Harvey Weinstein accusers freed from non-disclosure agreements as company files for bankruptcy

Harvey Weinstein’s sexual misconduct accusers have been released from their non-disclosure agreements now that The Weinstein Company has filed for bankruptcy.
Executives of the company, known as TWC, filed for bankruptcy protection on Monday (19Mar18) after months of looking for a buyer or investor to save it following the allegations of sexual assault against co-founder and co-chairman Weinstein, who was fired shortly after the exposes were published in October (17).
Executives said in a statement that they had entered into a “stalking horse” agreement with an affiliate of private equity firm Lantern Capital Partners, who had agreed to buy the company once it had been approved by the U.S. Bankruptcy Court in Delaware.
They also said they were releasing all victims of, or witnesses to, alleged sexual misconduct from non-disclosure agreements which had previously prevented them from speaking out.
“Today, the Company also takes an important step toward justice for any victims who have been silenced by Harvey Weinstein,” the statement read. “Since October, it has been reported that Harvey Weinstein used non-disclosure agreements as a secret weapon to silence his accusers. Effective immediately, those ‘agreements’ end.
“No one should be afraid to speak out or coerced to stay quiet. 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.”
New York Attorney General Eric T. Schneiderman, who filed a lawsuit against the company on behalf of employees last month (Feb18), praised the decision, calling it “a watershed moment for efforts to address the corrosive effects of sexual misconduct in the workplace”.
Weinstein’s brother and TWC co-founder Bob said they were pleased to have a plan for “maximizing the value of its assets, preserving as many jobs as possible and pursuing justice for any victims,” according to The Associated Press.
The bankruptcy protection filing means any civil lawsuits from Weinstein accusers will be halted and no new legal action can be taken against the company.
The Lantern deal comes just weeks after former White House official Maria Contreras-Sweet called off plans to buy TWC.
Weinstein has been accused of misconduct ranging from harassment to rape by around 80 women. He has denied all allegations of non-consensual sex.