The Weinstein Company financier to pull out of $45m loan
Harvey Weinstein’s dismissal from his company has led to a film financier pulling out of a $45 million loan.
AI International Holdings reportedly want the cash back from The Weinstein Company – who sacked the Hollywood producer last weekend following claims he has sexually assaulted a number of employees for almost three decades – because the situation has changed since they fronted the loan last year.
According to gossip website TMZ, AI said in a letter to the company and their lawyers at O’Melveny & Myers that “the dismissal of Harvey Weinstein from his position as co-chairman” amounts to a “material adverse change”, which is said to enable them to demand immediate repayment of the loan.
The company’s film section has helped finance movies such as ‘Hacksaw Ridge’ and ‘The Butler’, and are said to have backed forthcoming film ‘I, Tonya’, which will star Margot Robbie as figure skater Tonya Harding.
Harvey is said to be set for settlement talks with The Weinstein Company, and some insiders believe there could be a deal to be made.
One source recently said: “The board has a problem because The Weinstein Company is Harvey Weinstein. Without him, it’s nothing.”
Last weekend, The Weinstein Company – which Harvey co-founded with his brother Bob Weinstein in 2005 – revealed the ‘Gangs of New York’ co-producer had been sacked “in light of new information about misconduct”.
They said in a statement: “In light of new information about misconduct by Harvey Weinstein that has emerged in the past few days, the directors of The Weinstein Company – Robert Weinstein, Lance Maerov, Richard Koenigsberg and Tarak Ben Ammar – have determined, and have informed Harvey Weinstein, that his employment with The Weinstein Company is terminated, effective immediately.”
Several stars have hit out at Harvey following the claims, including Jennifer Lawrence, George Clooney, Angelina Jolie, Leonardo DiCaprio, Meryl Streep and Kate Winslet.
Harvey has denied claims published by the New York Times newspaper earlier this month that he had assaulted at least eight female employees over almost 30 year, and has vowed to take legal action.
But he has said sorry for causing “pain” to some of his colleagues at times during his career, and admitted he is planning to make amends for his past mistakes.