Contrary to normal bankruptcy procedures, sexual misconduct claim holders would not be asked to vote on the plan until everyone knows the value of their claim.
Robert Feinstein, lawyer for the company's official committee of unsecured creditors, said the committee unanimously supported the proposed settlement, as did many other individual petitioners.
"We hope it will be openly received … and that people will keep their fire in the press and in the courtroom until they have all the facts and we can have a mature conversation about what is going on." Feinstein was referring to attorneys for three resident plaintiffs in the New York case. These lawyers have called the latest proposal a "total and utter sell-out" of Weinstein's victims.
Attorneys acting on behalf of two of these women previously asked Walrath to convert the Chapter 11 case into a Chapter 7 liquidation. This would reduce the amount of money that goes to professionals and allow a trustee to bring civil claims on behalf of the bankruptcy estate against Weinstein and other company officials, they argue.
But Elizabeth Fegan, an attorney who represents several women in the New York case, including lead plaintiff Louisette Geiss, told Walrath on Wednesday that nearly two dozen women are supporting the revised bankruptcy plan.
"I think it's important that your votes are not outweighed by two women who don't approve of the plan," she said.
The Weinstein Co. filed for bankruptcy protection in March 2018 amid a sexual misconduct scandal that toppled Weinstein and sparked a nationwide movement to crack down on predatory sexual behavior and workplace harassment. Weinstein was sentenced to 23 years in prison earlier this year after being convicted of rape and sexual assault in New York.