Weinstein Co. Auction Pits Creditors Against Harvey, Blavatnik
- Creditors protest Blavatnik’s bid, say it would benefit Harvey
- Co-founder Weinstein had personally guaranteed Blavatnik loan
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Creditors of Weinstein Co. said Leonard Blavatnik’s Access shouldn’t be allowed to bid on the movie company’s assets, in part because it would benefit the firm’s co-founder Harvey Weinstein.
The deadline for bids for the Weinstein Co. assets is on Monday at 5:00 p.m. New York time. While AI International Holdings (BVI) Ltd., also known as Access, said it plans to "credit bid" or use its loans to Weinstein Co. to make an offer, it shouldn’t be allowed to, creditors said. Access hasn’t proven that its loan gives it rights to the copyright assets it wants to buy, they said in court papers filed Friday. Besides, creditors said, any such bid would benefit Weinstein, who personally guaranteed the loan.