Bill Murray, and Rachel McAdams all filed objections to the sale's provisions, among others. They are claiming that each of them are owed "profit participation payments" from various films released under The Weinstein Company, Variety reports.
A provision of the agreement between Weinstein, Lantern Capital and a committee of unsecured creditors proposed to give Lantern four months after the deal was reached to decide which Weinstein Co. contracts to assume, with the other contracts going back to Weinstein's estate. The stars' attorneys claim that this would provide them with little or no money.
The company and Lantern are still in a dispute over who is responsible for said payments, with Lantern recently agreeing to pay $8.75M in "cure payments".
The battle will continue to rage throughout the week, with Tarantino's attorney in particular claiming the director is owed $4.3M in unpaid royalties and profit participations. Weinstein himself continues to spiral downwards with new sexual assault allegations surfacing consistently and court appearances.