The payout will be shared by more than 30 actresses and former employees of the filmmaker, who have filed various lawsuits accusing him of offenses ranging from sexual harassment to rape - along with potential claimants who could join the deal in the coming months.
Harvey Weinstein and his former associates have a reached a US$47 million tentative settlement - US$25 million (AU$68.35 million) of which will compensate women who have accused Weinstein of sexual misconduct.
The deal will have to be signed by all parties and get court approval to resolve nearly every misconduct lawsuit brought against him since 2017 and insulate company directors from future liability.
The payout has proved controversial, however, with one accuser, actress Katherine Kendall, declaring, "I don't love it, but I don't know how to go after him..." "I don't know what I can really do".
While the deal, if approved, may settle civil claims, Weinstein is still scheduled to face a criminal trial in NY in January on charges of sexually assaulting two women.
Harvey Weinstein has come to terms with his female accusers.
Judge James Burke gave Weinstein three options to cover a new bail of up to $5 million and warned the disgraced movie mogul that he'll face jail if other issues crop up.
He was one of the top producers in Hollywood before sexual assault allegations sparked the "Me Too" movement and essentially drove Weinstein from the industry.
Sure, most of the reports out there are stating that Weinstein, without the money from this deal, will be forced to file bankruptcy because of the case, which has been going on for over 2 years now, but honestly?
Douglas Wigdor, who represents Ms. David, said he objected to the current deal because of a clause saying that if the two women did not participate, $1 million from the fund could be used instead by Mr. Weinstein for his own defense costs. His lawyers said he was undergoing surgery on Thursday for injuries suffered in a auto accident in August.
On Wednesday, Mr Weinstein's bail sum was raised from $1m to $5m for the alleged mishandling of an electronic ankle monitor.
"We understand that many victims have been so emotionally devastated and drained by this process that they can not go on", he added. His attorney, Arthur Aidala, said he will have back surgery on Thursday, following a vehicle crash in August in which he sustained injuries, including a concussion.
Weinstein has yet to be convicted of any crime, but he was charged with committing forcible acts on different women.
Former Philadelphia sex crimes prosecutor Julia Morrow on Harvey Weinstein's potential defense. Below, is footage from today's court hearing where Harvey showed up using a walker.
- Indian woman who alleged gang rape dies after burn attack
- Klopp calls out translator ahead of RB Salzburg - Liverpool game
- Tourists Missing, Injured After Volcanic Eruption In New Zealand
- India's parliament set to vote on contentious citizenship bill
- Ancelotti fired by Napoli as Everton, Arsenal lurk
- Putin Meets With Ukraine's Zelensky for the First Time
- Trainer Manny Robles criticises Andy Ruiz Jr's preparation for Anthony Joshua rematch
- Saudi attacker 'acted alone' in Florida naval base rampage
- Adelaide Father And Daughter Named As Latest Victims Of NZ Volcano Tragedy
- Cornyn Says Voters Should Decide About Trump