April 4, 2018 / 9:58 PM / 19 days ago

Bankruptcy watchdog objects to break-up fee in Weinstein Co bid

The U.S. government’s bankruptcy watchdog has objected to the $310 million offer made for The Weinstein Co, the Hollywood studio, saying the proposed deal’s fees were given improper priority ahead of other creditors.

At issue for the U.S. Trustee is a break-up fee worth 3 percent of the purchase price that would be payable to an affiliate of Lantern Capital, if the private equity firm’s bid does not prevail.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2ItNseQ

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