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Court approves $17 million payout to Harvey Weinstein’s sexual misconduct accusers

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Nearly three years after the Weinstein Co. declared bankruptcy, a judge on Monday confirmed a liquidation plan that provides a $17.1 million fund for Harvey Weinstein’s sexual misconduct accusers.

The plan also provides $9.7 million to the former officers and directors of the Weinstein Co., allowing them to pay a portion of their legal bills over the last several years. The directors and officers — who include Weinstein’s brother, Bob, as well as James Dolan, Tarak Ben Ammar and Lance Maerov — also received releases that absolve them of any potential liability for enabling Weinstein’s conduct.

U.S. Bankruptcy Judge Mary Walrath approved the plan after a hearing in Delaware, saying that without the settlement, Weinstein’s accusers would get “minimal, if any, recovery.”

The liquidation plan wraps up a contentious and long-running legal fight over the remnants of Weinstein’s independent studio. The company collapsed in late 2017, following the disclosure of dozens of allegations of rape, sexual assault, harassment and other misconduct.

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Several insurance carriers will pay out a total of $35.2 million to resolve all the remaining claims, including those from the Weinstein Co.’s trade creditors.

The $17 million fund will be divided among more than 50 claimants, with the most serious allegations resulting in payouts of $500,000 or more. The settlement was put to a vote of Weinstein’s accusers, with 39 voting in favor and eight opposed.

Ruby Liu, an attorney representing the objectors, argued Monday that the settlement fund is “meager” and that the deal deprives her clients of the opportunity to pursue Bob Weinstein and other directors in court.

“There are more than monetary considerations that my clients are seeking,” she said. “They are seeking a finding from a jury that holds all responsible parties accountable. That’s not just Harvey Weinstein.”

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Paul Zumbro, an attorney representing the Weinstein Co. estate, argued that the deal was the best one obtainable for the accusers. Without releasing the directors and officers, the insurance companies would not have been willing to pay out.

Several attorneys who supported the plan argued it is better to give the majority of the claimants “closure,” rather than forcing all the claimants to endure years of litigation for an uncertain outcome.

“This is the best we’re going to do,” said Debra Grassgreen, an attorney for the unsecured creditors committee.

An earlier version of the settlement would have provided a $24.3 million payout to accusers, including women who alleged they were abused in the “Miramax” era, which predated 2005. But Judge Alvin Hellerstein rejected the deal, saying the class action suit that included the Miramax-era accusers was not viable. The settlement was later revised to exclude Miramax, Disney and their insurers.

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A portion of the defense cost payout was initially earmarked for Harvey Weinstein’s defense. That funding was stripped out of the plan. The civil claimants still have the option to pursue Harvey Weinstein in civil court, though most of the attorneys involved believe he has few assets that could be recovered.

The bulk of the Weinstein’s Co.’s assets were sold in 2018 to Lantern Capital, a Dallas-based private equity firm, for $289 million. Those funds were used to pay the company’s secured creditors.

SOURCE: NBC News

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Travis Scott arrested on disorderly intoxication, trespassing charges in Miami

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Rapper Travis Scott was arrested and booked into Miami-Dade County Jail early Thursday morning on charges of trespassing property after being given a warning and disorderly intoxication, county jail records show. (more…)

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Swizz Beatz & Timbaland Cement New Distribution Partnership Between Verzuz & X

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Swizz Beatz & Timbaland Cement New Distribution Partnership Between Verzuz & X

Making a monumental power move, VERZUZ—the online award-winning, multi-media platform launched by Swizz Beatz and Timbaland—has cemented an exclusive partnership with Xfor distribution. Swizz and Timbaland personally broke the news at an activation in Cannes, France today.

 

Earlier this year, Swizz and Timbaland reacquired VERZUZ from previous partner Triller, now owning 100% of the platform, while retaining their equity (along with the artists who participated in VERZUZ) in Triller. Upon resuming complete control, they sought out the perfect channel for independent distribution.

The partnership journey with X has now begun!

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Together, the companies orchestrated a mutually beneficial alliance where Swizz and Timbaland maintain their full ownership and creative control, while X receives exclusive distribution rights. As a result, VERZUZ will now broadcast to an audience of over 550 million active users, exponentially expanding its viewership and international reach like never before. Since the inception of VERZUZ, the conversations around each VERZUZ naturally evolved on X from fans and enthusiasts alike. Viewers will now be able to watch for FREE exclusively on X, bringing the visual series, and viral conversation, all to one platform! Stay tuned for the announcement of the next VERZUZ matchup coming soon.

 

About this chapter, Swizz stated, “We are beyond thrilled to have found the best partner for Verzuz. Not only are we excited to have Verzuz on X, we’re excited to help X build the biggest entertainment company in the world. I would like to thank Elon Musk, Linda Yaccarino, Brett Weitz, Mitchell Smith and the entire X team for believing in the Verzuz vision. We can’t wait to get to work.”

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Timbaland added, “We are thrilled to partner with X, the most innovative platform globally. Our goal has always been to bring Verzuz to the world which we can now do bigger than ever.”

As they have since the first VERZUZ, the founders uplift the culture and community into the spotlight in the center of the world’s stage. However, they preserve the same grit, honor, authenticity, and integrity that makes hip-hop, rap, R&B, soul and ALL genres of music so special. They have the opportunity to magnify its resonance, thanks to Elon Musk, Linda Yaccarino, CEO of X, and the entire X team championing their unfiltered voices.

 

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Linda Yaccarino stated, “X is so proud to partner with trailblazing creators, artists, and entrepreneurs Swizz Beatz & Timbaland. Our platform stands at the forefront of innovation, and Verzuz defines the essence of an innovative content experience. As we continue to work with the most exciting voices to bring premium content to X, there is no better fit than this series. Together we will redefine how consumers engage with their favorite entertainment, one Verzuz at a time.”

 

VERZUZ has partnered with Uncontained Media, led by Christian Sarabia, and Raymond Garcia. Together, they have produced multiple hit shows including Emmy Winner DRIVE WITH SWIZZ BEATZ and will serve as the production company and Executive Producers of VERZUZ.

 

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The influence and impact of VERZUZ has proven to be undeniable. So far, it has produced over 40 episodes, generating 100 million-plus live views and over 70 billion impressions. It has naturally encompassed other verticals with VERZUZ SPORTS, and VERZUZ COMEDY, all which play well to some of the most highly engaged communities on X. Not to mention, the power of the #VERZUZEFFECT cannot be overstated. Every artist that has participated in a VERZUZ have seen dramatic increases in streaming, ticket sales, merchandise, and overall revenue from just one appearance.

 

Welcome to the biggest, boldest, and best era of VERZUZ. Welcome to the future of entertainment.

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“Lord Of The Rings” actor Ian McKellen hospitalized after falling off stage during London performance

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Sir Ian McKellen has been taken to hospital after falling off stage during a performance of Player Kings at the Noël Coward theatre in London. (more…)

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People & Lifestyle

German officials decry racist attack on 8-year old Ghanaian girl and her father

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German officials decry racist attack on 8-year old Ghanaian girl and her father

Police say a group of youths and teenagers injured an 8-year-old Ghanaian girl and her father in the town of Grevesmühlen in the state of Mecklenburg-Western Pomerania.

German officials have condemned an attack that resulted in the injury of a Ghanaian girl and her father.

Police said that an 8-year-old Ghanaian girl and her 10-year-old sister were attacked by a group of around 20 teenagers and young adults late on Friday.

The 8-year-old girl and her father sustained mild injuries and were hospitalized.

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The attack occurred in the town of Grevesmühlen in the northeastern German state of Mecklenburg-Western Pomerania.

Police said the attackers kicked the younger girl in the face, after which the girl’s parents intervened.

According to police reports, one of the suspected attackers continued to direct racist insults at the victims after officers arrived at the scene.

Police are investigating a breach of the peace, grievous bodily harm, incitement of hatred and verbal abuse.

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Federal Interior Minister Nancy Faeser said on the platform X, formerly Twitter, that her thoughts and solidarity were with the children and their family.

“Calling children racist names and brutally attacking them is a sign of deep hatred and inconceivable inhumanity,” she said.

Grevesmühlen Mayor Lars Prahler told the German public radio station NDR 1 Radio MV that he was shocked at the incident.

“This racially motivated offense simply leaves me stunned. It shows bottomless hatred and uninhibited inhumanity and cannot be excused,” he said.

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He added that the fact that some of the suspects are teenagers is no excuse for the behavior.

State Premier Manuela Schwesig condemned the attack in a post on X.

“The injured girl is 8 years old — as young as my daughter. We must not allow hatred and hate speech to poison our society and violence to threaten our children,” she declared.

Jana Michael, Mecklenburg-Western Pomerania’s Integration Commissioner, urged those in the group of youths to name the perpetrators.

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“Every witness who remains silent is complicit and prevents the investigation of this disgusting violence against children,” she said.

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Social Trends: 101 Nations Unite for Ukraine Peace

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101 Nations Unite for Ukraine Peace

The Ukraine Peace Summit in Bürgenstock, Switzerland, convened with the participation of 101 countries and international organizations, focusing on achieving a just and sustainable peace between Ukraine and Russia.

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Key issues discussed included nuclear and food security, the release of civilian and military prisoners, and the return of deported children. A draft declaration emphasized the recognition of Ukraine’s sovereignty and territorial integrity, the need for Russia to hand over control of the Zaporizhzhia nuclear power plant to Ukraine, and the unacceptability of attacks on merchant vessels in the Black and Azov Seas.

Read Also: Freedom Fashion Ukraine heads to New York

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President Volodymyr Zelenskyy expressed hope for international agreement on a peace proposal to present to Russia, while President William Ruto of Kenya and other world leaders participated in discussions aimed at addressing the conflict.

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Social Trends: Global Leaders Unite in Eid al-Adha 2024 Celebration

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Global Leaders Unite in Eid al-Adha 2024 Celebration

Eid al-Adha, a significant Muslim holiday, was celebrated globally on June 16, 2024. Public figures, politicians, and sports personalities took to social media to extend their greetings and wishes to the Muslim community.

The messages conveyed unity, joy, and blessings, with many expressing hope for peace, prosperity, and acceptance of sacrifices made during the festival.

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Read Also: Cristiano Ronaldo faces $1bn lawsuit over Binance ads

The greetings were shared across various platforms, reflecting a global celebration of the event.

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