Shamed Hollywood producer Harvey Weinstein has reached a tentative $25million civil settlement with dozens of his alleged sexual misconduct victims – however the former mogul would not have to admit any wrongdoing or pay his accusers out of his own pocket.
Following a two year legal fight, the proposed civil settlement has obtained preliminary approval from all the major parties involved, the New York Times reported.
The claimants – which include more than 30 actresses and former Weinstein employees that have accused him of numerous sexual offenses including rape – would share the payout, along with any other accusers that should come forward in the months ahead.
As a result, the settlement would essentially bring an end to every civil suit filed against the 67-year-old and his former company, pending a court approval and final sign off by all parties.
But Weinstein himself won’t be footing the bill. Instead, the $25million in reparations would be paid by various insurance companies representing the now-bankrupt Weinstein Company, the producer’s former studio.
Shamed Hollywood producer Harvey Weinstein (shown hunched over a walker today) has reached a tentative $25million civil settlement with dozens of his alleged sexual misconduct victims – however the former mogul would not have to admit any wrongdoing or pay his accusers out of his own pocket
As a result, the settlement would essentially bring an end to every civil suit filed against him and his former company, pending a court approval and final sign off by all parties
As the firm is currently in the midst of bankruptcy proceedings, Weinstein’s accusers were forced to make their claims to the company’s creditors. Their $25million settlement would come as part of an overall $47million settlement to close out all of the company’s remaining obligations, Times sources say.
Weinstein is still set to be tried in Manhattan next month on charges of sexual assault involving two women. Cutting a frail figure, he appeared in court on Wednesday with a walker as a judge raised his bail from $1million to $5million, citing several violations of his bail terms.
As his criminal on goings have continued to dominate public attention, the largely unreported civil negotiations have proved to be far more consequential for the dozens accusers involved, who originate from the US, to Canada, Britain and Ireland.
A quarter of the overall settlement – or $12million – would go towards paying some of Weinstein and his company’s legal costs, the lawyers said.
The members of the board would also be immune from future liability and the alleged victims would be required to drop their claims against Weinstein and other executives as a result of the settlement.
Lawyers of a number of the plaintiffs are said to be predicting that Weinstein himself will soon file for personal bankruptcy, despite avoiding making a personal pay out under the terms of the settlement.
Fifty-year-old actress Katherine Kendall, who accused Weinstein of luring her to his apartment under false pretences where he chased her around naked, told the Times that she was disappointed by the terms of the agreement but said she didn’t want encroach on other plaintiffs potentially receiving compensation by opposing it.
‘I don’t love it, but I don’t know how to go after him,’ she told the Times. ‘I don’t know what I can really do.’
As the firm is currently in the midst of bankruptcy proceedings, Weinstein’s (shown left with Natalie Portman and Right with rose McGowan) accusers had had to make their claims to the company’s creditors. Their $25million settlement would come as part of an overall $47million settlement to close out all of the company’s remaining obligation
Weinstein is still set to be tried in Manhattan next month on charges of sexual assault involving two women. Cutting a frail figure he appeared in court on Wednesday with a Walker a judge raised his bail from $1million to $5million, citing several violations of his bail terms
Should the agreement proceed through the remaining stages of approval, the settlement will resolve dozens of lawsuits filed against 67-year-old Weinstein since 2017, when the first allegation of sexual abuse was made against the Hollywood executive.
Among some of his highest profile accusers are Angelina Jolie and Gwyneth Paltrow, but neither of them have joined the proceedings. Ashley Judd, who has announced plans to take Weinstein to court, will also not be a recipient of the settlement.
Should the deal go through, there are still a number of complications that the claimants will be forced to contend with, including how the money would be distributed.
Under the current terms, 18 of the alleged victims would split $6.2 million between them, with no individual receiving more than $500,000.
Then a second fund, totalling $18.5 million, would be put aside for those who are part of a class-action lawsuit, the New York attorney general’s suit and any future claimants, with the court designating discretionary amounts to each recipient based on the severity of their claims.
The Times reported that producer Alexandra Canosa and actress Wedil David have walked away from the tentative deal and intend to challenge it, with their lawyer calling the proposed terms ‘offensive’.
Should the agreement proceed through the remaining stages of approval, the settlement will resolve dozens of lawsuits filed against 67-year-old Weinstein since 2017, when the first allegation of sexual abuse was made against the Hollywood executive
Among some of his highest profile accusers are Angelina Jolie and Gwyneth Paltrow (above), but neither of them have joined the proceedings. Ashley Judd, who has announced plans to take Weinstein to court, will also not be a recipient of the settlement
With the remaining participants in agreement, lawyers on both sides will now work to craft the proposal into an official settlement. Once finalized, the document will need to be reviewed by at least two judges.
However, the deal could fall apart at any time because of the objections of David and Conosa.
For many of the women, the civil settlement is seen as the only legal recourse for justice, considering the narrow scope of Weinstein’s criminal trial which involves just two of his some-70 total accusers.
Many of the victims have declined to go through a criminal trial, while others have complained of offenses outside of the statute of limitations or accused Weinstein of offenses that do not constitute criminal wrongdoing.
In his criminal trial, set to begin on January 6, Weinstein has been accused by one woman of raping her in a Manhattan hotel room in 2013. The other woman claims her forced her to perform oral sex on him at his townhouse in 2006.
Weinstein has repeatedly denied any non-consensual sexual activity.