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The Weinstein Company Files For Bankruptcy 6 Months After Firing Shamed Producer

//Harvey Weinstein Company Files Bankruptcy pp

Mar. 20 2018, Updated 11:31 a.m. ET

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The Weinstein Company has filed for bankruptcy after failing to salvage the empire built by sleazy producer Harvey Weinstein. In a statement released this Monday — six months after Weinstein, 66, was accused of sexual misconduct by a myriad of women — the company divulged their future plans to rebuild the business' structure and reputation.

One of the biggest changes TWC made was to terminate any non-disclosure agreements signed by head honchos or employees.

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"Today, the Company also takes an important step toward justice for any victims who have been silenced by Harvey Weinstein," TWC stated. "Since October, it has been reported that Harvey Weinstein used non-disclosure agreements as a secret weapon to silence his accusers. Effective immediately, those 'agreements' end."

This decision came after Weinstein allegedly used such agreements to keep sexual assault victims quiet in regard to his treatment of them.

"The Company expressly releases any confidentiality provision to the extent it has prevented individuals who suffered or witnessed any form of sexual misconduct by Harvey Weinstein from telling their stories," the statement continued. "No one should be afraid to speak out or coerced to stay quiet. The Company thanks the courageous individuals who have already come forward. Your voices have inspired a movement for change across the country and around the world."

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"TWC regrets that it cannot undo the damage Harvey Weinstein caused, but hopes that today's events will mark a new beginning," the company concluded in their statement. "The Company hopes that this orderly sale process under the supervision of the Bankruptcy Court will allow it to maximize the value of the Company's assets for the benefit of its creditors and other stakeholders,"

As RadarOnline.com readers know, TWC blamed the entire sexual misconduct scandal on its founder, Harvey Weinstein, and claimed employers had no idea he was harassing female employees and stars behind closed doors. Regardless, Attorney General Eric T. Schneiderman filed a lawsuit against the company, claiming they were accomplices in the shamed producer's many crimes.

"The Weinstein Company's agreement to release victims of and witnesses to sexual misconduct from NDAs will finally allow voices that have too long been muzzled to be heard—something my office has sought from the start," he wrote on Twitter. "My office will continue to fight for the victims. Our lawsuit against The Weinstein Company, Bob Weinstein, and Harvey Weinstein remains active and our investigation is ongoing."

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On October of 2017, Harvey Weinstein was bashed by a collection of women all over Hollywood, for having sexually assaulted, abused and harassed them over the course of the years. Though he previously denied the claims, he eventually came clean about his actions, apologized for his behavior, and locked himself up in sex rehab. He was soon dumped by his wife, Georgina Chapman, and fired from The Weinstein Company.

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