May 7, 2018 / 9:25 PM / a year ago

Weinstein Co unsecured creditors fight bank over sale proceeds

Unsecured creditors of the Weinstein Co launched a last-minute push on Monday to stall its sale, arguing proceeds could be used improperly to pay a secured bank lender before the film and TV studio gets its plan to emerge from bankruptcy confirmed.

The Weinstein Co’s official committee of unsecured creditors in court papers objected to the sale to an affiliate of private equity firm Lantern Capital Partners because proceeds could go to pay Bank of America after the transaction closes.

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