According to a one-page document filed today in U.S. Bankruptcy Court in Delaware, the committee includes Louisette Geiss and Sandeep Rehal as well as WME, Cinedigm and China-based Light Chaser Animation. The document, signed by the trustees in the bankruptcy case, doesn’t offer any specifics about what the quintet will be charged with doing. Essentially, they are the elite guard fighting for the thousands of unsecured creditors collectively owed more than $500 million by the company.
Geiss has been part of a class-action lawsuit filed under the federal RICO Act and also alleged that Weinstein sexually harassed her at the Sundance Film Festival in 2008. Rehal, Weinstein’s former assistant, is pursuing her own separate sexual-harassment suit in New York.
Light Chaser is the animation company behind Leap! The August release turned out to be the last title put out by TWC before the corporate meltdown, not counting Dimension’s Amityville: The Awakening, which hit a few screens right after the scandal broke last October and cumed all of $732. The animated film was meant to be the debut for a division called Mizchief, which fizzled on the launchpad. In the bankruptcy filing, the company is listed as being owed $2.25 million.
After the bankruptcy filing earlier this month, Lantern Asset Management emerged as the floor bidder, offering $310 million in cash, plus $125 million in the assumption of debt and another $15 million in bankruptcy fees. As Deadline has reported, it is also expected that other entrants could bid up the value of the assets, distressed though they may be.
The 363 bankruptcy process, which is similar to the path taken by MGM a few years ago, formally started March 20 and is expected to take 45 to 60 days.
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