Now, in a Hollywood style plot line, the investors looking to buy out the company will be led by women. Led by Maria Contreras-Sweet, former head of the SBA (Small Business Administration) under President Obama and billionaire investor Ron Burkle, they will include a victim compensation fund with up to $90 million. New York State Attorney General Eric Schneiderman was part of the negotiation as he filed a lawsuit recently in order to obtain compensation for the victims.
The new venture will save approximately one hundred and fifty jobs and possibly pay back some of the small businesses that are owed money. It will also mean paying $220 million for the Weinstein Co. and assume its debt that is approximately $225.
Alexander Hernandez, Esq.
Alexander Hernandez is a bankruptcy attorney practicing in Jacksonville and the surrounding areas and Miami, Florida.