Weinstein scandal: Cranston says redemption is possible; creditors sue over $44M loan

Allegations against comedian Louis C.K., CW showrunner Andrew Kreisberg and One Tree Hill creator Mark Schwahn may have pushed the Harvey Weinstein scandal out of the spotlight but there is...

FILE – In this March 2, 2014 file photo, Harvey Weinstein arrives at the Oscars in Los Angeles. Weinstein is taking a leave of absence from his own company after The New York Times released a report alleging decades of sexual harassment against women, including employees and actress Ashley Judd. (Photo by Jordan Strauss/Invision/AP, File)

Allegations against comedian Louis C.K., CW showrunner Andrew Kreisberg and One Tree Hill creator Mark Schwahn may have pushed the Harvey Weinstein scandal out of the spotlight but there is still news involving the biggest target of them all.

In a new interview with the BBC, Emmy winner and Oscar nominee Bryan Cranston said he could potentially see a way for Harvey Weinstein and Kevin Spacey to redeem themselves in the future.

“It would take time,” stipulated the Breaking Bad star, who was an investor in Weinstein’s now-defunct 2015 musical Finding Neverland. “It would take a society to forgive them. And it would take tremendous contrition on their part. And a knowingness that they have a deeply-rooted, psychological, emotional problem that takes years to mend. If they were to show us that they put the work in and are truly sorry and making amends — and not defending their actions, but asking for forgiveness, then maybe down the road, there is room for that.”

Both men were roundly condemned for their initial statements: Spacey for conflating pedophilia with homosexuality by coming out in his, and Weinstein for blaming his behavior on having come up in the permissive culture of the 1960s and ’70s.

“Sexual predatory behavior is not a Hollywood problem,”  Cranston pointed out. “It’s a societal problem and we’re seeing that everywhere. What’s so great (is) that it’s being exposed. Young men and women should not have to tolerate being mistreated. We’re an enlightened society. Enough already.”

Lender AI International has sued both Harvey Weinstein and the Weinstein Company in Manhattan Supreme Court, alleging the studio defaulted on $44 million of a $45 million loan the moment they fired co-founder Harvey Weinstein over his sexual-misconduct scandal.

Weinstein has consistently denied any non-consensual activity with the nearly 80 women who have gone on the record accusing him.

AI International Holdings, which is based in the British Virgin Islands and owned by Ukrainian-born businessman Len Blavatnik’s Access Industries, says the Weinstein Company issued them a promissory note on Sept. 29, 2016. That document included a clause saying the company would be in default in the event of a “material adverse change” in its business that would impair their ability to pay back the loan.

Weinstein’s termination and the events leading to and surrounding that termination have left the business of Weinstein (Holdings LLC) and its affiliates in shambles,” the complaint filed by Richard I. Werder Jr. of New York-based firm Quinn Emmanuel reads. It adds,  “Weinstein’s alleged activities have left Weinstein Holdco exposed to potentially massive liabilities and have severely, if not fatally, damaged its standing in the marketplace. Published reports indicate that members of Weinstein Holdco’s board of directors were aware of settlements paid by Weinstein since at least 2015.”

In its complaint, AI International says it notified the Weinstein Co. it was in default on Oct. 10, two days after they say the studio triggered the material adverse change clause by firing Weinstein over his alleged multiple acts of sexual misconduct as outlined in a New York Times story published Oct. 5.

They say the Weinstein Co. also missed two interest payments due on Oct. 14 and Nov. 1. Now they want the  $43.5 million owed on the principal loan and $481,000 in interest, in addition to attorney’s fees.

The financial health of the Weinstein Co. has been debated since the scandal broke. AI’s lawsuit expressed concern that a bankruptcy filing is “increasingly likely.”

source: usa today

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