Weinstein Company Files for Bankruptcy, Voids Non-Disclosure Agreements

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The company's board of directors said in a statement that its proposed bankruptcy sale is "an important step toward justice for any victims who have been silenced by Harvey Weinstein".

The company has also released employees from their non-disclosure agreements, which will allow them to speak freely about the sexual assault controversy. The statement thanks "the courageous individuals who have already come forward".

Allegations sprung up around the world, prompting police departments in the U.S. and U.K.to open investigations and sparking the so-called #metoo movement and Time's Up campaigns.

In a statement Shneiderman said, "Any sale of The Weinstein Company must ensure that victims will be compensated, employees will be protected going forward, and that neither perpetrators nor enablers will be unjustly enriched".

Film and TV studio The Weinstein Company said on Monday it has filed for voluntary bankruptcy.

The film and television studio has been searching for a buyer for months, and has finally reached an agreement with a Dallas-based private equity firm to buy its assets.

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A Carrey spokesperson confirmed to Mashable that the "sketch" was Carrey's handiwork, but could not confirm that the person portrayed was Sanders.

According to Variety, The Weinstein Company has filed for bankruptcy in the aftermath of so many allegations surfacing about its co-founder.

Lantern co-founders Andy Mitchell and Milos Brajovic said they plan on "following through on our promise to reposition the business as a pre-eminent content provider, while cultivating a positive presence in the industry".

Though Harvey Weinstein has apologized for his behavior and sought professional help, his spokeswoman has said that "any allegations of nonconsensual sex are unequivocally denied by Mr. Weinstein".

Rose McGowan had a message for Harvey Weinstein on his special day: "Happy f-king birthday".

The fallen filmmaker, once one of Hollywood's most powerful men, has been accused of sexually assaulting and harassing more than 80 women over the past several decades.

O'Melveny, which was reportedly retained by the Weinstein Company last November when it first began mulling a potential bankruptcy filing, is owed another $3.2m, while Los Angeles law firm Greenberg Glusker Fields Claman & Machtinger is owed $1.82m. Before the deal with Contreras-Sweet's group failed, The Weinstein Company had tried securing rescue financing from other investors. While those would still be enforceable, Reddock-Wright says plaintiff's attorneys would argue that Weinstein is the Weinstein company, therefore attempting to get NDAs made by the former producer thrown out and declared invalid. The studio has been the subject of multiple lawsuits ever since the news of Harvey Weinstein's sexual misconduct broke in October.