Court approves payout of $17 million to Harvey Weinstein's victims

NEW YORK, NY - DECEMBER 06: Harvey Weinstein leaves New York City Criminal Court after a bail hearing on December 6, 2019 in New York City. The Oscar-winning producer appeared in court for a proceeding to evaluate his bail in part of reforms set to take effect Jan. 1 throughout New York State. (Photo by Scott Heins/Getty Images) — (Image credit: (Photo by Scott Heins/Getty Images))

A U.S. court has approved a payout to dozens of women who accused Harvey Weinstein of sexual misconduct.

Judge Mary Walrath ruled in favor of a Weinstein Company liquidation plan to allocate $17 million to his victims, Attorney Paul Zumbro confirmed.

In March 2018, the Weinstein Company filed for Chapter 11 bankruptcy and was acquired by Lantern Capital, a private equity firm.

The company liquidation plan, which is valued at $35.2 million, has allocated $17,064,525.30 to set up a 'Sexual Misconduct Claims Fund' as well as a liquidation trust to cover the payment of sexual misconduct claims. It has also allocated $8.4 million to a trust for the resolution of nonsexual misconduct claims, and $9.7 million to cover a portion of the legal bills of Weinstein’s former officers and directors. None of Weinstein’s legal costs will be covered by the payout.

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Zumbro told CNN his team is "pleased with Judge Walrath's ruling, and particularly so given there is now a mechanism that allows victims to receive compensation without having to endure the hardships and uncertainties of litigation."

The company previously confirmed that they will release those who witnessed and/or experienced Weinstein’s alleged misconduct from any nondisclosure agreements.

The Weinstein Company, which was founded by Harvey Weinstein and his brother Bob in 2005, was once one of the largest mini-major film studios in North America. Its reputation came tumbling down in 2017 after allegations of sexual harassment and assault against Weinstein led to his abrupt termination.

After being found guilty of rape and charges of criminal sexual acts, Weinstein is currently serving a 23-year sentence at a maximum-security prison in New York state. He still faces six additional sexual assault charges in California.

Hailing from the lovely city of Dublin, Emma mainly covers the Royal Family and the entertainment world, as well as the occasional health and wellness feature. Always up for a good conversation, she has a passion for interviewing everyone from A-list celebrities to the local GP - or just about anyone who will chat to her, really.

Emma holds an MA in International Journalism from City, University of London, and a BA in English Literature from Trinity College Dublin.