Jay-Z And Eminem Sue Weinstein Company. Will Any $ Be Left For Victims?
Jay-Z and Eminem are among the most prominent stars suing the Weinstein Company for money they say is owed them, but there are thousands more creditors and the victims of sexual misconduct worry there won’t be anything left for them.
A mini-major film studio, the Weinstein Company filed for bankruptcy in March after co-founder Harvey Weinstein was fired in October for sexual misconduct.
One of the most powerful men in Hollywood, Weinstein tried to use Jay-Z as a shield to deflect accusations that Weinstein promised stardom to vulnerable women in exchange for sexual favors. It didn’t work.
When he was fired, Weinstein likened his personal flaws to those of the Jay-Z, who apologized on his album “4:44” to his wife, Beyoncé, for cheating on her.
Jay-Z and Eminem both produced high-profile projects for Weinstein’s company, according to Deadline.
JAY-Z is asking for $480,000 for “Time: The Kalief Browder Story” and “Rest in Power: The Trayvon Martin Story.”
Eminem worked with the company on the 2015 film “Southpaw,” agreeing to produce the movie’s soundtrack and recording a song. He says the company owes him $352,000, Diversity Inc reported.
Others suing the Weinstein Company include Oprah Winfrey’s OWN Network and “Hamilton” creator Lin-Manuel Miranda, according to The Fader. There are thousands more, including:
“David Bowie, Michael Bay, Malia Obama, Boris Becker, Ryan Coogler, Daniel Radcliffe, Robert De Niro and Darlene Love.” The company also owes money to numerous corporations such as Netflix, Amazon, CBS, NBC, and ABC, Deadline reported. “Other creditors are less boldfaced but still eye-catching, including the film and television academies, the New York Fire Department and the Los Angeles Police Department. One of Harvey Weinstein’s accusers, the model-turned-actress Zoe Brock, is listed, as is YouTuber Casey Niestat.”
Dallas-based company Lantern Asset Management has made a bid for The Weinstein Company’s debt. Their $450 million offer includes $310 million in cash to provide instant relief.
Weinstein accusers are worried there won’t be any money left for them after all the lawsuits are settled, according to Hollywood Reporter:
They worry about “competing objections from the many creditors who figure to be the beneficiaries of a sale. Plus, many A-list talent, studios with joint projects and distributors like Netflix are going to want adequate assurance that the buyer can perform contractual obligations.”
Asked to clarify the pessimism surrounding the Lantern offer, a spokesperson for Hagens Berman representing several Weinstein accusers in a class action lawsuit, said:
“Doom and gloom because TWC assets are going to be sold and leave nothing in the short term for victims.”