US Trustee Objects to Proposed Weinstein Co. Sale Terms - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

US Trustee Objects to Proposed Weinstein Co. Sale Terms

Posted: Apr 05, 2018 7:56 AM Updated:

DOVER, Del. (AP)- A federal watchdog agency is asking a Delaware bankruptcy judge to reject plans for the sale of the company confounded by disgraced film mogul Harvey Weinstein.

In a court filing Tuesday, the U.S. Trustee expressed concerns about procedures proposed for the sale of the Weinstein Co.'s assets.

Texas-based Lantern Capital Partners has offered to pay $310 million in cash and assume about $125 million in debt for the Weinstein assets. As lead bidder, Lantern is entitled to a breakup fee of $9.3 million and expense reimbursement of up to $6.2 million if the Weinstein Co. accepts another bid.

The trustee says the deal improperly gives Lantern's bid-protection measures priority status ahead of other administrative expense claims.

The trustee also expressed concerns of the possible sale of personally identifiable information about individuals.

  • Delmarvawide NewsDelmarvawide NewsMore>>

  • Hogan: Trump Challenge Now 'Doesn't Make Any Sense at All'

    Hogan: Trump Challenge Now 'Doesn't Make Any Sense at All'

    Thursday, March 21 2019 9:15 PM EDT2019-03-22 01:15:41 GMT
    Thursday, March 21 2019 9:15 PM EDT2019-03-22 01:15:41 GMT
    Gov. Larry Hogan spoke at a news conference Thursday about the issue of starting school after Labor Day. (Photo: Larry Hogan Facebook page)Gov. Larry Hogan spoke at a news conference Thursday about the issue of starting school after Labor Day. (Photo: Larry Hogan Facebook page)
    Gov. Larry Hogan spoke at a news conference Thursday about the issue of starting school after Labor Day. (Photo: Larry Hogan Facebook page)Gov. Larry Hogan spoke at a news conference Thursday about the issue of starting school after Labor Day. (Photo: Larry Hogan Facebook page)
    While Maryland Gov. Larry Hogan isn't completely ruling out a potential primary challenge to President Donald Trump, he said Thursday that currently "it doesn't make any sense at all."More
    While Maryland Gov. Larry Hogan isn't completely ruling out a potential primary challenge to President Donald Trump, he said Thursday that currently "it doesn't make any sense at all."
    More
  • Salisbury Man Found Guilty in 2018 Assault

    Salisbury Man Found Guilty in 2018 Assault

    Thursday, March 21 2019 9:12 PM EDT2019-03-22 01:12:42 GMT
    Thursday, March 21 2019 9:12 PM EDT2019-03-22 01:12:42 GMT
    A Wicomico County jury found a Salisbury man guilty of assault and related-charges in an incident that happened in 2018.More
    A Wicomico County jury found a Salisbury man guilty of assault and related-charges in an incident that happened in 2018.More
  • Dorchester County Teachers Demand Change After Violent Student Behaviors

    Dorchester County Teachers Demand Change After Violent Student Behaviors

    Thursday, March 21 2019 7:22 PM EDT2019-03-21 23:22:41 GMT
    Thursday, March 21 2019 7:22 PM EDT2019-03-21 23:22:41 GMT
    Dorchester County teachers came before the school board and superintendent on Thursday night to ask for more support after they say violent student behaviors are growing in the classrooms.More
    Dorchester County teachers came before the school board and superintendent on Thursday night to ask for more support after they say violent student behaviors are growing in the classrooms.More
  • Most Popular VideosMost Popular VideosMore>>

  • Dorchester County Teachers Demand Change After Violent Student Behaviors

    Dorchester County Teachers Demand Change After Violent Student Behaviors

    Dorchester County teachers came before the school board and superintendent on Thursday night to ask for more support after they say violent student behaviors are growing in the classrooms.

    Dorchester Educators President Katie Holbrook says teachers are being ignored by the board and superintendent in their requests for help, and change needs to happen quickly.

    More

    Dorchester County teachers came before the school board and superintendent on Thursday night to ask for more support after they say violent student behaviors are growing in the classrooms.

    Dorchester Educators President Katie Holbrook says teachers are being ignored by the board and superintendent in their requests for help, and change needs to happen quickly.

    More
  • Ocean City Officials Reacts to Back to School Start Date

    Ocean City Officials Reacts to Back to School Start Date

    Lawmakers have voted and the choice could be in the hands of Maryland school districts to decide when school is back in session. 

    But, Ocean City officials argue a shorter summer, could negatively impact the local economy. 

    More

    Lawmakers have voted and the choice could be in the hands of Maryland school districts to decide when school is back in session. 

    But, Ocean City officials argue a shorter summer, could negatively impact the local economy. 

    More
  • "Hood Fight Salisbury" Cell Phone Videos

    "Hood Fight Salisbury" Cell Phone Videos

    27 cell phone videos depicting brutal streets fights among teenagers in Salisbury were posted online. Local leaders including the Mayor, State's Attorney and a Reverend react to the media.More
    27 cell phone videos depicting brutal streets fights among teenagers in Salisbury were posted online. Local leaders including the Mayor, State's Attorney and a Reverend react to the media.More
Powered by Frankly

All content © Copyright 2000 - 2019 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices