Weinstein Co. has filed for chapter 11 bankruptcy according to Deadline Hollywood.
As part of the filing, the company was forced to reveal who it owes money to, and there were some interesting names on the list, including frequent collaborator Quentin Tarrantino, Dame Judi Dench, music legend David Bowie, former TWC intern Malia Obama and Black Panther director Ryan Coogler.
All in all, the bankruptcy documents list nearly a thousand people the film company owes.
And it's just not celebrities and Harvard students the company needs to pay either. Several institutions are also awaiting a Weinstein payout, including the New York Fire Department, the Los Angeles Police Department, the American Cancer Society, the American Fund for AIDS Research and Autism Speaks.
The Oscar-winning film company took a turn for the worst last year after cofounder Harvey Weinstein was accused of multiple sexual assaults. Many people, including JAY-Z, hoped to buy the distressed but still-valuable company.
It seems, however, that Lantern Asset Management will be picking up the pieces of the firm, having come forward with a bid for the business of $310 million in cash, $125 million in assumed liabilities and $15 million in fees for current projects, according to Variety.
“The board selected Lantern in part due to Lantern’s commitment to maintain the assets and employees as a going concern," the company said in a statement. "The company hopes that this orderly sale process under the supervision of the bankruptcy court will allow it to maximize the value of the company’s assets for the benefit of its creditors and other stakeholders.”
The company has also released employees from their non-disclosure agreements, which will allow them to speak freely about the sexual assault controversy.
“No one should be afraid to speak out or coerced to stay quiet,” the company said. “The company thanks the courageous individuals who have already come forward. Your voices have inspired a movement for change across the country and around the world.”
Update, May 25, 2018:
Trayvon Martin's parents, Sybrina Fulton and Tracy Martin, have filed court papers claiming Weinstein owes them $150,000, the Associated Press reports.
The Weinstein Company optioned a book the couple wrote about their son for a movie deal; it has also filmed a series for television based on the work. Fulton and Martin claim they were never paid their executive producer fees. The couple also claims that if the series, which has been filmed, airs, they will be owed an additional, currently unspecified, amount.
Today, Weinstein surrendered to the authorities in New York City, New York Magazine reports. He faces charges of first-degree rape, third-degree rape and committing a first-degree criminal sex act. He is currently out (with an ankle bracelet) on $1 million bail.
