More details about the Weinstein Co.’s bankruptcy case have been revealed.
According to legal documents obtained by the Wall Street Journal, disgraced movie mogul Harvey Weinstein took out a $1 million loan from the company just months before he faced a wave of sexual misconduct allegations by dozens of women. It was a scandal that ultimately led the production studio to file for bankruptcy last month.
Filings reveal the company spent “millions of dollars in pay, expense reimbursements, advances, and loans” to Harvey, his brother/studio co-chief Bob Weinstein, as well as former studio executive David Glasser; the latter of whom was terminated back in February, after he was accused of failing to protect employees from Weinstein’s alleged pattern of abuse.
The WSJ reports Harvey took home nearly $3 million in his last 18 months with the company, on top of the $2 million the studio put toward one of Harvey’s debts. Bob received close to $6 million in compensation and other payments, such as a reimbursement for a loan he made to the studio. Glasser took home about $4 million in the year prior to Weinstein Co.’s bankruptcy filing in March.
According to Deadline, the filings show that the studio is also facing nearly a dozen outstanding lawsuits connected to Harvey's alleged misconduct. The company also received a notice from American Express regarding an unpaid balance of about $1.4 million.
“I’m not surprised by the magnitude of claims,” bankruptcy attorney David Neale told Deadline. “That’s what motivated the filing.”