Shamed Hollywood producer Harvey Weinstein has reached a tentative $25million 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 global legal settlement has obtained preliminary approval from all the parties involved, the New York Times reported.
The recipients of the settlement – which include more than 30 actresses and former Weinstein employees that have accused him of numerous sexual offenses including rape – would share the payout equally, along with any other claimants should they come forward in the months ahead.
As a result, the settlement would essentially bring an end to every lawsuit against him 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.
Harvey Weinstein arrived at court on New York on Wednesday leaning on a walker. His lawyers say he will have surgery this week on his back for an injury he sustained in a car accident in August
As the firm is currently in the midst of bankruptcy proceedings, Weinstein’s 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, Times sources say.