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Judge grants initial motions in Weinstein Co. bankruptcy

By The Associated Press

This article was originally published March 20, 2018 at 11:07 a.m. Updated March 20, 2018 at 6:25 p.m.



DOVER, Del. — A Delaware bankruptcy judge has issued initial orders allowing the Weinstein Co. to continue paying its bills and working toward a sale of most of its assets.

The judge's rulings Tuesday include interim approval for the company to borrow up to $25 million to see it through bankruptcy.

A private-equity firm has offered $310 million cash for Weinstein Company assets and to assume about $125 million in project-related debt.

The company sought bankruptcy protection Monday amid a sexual misconduct scandal that brought down co-founder Harvey Weinstein and triggered a nationwide movement to address predatory sexual behavior and harassment in the workplace.

A Weinstein Company attorney said the bankruptcy is not about trying to protect Harvey Weinstein but doing what is best for creditors and employees and keeping the company operating.

Read Wednesday's Arkansas Democrat-Gazette for full details.

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