DOVER, Del. (AP) — A Delaware bankruptcy judge has issued initial orders allowing the Weinstein Co. to continue paying its bills and working toward a sale of most of its assets.
The judge's rulings Tuesday include interim approval for the company to borrow up to $25 million to see it through bankruptcy.
A private-equity firm has offered $310 million cash for Weinstein Company assets and to assume about $125 million in project-related debt.
The company sought bankruptcy protection Monday amid a sexual misconduct scandal that brought down co-founder Harvey Weinstein and triggered a nationwide movement to address predatory sexual behavior and harassment in the workplace.
A Weinstein Company attorney says the bankruptcy is not about trying to protect Harvey Weinstein, but doing what is best for creditors and employees and keeping the company operating.