August 10, 2018 / 11:52 PM / 9 months ago

Weinstein Co settles with trustee for former video distributor

Bankrupt movie studio the Weinstein Co has reached a settlement with the trustee of a former home video distributor who sued in 2015 to recover $130 million in payments it claimed resulted from fraud.

In papers filed on Thursday in U.S. Bankruptcy Court in Delaware urging swift approval of the deal, the Weinstein Co said the Chapter 7 bankruptcy trustee for the estate of Genius Products LLC will dismiss its lawsuit against the studio in exchange for a $2.5 million payment from insurer National Union Fire Insurance Co.

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