Weinstein Co.’s liquidators have agreed to settle a lawsuit over a partnership with a now closed video distribution business that had been led by former Trump political strategist Steve Bannon, WSJ Pro Bankruptcy reported. The film and television studio’s insurer will pay $2.5 million and cover related fees and defense costs to end the lawsuit filed for the benefit of video distribution company Genius Products LLC’s creditors, according to papers filed yesterday in the U.S. Bankruptcy Court in Wilmington, Del. The settlement must be approved by a judge. Litigation with Genius Products nearly forced Weinstein Co. into bankruptcy in late 2017, months before the studio co-founded by Harvey Weinstein ultimately filed for chapter 11. Mr. Weinstein’s studio collapsed after allegations against him of sexual abuse were published by The New York Times and New Yorker magazine. He has pleaded not guilty to criminal charges currently pending in New York.
